Tether, the largest issuer of stablecoin USDT, has implemented a new policy to freeze crypto wallets associated with individuals and entities sanctioned by the US Treasury’s Office of Foreign Asset Control (OFAC). This move aims to strengthen the positive usage of stablecoin technology and promote a safer stablecoin ecosystem.An analysis of the Ethereum blockchain reveals […]
Binance, the world’s largest cryptocurrency exchange, has announced that it will no longer support trading pairs involving the Russian Ruble (RUB) on its platform starting from January 31, 2024. This decision is part of Binance’s strategy to exit the Russian market after selling its local division to CommEX.Earlier this year, Binance faced scrutiny from the […]
The Korean Financial Services Commission has introduced new investor protection laws to enhance the security of cryptocurrencies in South Korea. As part of these regulations, Korean Virtual Asset Service Providers (VASPs) will now be required to store 80% of their digital assets in cold wallets. This move aims to safeguard investors’ funds by reducing the […]
South Korea’s top financial regulator, the Financial Services Commission (FSC), has proposed new regulations for crypto assets, specifically targeting non-fungible tokens (NFTs), interest on deposits, and the security of customer assets.The FSC aims to exclude NFTs from existing regulations that define “virtual assets” like cryptocurrencies. This is because NFTs have unique characteristics and are not […]
Binance founder Changpeng “CZ” Zhao has been ordered to stay in the United States until his sentencing in February 2024. A federal judge determined that there is a flight risk if Zhao is allowed to return to the United Arab Emirates. The judge cited Zhao’s enormous wealth and property abroad, as well as his lack […]
Senator Elizabeth Warren’s proposed bill to regulate cryptocurrencies has gained support from five additional senators, including members of the Senate Banking, Housing and Urban Affairs Committee. The Digital Asset Anti-Money Laundering Act aims to address the risks of illicit finance associated with digital assets by expanding the definition of “financial institutions” to include cryptocurrency miners, […]
Swiss asset management boutique Arvy has received approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate as a wealth manager. The founding team, who previously worked for a multi-family office, announced the news in an email. Arvy has also launched its flagship financial product, the Equity Strategy Fund. The company’s founders, Florian Jauch, […]
Google is set to update its advertising policy in January 2024 to allow the promotion of Cryptocurrency Coin Trusts on its platform. This change will come into effect on January 29, 2024, and will apply globally. Cryptocurrency Coin Trusts are financial products that enable investors to trade shares in trusts holding digital currency pools.Google’s policy […]
German development bank KfW is set to introduce a tokenized bond by 2024, following the successful issuance of a €20 million digital bond. This milestone was achieved through the use of Deutsche Börse’s Clearstream platform, which utilizes a centralized data storage system on its D7 platform.The upcoming tokenized bond falls under the German regulation on […]
The Financial Services Commission (FSC) in South Korea has announced new regulations for investors in digital assets. By July 2024, investors must receive interest when depositing funds into an exchange. However, nonfungible tokens (NFTs) and central bank digital currencies (CBDCs) are exempt from this requirement.The FSC plans to release legislative guidance on this matter, with […]
