The asset management firm 21Shares has become the latest participant in the competitive race to establish spot exchange-traded funds (ETFs) focused on XRP. On November 1, the company submitted its S-1 registration form to the U.S. Securities and Exchange Commission (SEC), aiming to list its Core XRP Trust shares on the Cboe BZX Exchange. This
Regulation
As the United States gears up for the upcoming elections, the cryptocurrency sector has once again found itself under the regulatory microscope. The U.S. Securities and Exchange Commission (SEC) has intensified its scrutiny of blockchain companies, a trend highlighted by the recent Wells notice issued to Immutable, a prominent player in the blockchain gaming space.
The Bank for International Settlements (BIS) has initiated a groundbreaking initiative called Project Mandala in collaboration with several central banks, including those from Australia, Korea, Malaysia, and Singapore. Announced in an October statement, this project aims to address the multifaceted regulatory challenges that arise during cross-border transactions. As globalization tightens its grip on financial systems,
In a significant open letter addressed to Vice President Kamala Harris and former President Donald Trump, Charles Cascarilla, CEO and co-founder of Paxos, articulated a pivotal concern regarding the future of America’s financial leadership. He argued that the next presidential administration must actively embrace digital assets and pursue reforms of antiquated financial regulations to ensure
In a notable move for the cryptocurrency sector, Gemini, the well-known exchange founded by the Winklevoss twins, has announced that it has received in-principle approval from the Monetary Authority of Singapore (MAS) for cross-border money transfer and digital payment token services. This development, made public in an official statement on October 29, signifies Gemini’s intentions
In the rapidly evolving landscape of digital currencies, the Satoshi Action Fund is at the forefront of advocating for State-based legal protections for Bitcoin self-custody. This initiative mirrors strategies successfully employed by the cannabis industry to navigate the complex web of federal regulations. As Bitcoin continues to gain traction among users and investors alike, the
In a groundbreaking collaboration, the United States and Nigeria established the Bilateral Liaison Group aimed specifically at tackling the rising tide of cryptocurrency-related crime and illicit financial activities. This partnership, announced on October 23, showcases the US’s commitment to uniting with Nigeria to enhance the West African nation’s capabilities in combatting cybercrimes. Though both countries
In an era where digital currencies are increasingly shaping the economic landscape, the UK’s Financial Conduct Authority (FCA) finds itself at the center of a heated debate regarding the regulation of cryptocurrency businesses. In a recent blog post, Val Smith, the FCA’s head of payments and digital assets, defended the agency’s rigorous regulatory framework. This
In a recent address at the Vienna Macroeconomics Workshop, Federal Reserve Governor Christopher Waller articulated a perspective that challenges the notion of decentralized finance (DeFi) as a disruptive force meant to entirely overhaul traditional financial systems. Instead, he posits that DeFi is likely to coexist with established financial frameworks, serving as a supplementary innovation rather
The emergence of cryptocurrencies has revolutionized the financial landscape, opening new avenues for investment and innovation. However, this burgeoning industry is not without its pitfalls. Recently, the European Securities and Markets Authority (ESMA) highlighted a disturbing trend: a significant surge in cyberattacks targeting crypto platforms. Amidst these escalating threats, the need for more stringent cybersecurity
