The Dubai Virtual Asset Regulatory Authority (VARA) recently announced the schedule of fees “covering the issuance of no-objection certificates to proprietary traders, amendments or withdrawal of licence applications, and the submission of whitepapers for VARA review.” According to VARA, licensed entities seeking to completely withdraw from Dubai will be asked to pay a license withdrawal…
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The acquisition was called off two weeks after BitGo publicly disclosed its non-binding letter of intent to acquire Prime Trust. On June 22, wallet infrastructure provider and digital asset custodian BitGo announced on Twitter that it had decided to cancel its acquisition of fintech infrastructure provider Prime Trust. According to BitGo, “This decision was not…
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The Monetary Authority of Singapore, with input from major tech giants, released a whitepaper on the standards for digital money usage such as CBDCs and stablecoins. The Monetary Authority of Singapore (MAS) released a proposal for a common protocol that would specify the conditions for the use of various types of digital currencies. On June…
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Meanwhile, the altcoin price crash triggered inflows for XRP, Cardano and Polygon. On June 19, European cryptocurrency investment firm CoinShares published its “Digital Asset Fund Flows Report,” revealing that cryptocurrency investment products experienced outflows totaling $5.1 million last week. The outflows contributed to the continuation of a nine-week streak of outflows, resulting in a cumulative…
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Proposed measures include restricting Binance officials’ access to private keys and disclosing business expenses. Binance, Binance.US, and the United States Securities and Exchange Commission (SEC) reportedly agreed on Friday, June 16, to temporarily limit access to customer funds exclusively to Binance.US employees. According to reports, the proposed agreement, pending approval from the overseeing federal judge,…
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According to CoinShares, digital asset investment product outflows amounted to $88 million last week. On June 12, European cryptocurrency investment firm CoinShares published its latest weekly “Digital Asset Fund Flows Report,” revealing that cryptocurrency investment products experienced outflows of $88 million last week. The substantial drawdown added to the ongoing eight-week streak of outflows, which now total…
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In a recent development, Bitgo, the digital asset trust firm, disclosed that it has penned a letter of intent to acquire Prime Trust, a crypto custodian based in Nevada. Should the acquisition proceed, Prime Trust would become an integral part of Bitgo’s network of regulated trust companies. Bitgo Signs Letter of Intent to Acquire Crypto…
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BitGo Holdings Inc., the renowned digital asset trust and security company, has revealed plans to acquire 100% of the equity of Prime Core Technologies, Inc., the parent company of Prime Trust. The development marks a watershed moment for the Prime Trust clients, positioning them to enjoy business continuity, long-term stability, and regulated, secure solutions once…
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Although the crypto economy has dipped 1.5% in value over the past 24 hours, XRP, the sixth-largest digital asset by market capitalization, has posted gains recently. In the last week alone, XRP has surged over 10%, and year-to-date, this digital currency has increased by 35% against the U.S. dollar. XRP Defies Market Trends as Network…
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According to Google Trends, worldwide interest surrounding the term “bitcoin” has plummeted to its lowest point since October 2022, registering a mere 17 out of 100. The active interest for the term has taken a nosedive since June 2022, when the search query for bitcoin reached a score of 64 out of 100. Global Interest…
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