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Policy
Citigroup and Fidelity International Introduce a Groundbreaking On-Chain Fund Concept Featuring Instant FX Swaps
CORRECTION (Nov. 4, 2024, 16:00 UTC): A previous version of this article incorrectly stated that Fidelity Investments was involved. However, the correct company is Fidelity International. Citigroup, a global banking giant, and Fidelity International, a leading asset manager with $862 billion in assets, have jointly developed a pioneering proof-of-concept for an on-chain money market fund. This f…
Nov. 4, 2024, 10:07 a.m.
Policy
Singapore Accelerates Tokenization Commercialization Efforts
Singapore's central bank, the Monetary Authority of Singapore (MAS), is set to launch initiatives aimed at driving the adoption of tokenization in the financial sector. These measures include establishing commercial networks to enhance liquidity for tokenized assets, developing market infrastructure, creating industry-wide frameworks for tokenized assets, and facilitating access to shared settl…
Nov. 4, 2024, 5:47 a.m.
Policy
Kemi Badenoch Takes Helm of U.K. Conservative Party
Following a four-month debate, Kemi Badenoch has been elected as the new leader of the Conservative Party. Her appointment comes after former leader Rishi Sunak stepped down, a decision that was made in the aftermath of the Labour party's significant victory in the recent general election. Badenoch secured the leadership role by defeating Robert Jenrick. In the past, the Conservative Party has s…
Nov. 2, 2024, 11:26 a.m.
Policy
Trial of Tornado Cash Developer Roman Storm Postponed to April
The highly anticipated trial of Roman Storm, developer of Tornado Cash, has been rescheduled for April, as ruled by a New York judge on Friday, marking a four-month delay from its original December start date. This postponement allows both parties to resolve their dispute over the disclosure of expert witnesses, which began last month when Judge Katherine Polk Failla of the Southern District of N…
Nov. 1, 2024, 8:26 p.m.
Policy
Establishing a Crypto Mine Near US Military Bases to Become More Challenging
Under a newly introduced rule by the US Department of the Treasury, foreign real estate transactions near sensitive US military bases will face heightened government examination. This development comes after President Joe Biden intervened in a China-linked crypto mining operation located near a Wyoming nuclear missile base earlier this year. The operation, known as MineOne, was in the process of …
Nov. 1, 2024, 8:09 p.m.
Policy
Banning Bitcoin Mining Can Have Unintended Consequences on the Environment, Research Reveals
Governments considering a ban on Bitcoin mining to mitigate environmental impact should reconsider, as this move could have the opposite effect. A new research paper by Exponential Science, a not-for-profit tech research firm, explores the unintended carbon consequences of Bitcoin mining bans. The study reveals that a blanket ban on Bitcoin mining can lead to an increase in the industry's overall…
Nov. 1, 2024, 7:14 p.m.
Policy
US SEC Targets Another Cryptocurrency Company, Immutable Receives Wells Notice
Immutable, a Web3 gaming company, revealed on Friday that it has been served a Wells Notice by the US Securities and Exchange Commission. The notice was received shortly after the company's initial interaction with the SEC and lacked substantial details about the investigation, instead citing statutory provisions. Immutable believes the SEC's claims are focused on the private sales and listing of…
Nov. 1, 2024, 7:11 a.m.
Policy
Florida CFO Expects State's $800M Crypto Holdings to Surge Under Trump Administration
According to Florida's Chief Financial Officer, Jimmy Patronis, the state's existing $800 million investment in crypto assets may expand further under a potential Trump presidency. Patronis expressed his optimism during a recent CNBC interview, criticizing those who dismiss cryptocurrency as misguided. He envisions Miami as a potential hub for the crypto industry and advocates for diversifying th…
Nov. 1, 2024, 6:40 a.m.
Policy
Binance Founder CZ Receives Warm Welcome in Dubai, Unveils New Educational Initiative
DUBAI - Following his release from a US prison, Binance founder and former CEO Changpeng Zhao was met with a standing ovation upon his return to the crypto scene. At the Binance Blockchain Week conference, attendees gathered to hear Zhao's first public appearance since his release last month, after serving a four-month sentence for violating the Bank Secrecy Act. The event, which took place ove…
Oct. 31, 2024, 1:23 p.m.
Policy
US Treasury Advisory Panel Sees Potential in Tokenization, But Warns of Need for Central Oversight
The US Treasury Department's advisory committee has released a report highlighting the potential benefits of tokenizing US debt and other assets, including increased efficiency and reduced settlement risk. However, the committee also cautioned that the development of tokenized markets may require a centralized authority to oversee and regulate the space. The report noted that even small improveme…
Oct. 30, 2024, 8:42 p.m.