The Swiss Federal Councillor Karin Keller-Sutter and the British Chancellor Jeremy Hunt have signed the “Berne Financial Services Agreement” to bring the two financial centers closer together. The agreement aims to strengthen competitiveness and promote close cooperation between Switzerland and Great Britain in the areas of banking, securities services, insurance, asset management, and financial market […]
A court in the British Virgin Islands has frozen $1 billion in assets belonging to the founders of collapsed crypto hedge fund, Three Arrows Capital (3AC). The court order prohibits co-founders Su Zhu and Kyle Davies, as well as Davies’ wife, from transferring or selling assets worth over $1 billion.According to liquidators Teneo, 3AC owes […]
Finpact, a spin-off of the University of St. Gallen, has been granted a license as an asset manager by the financial regulator. The company specializes in digital wealth management for customers aged 50 and above, catering to capital payouts, inheritances, and savings. The license from the Swiss Financial Market Supervisory Authority (Finma) is seen as […]
Revolut, a digital bank, has announced that it will suspend some of its cryptocurrency services for its business clients in the United Kingdom. This decision comes as the company prepares for stricter regulations from the Financial Conduct Authority (FCA).Starting from January 3, 2024, Revolut will pause the ability of its UK customers to buy cryptocurrency […]
Russia has taken a significant step towards the implementation of its central bank digital currency (CBDC), the digital ruble, by integrating it into the nation’s tax code. President Vladimir Putin signed the new legislation into law, which aims to regulate the use and taxation of the upcoming CBDC. The tax code includes a definition of […]
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 […]
A recent survey conducted by crypto asset manager Grayscale reveals that 40% of American investors are considering adding digital assets to their investment portfolios in the future. This indicates a shifting trend in the growth of the digital assets industry, despite the setback caused by the collapse of the FTX crypto exchange.The survey also highlights […]
A British Virgin Islands court has issued a freezing order on approximately $1 billion worth of assets belonging to the founders of Three Arrows Capital (3AC), a cryptocurrency hedge fund that faced a significant collapse in 2022 due to a series of unsuccessful investments. The court’s directive restrains co-founders Su Zhu and Kyle Davies, along […]
Worldcoin, a cryptocurrency company, has reportedly disabled its offline orb verification function in India, Brazil, and France. The company had introduced the Orb, a five-pound chromatic helmet that scans individuals’ eyeballs to verify their identities, as a means of onboarding people in regions where traditional identification is not always available.Worldcoin incentivized the offline onboarding process […]
The powerful rating agency Moody’s has downgraded the credit rating for Bank Julius Bär following the Signa debacle. The reasons cited for the downgrade are the group’s high risk appetite and risk concentration.Moody’s, the American rating agency, has lowered the credit rating for Julius Bär. The private bank’s credit rating has been downgraded to “A3” […]
