Ras Al Khaimah, known for its rich cultural sites, is turning to the digital assets sector to diversify its economy away from traditional avenues such as tourism.
Inspector General wants FDIC to refine crypto risk assessment process, guidance
The bank deposit insurer should assess the sufficiency of its risk mitigation measures and then provide them in a more organized manner, the inspector general found.
South Korean regulator outlines steps to enhance digital asset legislation
The Virtual Asset Users Protection Act was passed in June without a sufficient regulatory framework, the head of South Korea’s Financial Supervisory Service said.
SEC plans scrutiny of crypto dealer-brokers, transfer agents, per 2024 exam guide
The SEC sets examination priorities based on feedback from examiners and input from investors and the industry.
Hata receives in-principle approval to be fifth Malaysian digital exchange
The new exchange was founded by an executive from Malaysian market leader Luno. It will target investors, businesses, and high-net-worth individuals.
Basel Committee to consider disclosure requirements for banks’ crypto assets
The committee already imposes a limit on crypto holdings in bank reserves, but the concentration of crypto in a small number of banks contributed to the March crisis, it said.
Tokenization is “securitization done on steroids” — Franklin Templeton CEO
Speaking at CNBC’s Delivering Alpha event, Jenny Johnson discussed how digital assets are disrupting securitization and the financial markets.
Exchanges federation touts crypto trading regulation, integration with TradFi
The World Federation of Exchanges, whose members handled $140 trillion in trades in 2022, has some concerns as its members adopt DLT.
Nomura’s Laser Digital receives in-principal approval for operations in Abu Dhabi
The Japanese bank joins a rapidly growing number of digital asset firms operating in Abu Dhabi and the rest of the United Arab Emirates.
Standard Chartered-Backed Zodia Custody Now Available in Singapore
Zodia Custody, a cryptocurrency storage provider and a subsidiary of Standard Chartered, has launched in Singapore, to provide digital asset custody services for financial institutions.
FTX has $222M in Bahamas real estate, 1,300 tokens — Shareholder presentation
Ten percent of shareholder claims have been settled so far. They will be able to assess the company’s condition at a Sept. 11–12 meeting.
‘Pure’ DeFi has little chance for real-world use because of need for oracles: BIS
According to the BIS researchers, a centralized oracle based on trust is the only option for DeFi, and variations of that model do exist.
Aave, Circle, Base become founding members of Tokenized Asset Coalition
It’s a big day for asset tokenization as many of the biggest names in the field announced the formation of association to further its development.
IRS releases draft of proposed reporting rules for digital asset brokers
House Financial Service Committee chair Patrick McHenry said the rules are part of “the Biden Administration’s ongoing attack on the digital asset ecosystem.”
Securitize acquires $40b crypto fund manager Onramp
Digital securities firm Securitize will provide new alternative assets to major cryptocurrency firms like WisdomTree and Valkyrie Invest.
Strict Canadian crypto exchange rules allowed Kraken clarity to invest there, exec says
Kraken’s Canada managing director told Cointelegraph in an interview that attaining restricted dealer status provided a clear regulatory pathway.
Crypto asset investment in Latvia declines by 50% over past year, per central bank
According to Latvijas Banka, 4% of the population bought crypto assets in February, down from 8% in 2022, while payments “continue to prevail.”
Toyota GR Cup will award digital trophies on Polygon blockchain to race winners
Toyota continues its ongoing exploration into integrating blockchain technology within its corporate and developmental ecosystems.
SEC chief accountant warns accountants about liabilities when auditing crypto firms
Paul Munter says making or allowing misleading statements can have serious consequences for accounting forms and individual accountants.
‘Pro crypto bill’ passes out of US House Agriculture Committee
The Republican bill, dubbed FIT for the 21st Century, was drafted by two House committees and passed after strenuous preparations by members of both parties.