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Standard Chartered has launched a digital asset custody service in the United Arab Emirates (UAE), licensed by the Dubai Financial Services Authority. The service aims to provide secure storage for digital assets, initially focusing on bitcoin and ethereum. Brevan Howard Digital is the first client, and the bank plans further expansion into additional digital assets. … Read more
The UK’s Financial Conduct Authority (FCA) has charged Olumide Osunkoya for operating unregistered crypto ATMs in the country. This case is significant as it represents the first prosecution under UK law for such activities. Osunkoya is accused of running a network of crypto ATMs that processed £2.6 million in transactions without registration, violating anti-money laundering … Read more
House Financial Services Subcommittee Chairman French Hill emphasized the need to understand decentralized finance technologies during a hearing. He criticized the Biden administration’s regulatory approach and urged Congress to keep discussions open on supporting defi innovation. Hill noted that current regulatory frameworks were created for a system reliant on centralized intermediaries, not the decentralized, peer-to-peer … Read more
Financial giant State Street Global Advisors has launched three digital asset and disruptive technology exchange-traded funds (ETFs) in collaboration with Galaxy Asset Management, focusing on blockchain, AI, and volatility management. These actively managed ETFs aim to capture market inefficiencies and adapt to the evolving digital asset space, offering investors exposure to cutting-edge technology trends through … Read more
The company is following the steps of Prometheum, which now treats four cryptocurrencies as securities. Go to Source
Ramp Network, a fintech company, has extended its cryptocurrency purchasing services to encompass all 50 U.S. states, including the District of Columbia. This growth, Ramp explained on Tuesday, broadens its user base by adding support for 17 more states, making it easier for users to buy and sell digital currencies. Ramp Network Covers 50 States, … Read more
Standard Chartered was approved by the Dubai Financial Services Authority to offer crypto custody solutions in the UAE. Go to Source
AI-powered deepfake scams are rising, targeting crypto wallets. Experts warn of evolving threats, urging users to protect their digital assets in 2024. Go to Source
The U.S. Securities and Exchange Commission (SEC) has issued a bulletin warning about the risks of bitcoin and ether exchange-traded funds (ETFs), highlighting their speculative nature. The regulator urged investors to consider potential issues like price volatility, fraud, and lack of regulatory oversight. SEC Warns Investors About Risks in Bitcoin and Ether ETPs The U.S. … Read more
The Federal Bureau of Investigation’s Internet Crime Complaint Center has revealed a sharp rise in cryptocurrency fraud complaints, with over 69,000 cases and $5.6 billion in losses. Investment scams accounted for 71% of these losses, highlighting the growing exploitation of digital currencies. The FBI further noted that crypto fraud represents nearly half of total losses. … Read more
