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You know what they say, “when life gives you lemons, make lemonade.” But when it comes to protecting your crypto funds on centralized exchanges (CEXes), the old adage should be “when life gives you regulations, make a self-custody wallet.” Self-custody is undoubtedly a better solution for protecting the interests of customers in crypto. Regulation alone … Read more
Should the bill pass the legislature, Arizona voters could choose whether virtual currency is tax exempt as part of a November 2024 ballot measure. Go to Source Powered by WPeMatico
The team lead will determine the “strategic direction” for Treasury’s efforts to develop a digital pound in line with the U.K. government’s agenda. Go to Source Powered by WPeMatico
Banks could be required to hold a “risk-weighted exposure amount” of up to 1,250% of capital based on exposure to crypto if the full parliament passes the measures. Go to Source Powered by WPeMatico
According to South Africa’s Office of the FAIS Ombud, an independent dispute resolution office, individuals with crypto-related grievances that occurred after Oct. 19, 2022, can now formally submit such complaints on the agency’s website. However, the Office of the FAIS Ombud insisted that all complaints that occurred before crypto assets were designated financial products will … Read more
Singapore’s senior minister and the chairman of the central bank, the Monetary Authority of Singapore (MAS), says there should be just “one regulatory system” for both crypto and traditional finance. In addition, he stressed that regulators should provide “ultra clarity as to what’s an unregulated market,” so investors are aware that they go in at … Read more
The United Arab Emirates (UAE) minister of state for foreign trade says that cryptocurrency “will play a major role for UAE trade going forward.” He stressed: “The most important thing is that we ensure global governance when it comes to cryptocurrencies and crypto companies.” Crypto to Play a Major Role in the UAE United Arab … Read more
According to Megan Crowell, losing certain employees could “severely [limit] the debtors’ options” amid bankruptcy proceedings. Go to Source Powered by WPeMatico
On Monday, the New York Department of Financial Services (NYDFS) published guidance on custodial structures to help protect customers’ money if a crypto firm goes bankrupt. New York’s top financial regulator stressed that businesses should not commingle customer funds and that customer funds should be segregated with separate accounting. FTX Collapse Prompts NYDFS to Issue … Read more
“A VCE’s customer agreement should make clear the parties’ intentions to enter into a custodial relationship, rather than a debtor-creditor relationship,” said the NYDFS. Go to Source Powered by WPeMatico
