According to 13F filings with the U.S. Securities and Exchange Commission (SEC), Millennium Management, a highly successful hedge fund, holds nearly $2 billion in spot bitcoin exchange-traded fund (ETF) shares. This week, it was further revealed that Morgan Stanley, a giant multinational investment and financial services firm, also has exposure to spot bitcoin ETFs. Top…
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A recent survey conducted by the Digital Currency Group and The Harris Group has revealed that a majority of Americans in swing states view the financial system as “outdated.” However, despite this sentiment, they remain skeptical about cryptocurrency as a solution. The study involved 1,201 participants from six swing states, which are states where either the Democratic or Republican party could reasonably…
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Democratic Republic of Congo (DRC)-based fintech startups have partnered with the government to launch an association. The goal of the collaboration is to accelerate financial inclusion in the African country. By partnering with the government, the association will play a crucial role in shaping “policies that encourage investment, competition, and access to financial services.” Bolstering…
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Reports on crypto funding terrorism and blockchain forensics were confusing, but everyone agreed on the need for collaboration and regulation. The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion received an education in the uses of blockchain technology in a hearing titled “Crypto Crime in Context: Breaking Down the Illicit…
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Discussions around illicit activity, such as money laundering and terror financing, will take center stage at the Financial Services Committee hearing. The United States Financial Services Committee (FSC) has scheduled a Nov. 15 hearing for a deep dive into the illicit activities in the cryptocurrency ecosystem. The hearing, ‘Crypto crime in context: breaking down the…
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The Japanese bank joins a rapidly growing number of digital asset firms operating in Abu Dhabi and the rest of the United Arab Emirates. The Abu Dhabi Global Market (ADGM) has granted Laser Digital, the digital assets arm of Japan’s Nomura Bank, in-principal approval to provide broker-dealer services and asset/fund management services with both digital…
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The committee members suspect the Fed is trying to hold up Congressional efforts to pass stablecoin legislation by restricting banks’ actions. The Federal Reserve is seemingly running interference with congressional efforts to regulate stablecoins, according to a letter recently sent to Fed Chairman Jerome Powell. The letter came from Chairman of the U.S. House of…
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Custodia Bank, the financial institution that aims to bridge digital assets with the U.S. dollar payment system, is now live. Last month, Custodia started serving external business customers in select U.S. states, offering U.S. dollar deposits and government money market fund services, with bitcoin custody pending launch. The launch comes after overcoming regulatory pressures and…
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The upcoming FCA meeting is aimed at providing regulatory clarity for the digital asset ecosystem — cryptocurrencies, blockchain development and stablecoin payments. The Chairman of the House Financial Services Committee (FSC), Patrick McHenry, announced a markup of a few legislations, three aimed at providing regulatory clarity for the digital asset ecosystem — cryptocurrencies, blockchain development…
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Australia’s securities regulator has canceled the license of the local FTX entity, allowing it to perform only limited financial services. These will be related to the termination of derivatives with clients and arrangements to compensate retail customers. ASIC Revokes Financial Services License of Crypto Exchange FTX Subsidiary The Australian Securities and Investments Commission (ASIC) announced…
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