Investor protection regulations have been under discussion since September 2022 amid the crypto lending crisis that saw firms such as BlockFi and Celsius declare bankruptcy. Thailand’s Securities and Exchange Commission (SEC) has issued new rules for digital asset service providers focused on investor protection. The new guidelines require digital asset service providers to offer adequate warnings…
Read more
MAS is also working to restrict crypto service providers from facilitating lending or staking for retail customers, but not for institutional ones. Singapore’s central bank is introducing new measures to improve investor protection and market integrity in the cryptocurrency industry. On July 3, the Monetary Authority of Singapore (MAS) announced new requirements for crypto service…
Read more
Bitcoin margin and futures markets display strength as institutional appetite surges after multiple spot ETF requests. After a failed rally above $31,000 on June 23, Bitcoin (BTC) has sustained the $30,300 resistance for the past three days. Curiously, this happened while gold reached its lowest level in three months, trading at $1,910 on June 22,…
Read more
The U.S. SEC was at the top of BlockFi creditor’s list with a $30 million settlement balance from February 2022. The United States Securities and Exchange Commission (SEC) has agreed to postpone the payment of a $30 million fine from bankrupt crypto lender BlockFi until creditors are paid back. The amount represents the balance of…
Read more
“We will come up with a plan to recover the loss,” said company officials. According to a recent report by local news outlet Decenter, South Korean crypto lending platform Delio will resume withdrawals, albeit with no fixed schedule, after pausing them on June 14. In a meeting with investors on June 17, CEO Jung Sang-ho…
Read more
Eurozone banks are profitable but the benefits from higher interest rates may be smaller than expected, according to the deputy head of the single currency area’s monetary authority. The official noted that while most of the tightening has been done already, more rate increases are to come. Euro Banks Have Solid Fundamentals, ECB’s de Guindos…
Read more
Certain Celsius users, largely those who only ever held funds in custody accounts, had previously been limited to withdrawing up to 94% of their funds. Crypto lending platform Celsius has reported that certain users will be able to take out 100% of their original funds more than 300 days after the platform froze withdrawals. In…
Read more
Borrowing positions automatically roll their expiry and can be refinanced should one party unilaterally decide to terminate. On May 1, nonfungible tokens (NFTs) marketplace Blur launched Blend, a peer-to-peer perpetual lending protocol that supports NFT collateral. Developed with venture capital firm Paradigm, developers cite Blend’s rationale as a means of “financialization to scale.” 4/ Every…
Read more
Only 2.42% of claimants favor restructuring, and they are almost exclusively company directors. Withdrawals were frozen in August. Creditors of Singapore-based cryptocurrency lender Hodlnaut have again expressed their desire to liquidate the company, which has been under judicial management since August 2022. There is no white knight investor on the horizon, interim judicial manager (IJM)…
Read more
Hong Kong-based Babel Finance will have more than a year to repay debts to its creditors after suspending withdrawals in June 2022. Troubled cryptocurrency lending firm Babel Finance has more time to repay debts to creditors like Deribit after suspending withdrawals in 2022. A court in Singapore has extended creditor protection for Babel Finance by…
Read more
