Following a recent event held in the Thames Pavilion, which is located in the House of Commons where lawmakers meet, U.K. Member of Parliament Natalie Elphicke urged the government to do more for blockchain. “It’s imperative that industry and policymakers collaborate to enhance comprehension and implementation of blockchain technologies. I want to see the U.K.

The partnership between Teylor, a fintech lending platform based in Zurich that specializes in the German SME market, and Taurus, a Swiss crypto custody firm supported by Deutsche Bank (DBK) adds to the growing trend of tokenized assets.Teylor’s credit portfolio tokens, which were supervised by the legal firm Allen and Overy, are eligible to trade on Taurus’ TDX platform for secondary market transactions, the firms announced on Thursday. Lamine Brahimi, a co-founder of Taurus, claims that the tokenization procedure is consistent with European and Swiss rules and uses an investment vehicle established in Luxembourg.In the next two weeks, certain institutional investors will make “landmark” investments in the tokenized debt product for the German SME sector, according to Brahimi, who made this announcement in an interview. “TDX market is Taurus’ other business besides custody, and we have done 20-plus transactions,” Brahimi said. “These include tokenized equity, debt, structural products and art. In terms of notional value, it’s over $1 billion so far.” It is hardly unexpected that crypto-friendly Switzerland is treating a variety of asset classes to institutional-grade blockchain technology given the explosive growth of tokenization in traditional banking worldwide. Investors like U.K. bank Barclays (BARC) support Teylor, which provides loans to Germany’s thriving Mittelstand economy ranging from 100,000 euros ($109,000) to 1.5 million euros ($1.6 million).According to CEO Patrick Stäuble’s statement in an interview, the fintech company provided loans totaling slightly under $25 million last month. “We give loans to businesses that make usually between five and 50 million revenues, that

Using Nasdaq’s technology, Rulematch is a recently launched cryptocurrency exchange for banks in Switzerland. Seven banks and major securities firms are on board, including Banco Bilbao Vizcaya Argentaria (BBVA), one of Spain’s pioneers in digital assets. Using crypto custody technology from bank-friendly Metaco in Switzerland and Nasdaq’s pre-trade risk checks, trade matching, and market surveillance capabilities, Rulematch will provide bitcoin (BTC) and ether (ETH) spot trading against the dollar to a limited group of institutional participants. Following incidents such as the demise of the cryptocurrency exchange FTX in the previous year, institutional interest in trading cryptocurrencies is being directly met by formalized methods that closely resemble traditional finance, emphasizing separated functionality and strict adherence to market legislation.An anonymous central limit order book with 30 microsecond execution timings and integrated post-trade settlement with multilateral clearance are just two of the features that Rulematch promises to provide businesses the institutional feel they are used to.German Bankhaus Scheich Wertpapierspezialist and other approved market makers ensure upfront liquidity. “The crypto spot market is really dominated by players which do not really fulfill the very high requirements of a regulated participant,” CEO David Riegelnig said in an interview. “Primarily, the mix of functions that so-called crypto exchanges typically do, which makes them much more of a broker than actual exchange, was

In light of Coinbase’s recent rise to a 20-month high, ARK Invest, the investment firm owned by Cathie Wood, offloaded a sizable portion of the company. Based on Coinbase’s most recent close of $150.46, ARK sold 283,104 shares for $42.59 million, depleting holdings from its exchange-traded funds (ETFs), ARK Innovation (ARKK) and ARK Next Generation

The Wall Street behemoth JPMorgan (JPM) stated that it is cautious about the cryptocurrency markets through 2024, but that it expects an upgrade to the Ethereum blockchain that will increase its scalability to propel ether (ETH) above bitcoin (BTC) and other cryptocurrencies. According to a recent report, the U.S. Securities and Exchange Commission’s (SEC) decision

After more than $200 million was stolen from both HTX and Poloniex last month in a cyberattack, cryptocurrency tycoon Justin Sun declared that money housed on those exchanges were “100% safe.”While withdrawals for some assets are now possible on both exchanges, numerous altcoins are still locked.The two digital assets that might be withdrawn are Bitcoin (BTC) and Tron (TRX). As a result, throughout the past few weeks, both tokens have been trading at a premium on Poloniex, requiring users to accept a 10% haircut in order to liquidate one asset and withdraw another. Following the theft of $114 million from Poloniex’s hot wallets on November 10, as well as the theft of $97 million from HTX and the blockchain system Heco Chain, the withdrawal freeze was implemented. “Right now, Poloniex and HTX have recovered from the hack, and we are resuming the tokens one by one,” Justin Sun, an investor in Poloniex and an advisor for HTX, told CoinDesk. “I think for HTX, we have already resumed 95% in terms of USD worth of assets. On Poloniex, we have resumed

According to Bloomberg on Wednesday, Su Zhu, a co-founder of the defunct cryptocurrency hedge fund Three Arrows Capital (3AC), was questioned for the first time in a Singaporean court as liquidators looked for information to help them recover assets. According to people familiar with the situation who spoke with Bloomberg, Zhu was obliged to provide

The shares of Coinbase (COIN) remained stable within 5% of the year’s peak, so Cathie Wood’s investment management company, ARK Invest, sold the stock for the third day in a row. At Tuesday’s closing price, the company sold off 82,255 shares, or roughly $11.5 million, from the exchange-traded funds (ETFs) ARK Innovation (ARKK), ARK Next

The chief executive officer of Wall Street brokerage Cantor Fitzgerald, Howard Lutnick, has two favourite cryptocurrencies: Tether (USDT) and Bitcoin (BTC). “I am an enthusiast of cryptocurrency, specifically bitcoin, to be precise. In an interview with CNBC’s Money Movers podcast, he stated, “These other coins are just not a thing.” Given that Cantor Fitzgerald is

The largest sale in over a year occurred on recently when Cathie Wood’s ARK Invest sold about $12.85 million worth of shares in Grayscale Bitcoin Trust (GBTC) from its Next Generation Internet (ARKW) exchange-traded fund (ETF). With 395,945 GBTC shares offloaded from ARKW, the fund now has roughly $112.7 million worth of GBTC, or 6.95%

According to a post made on Tuesday by the nation’s Bitcoin-focused office, El Salvador’s long-planned Bitcoin bonds have gotten a little bit closer to reality after seemingly obtaining regulatory approval for an early 2024 issuance. The bonds will be made available on Bitfinex Securities, a regulated branch of Bitfinex, a cryptocurrency exchange. The National Bitcoin

The Financial Services Commission (FSC) of South Korea announced on Monday that it has suggested regulations aimed at safeguarding virtual asset services providers’ (VASPs’) clientele.On July 19, 2024, the regulations—which are based on the Virtual Asset User Protection Act that was passed earlier this year—are supposed to go into force.Comments from the general public are welcome until January 22.The Act outlines what constitutes a digital asset and establishes legal justifications for fines and criminal penalties “to punish unfair trading activities using virtual assets.”Additionally, VASPs, or exchanges, must keep an eye on unusual transactions and notify the FSC as needed. In recent months, South Korea’s efforts to regulate the cryptocurrency industry have increased.The FSC published draft regulations in July requiring businesses to reveal whether they possess or own cryptocurrency beginning in 2019.VASPs will have to reimburse clients for using their deposits as a result of the new regulations.Banks that receive asset storage from exchanges are permitted to use the deposits to purchase secure assets like government bonds. In accordance with the regulations, exchanges must hold at least 80% of consumer deposits in cold wallets.A cold wallet is a cryptocurrency wallet that is less susceptible to hackers since it is not always online. Digital currencies issued by central banks (CBDCs) and non-fungible tokens (NFTs) are not covered by the Act.

The Federal Reserve’s first interest rate cut is expected to occur in the third quarter of 2024, rather than the fourth, as previously predicted by investment banking behemoth Goldman Sachs, according to a Friday, Reuters story. The change occurs as the 10-year U.S. Treasury yield, or the so-called risk-free rate, has declined, a bullish combination

According to the Australian Financial Review, Australian venture firms and cryptocurrency groups have met with C1, a venture capital firm led by former executives of Coinbase. C1 offers to use its $500 million ($AUD 760 million) fund to purchase private holdings from investors. Animoca Brands, a venture capital firm specialising in gaming and metaverse, and

The companies announced on Monday that Conio, a cryptocurrency wallet company that is partially owned by Poste Italiane and Banca Generali, has partnered with Coinbase (COIN) to offer a variety of digital assets to Italian banks and financial institutions. With more than 400,000 users, Conio and Coinbase Prime are working together to offer liquidity to

Concerns regarding the growing number of scam tokens that target Dogecoin community members specifically have been voiced by a well-known figure in the community. An enthusiastic Dogecoin fan named Mishaboar claims that a number of “pump and dump” scam coins have recently targeted the community in an attempt to profit from Dogecoin’s rising popularity. These

The National Defence Authorization Act’s two repealed sections dealt with problems related to money laundering and cryptocurrency. Two clauses intended to address concerns about cryptocurrency-related money laundering were removed by the US government from the National Defence Authorization Act (NDAA). The nation’s defence department is permitted to use federal funds in accordance with the NDAA,

The UK Financial Conduct Authority took almost three years to address fraudulent activity in cryptocurrency ATMs nationwide, according to the National Audit Office. Concerns have been raised by the UK’s National Audit Office (NAO) regarding the Financial Conduct Authority’s (FCA) ability to effectively regulate the cryptocurrency market. The NAO has stated that the FCA is

Externally owned accounts (EOAs), which are currently identified as the top holders of HXA tokens, dispersed the funds obtained by the KyberSwap exploiter, according to blockchain security firm Cyvers. The native utility token of the Herencia Artifex NFT project, HXA, was found to have moved $50 million and was connected to the KyberSwap exploiter, according

On December 8, asset management VanEck submitted a fifth modified application to create an exchange-traded fund (ETF) with spot Bitcoin. Updates to the VanEck Bitcoin Trust are highlighted in the revised filing to the S-1 Form with the United States Securities and Exchange Commission (SEC), according to the regulator’s database. A place Investing in a

The government of El Salvador has been working hard to encourage the country’s citizens to accept cryptocurrencies, but as a recent CoinGecko research showed, not many people really possess cryptocurrency in El Salvador. The report, which was released on December 7, reaffirms that El Salvador is the only nation in the world now accepting cryptocurrencies

$23.59 million was transferred recently, and it was divided among 19 different tokens, including LINK, DOGE, ETH, ALEPH, CRV, AVAX, MATIC, UNI, and SOL. $23.59 million worth of digital assets were transferred over the course of four days by wallets connected to the now-defunct cryptocurrency trading companies FTX and Alameda Research to leading exchanges. Using

The US SEC and Fidelity convened to talk about Fidelity’s Wise Bitcoin Origin Trust application, going over product operational functionality and diagrams. Fidelity and the US Securities and Exchange Commission (SEC) recently met to discuss Fidelity’s application for an exchange-traded fund (ETF) that would allow it to trade Bitcoin on the spot. In a meeting,

A federal judge decided Thursday night that Binance founder and former CEO Changpeng Zhao (CZ) could not leave the country before his sentencing.Zhao is expected to appear in court in February 2024. Last month, Zhao entered a guilty plea to one count of breaking the Bank Secrecy Act.After putting some money in escrow and having guarantors put up about $5 million in assets as collateral, he was freed on a $175 million personal recognizance bond.Zhao was first granted a bond that allowed him to return to the United Arab Emirates, where he, his partner, and his children reside. However, the prosecution contended that Zhao posed a flight risk and shouldn’t be allowed to leave the country. The Department of Justice was supported by District Judge Richard Jones of the Western District of Washington. “The defendant has articulated justifications that in most cases would cause the government’s motion to be denied,” the judge wrote. “However, a critical feature of the government’s motion is the extent of the defendant’s enormous wealth and absence of an extradition treaty with the UAE. In addition, the defendant’s family resides in the

In a recent effort to draw permanent residents to the nation, El Salvador is focusing on bitcoin (BTC) and cryptocurrency millionaires. Thursday marked the launch of the country’s “Freedom VISA” programme, which grants residency to up to 1,000 individuals annually who invest at least $1 million in bitcoin or USDT stablecoins. A path to full

According to a company spokesperson, cryptocurrency exchange Binance has withdrawn its application for an Abu Dhabi licence, as reported by Reuters. Reuters said that the application, which was submitted a year ago, was withdrawn on November 7. Binance would have been able to run a pooled investment fund with the licence. “When assessing its global