The Financial Services Regulatory Authority (FSRA) in the United Arab Emirates has made updates to its Anti-Money Laundering and sanctions rules, specifically related to digital assets. The revisions, announced on December 21, include changes to provisions regarding digital assets within the Financial Action Task Force’s (FATF) Travel Rule. The updates aim to enforce the FATF’s […]
Ripple’s XRP has emerged as a potential solution to the problems of instant payments in the United States. While the country lags behind others in implementing an effective instant payments system, XRP offers an efficient alternative to the slow progress of the Federal Reserve Bank’s FedNow service. With its promise of efficient cross-border transactions and […]
The International Organization of Securities Commissions (IOSCO) has released a report providing policy recommendations for Decentralized Finance (DeFi). The aim is to address potential risks to market integrity and investor protection in the wake of recent incidents that caused harm to investors and led to the failure of DeFi platforms.The report emphasizes that DeFi activities […]
The International Organization of Securities Commissions (IOSCO) has released a report providing policy recommendations for Decentralized Finance (DeFi). The aim is to address potential risks to market integrity and investor protection in the wake of recent incidents that caused harm to investors and led to the failure of DeFi platforms.The report emphasizes that DeFi activities […]
Solend, the leading lending and borrowing protocol on Solana, has announced its upcoming launch on the Sui blockchain. This marks Solend’s first expansion onto a blockchain other than Solana and demonstrates their confidence in Sui’s technology and potential as a long-term partner. Solend currently has over $140 million in total value locked (TVL) and supports […]
Singaporean fintech firm Alchemy Pay has announced a partnership with UK-based payment processor Worldpay. This collaboration will allow Alchemy Pay users to access Worldpay’s Visa and Mastercard payment rails for purchasing cryptocurrencies using their credit and debit cards.Alchemy Pay aims to facilitate seamless cryptocurrency transactions worldwide, and this partnership with Worldpay will enhance their ability […]
The International Organization of Securities Commissions (IOSCO) has released a set of policy recommendations aimed at promoting consistency in regulatory oversight across jurisdictions. These recommendations, which follow a report released last year, provide detailed guidance on various aspects of regulation.One of the recommendations, Rule 7, emphasizes the importance of enforcing applicable laws. The accompanying guidance […]
The United Kingdom has introduced new regulations that allow the Financial Conduct Authority (FCA) and the Bank of England (BoE) to operate a sandbox for tokenized securities. The Digital Securities Sandbox (DSS) regulations, which will take effect on January 8, 2024, enable UK-based investment exchanges, investment firms, central securities depositories, and recognised central counterparties to […]
Major financial firms such as JPMorgan and HSBC are increasing their involvement in blockchain technology, signaling a growing acceptance of distributed ledger technology (DLT) in traditional finance. In November, both JPMorgan and HSBC made significant moves in the blockchain space.JPMorgan executed its first decentralized finance (DeFi) trade on a public blockchain on November 3, demonstrating […]
Ripple CEO Brad Garlinghouse is calling for unity within the crypto industry to support pro-crypto candidates in the upcoming 2024 US presidential election. He believes that it is crucial to counter the anti-crypto and anti-innovation stance taken by the Biden administration, particularly regarding blockchain technology. Garlinghouse emphasizes the need to support candidates who champion innovation […]
