The US authorities have proposed a bipartisan Digital Asset Anti-Money Laundering Act in response to the growing threat posed by the crypto industry to financial stability. The Act has gained support from a coalition of senators, including Elizabeth Warren, who expressed excitement about the new senators joining the fight against the illicit use of crypto. […]
A German insurance group, Signal Iduna, is reported to have almost 1 billion euros in outstanding loans to the troubled Signa Group, an investment firm owned by René Benko. Other insurers, including Ergo, R+V, Allianz, and Volkswohl-Bund, have also provided significant loans to Signa, totaling hundreds of millions of euros. Despite the financial difficulties faced […]
Dubai’s Virtual Assets Regulatory Authority (VARA) has granted a conditional license to Enjinstarter’s AYA platform for offering crypto asset and investment services. The license is subject to certain conditions that need to be fulfilled before the platform can commence its services. Once all the requirements set by VARA are met, the platform will undergo regulatory […]
A major shakeup occurred at Signa Financial Services as their operational chief was removed from his position amidst allegations of serious misconduct. This small but influential firm, consisting of a handful of financial experts and trusted associates of René Benko, is located in Zurich, Switzerland, just a stone’s throw away from Paradeplatz.Signa Financial Services, a […]
Fisch Asset Management, a Zurich-based wealth management firm, has appointed Ivan Nikolov as the second leader of its convertible bond team. Starting in early 2024, Nikolov will co-lead the team alongside Thomas Fischli Rutz. The team consists of five portfolio managers and manages a total of five strategies across the entire spectrum of convertible bonds […]
Experienced private bankers at Credit Suisse in Switzerland are still leaving for rival banks, despite UBS’s introduction of retention bonuses averaging CHF 100,000. The integration of the two banks last August provided clarity for Credit Suisse employees, but it hasn’t been enough to prevent front-line staff from seeking opportunities elsewhere. Recently, a team of three […]
Senator Elizabeth Warren’s proposed crypto Anti-Money Laundering bill has sparked controversy within the crypto industry. However, critics have pointed out that Warren’s bills have a history of not gaining traction.According to data from GovTrack, Warren has introduced 330 bills during her time as a senator, but only one has been enacted as is. Most bills […]
El Salvador has received regulatory approval for its long-awaited Bitcoin bonds, also known as “Volcano Bonds.” The bonds are expected to launch in early 2024, according to the National Bitcoin Office of El Salvador. The approval was granted by the Digital Assets Commission. The country’s pro-Bitcoin leader, Nayib Bukele, also confirmed the news on social […]
The Financial Services Commission (FSC) in South Korea has announced new regulations aimed at bolstering investor protection and promoting transparency in the cryptocurrency market. Under the revised regulations, investors in crypto assets will be entitled to receive interest payments on their deposits made through exchanges. This move is intended to ensure the adequate protection of […]
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 […]
