The standards for Virtual Asset Service Providers (VASPs) in Hong Kong are set “incredibly high” as the Securities and Futures Commission (SFC) is wanting the crypto industry to match the same compliance standards as traditional financial firms. Speaking to Cointelegraph at the Hong Kong WOW Summit, Lucy Gazmararian, the founder of crypto venture firm Token Bay Capital and an SFC…
Ethereum is one of the most popular and widely-used blockchain protocols. While its native coin ether (ETH) can be used to make payments like cryptocurrencies such as litecoin (LTC) or bitcoin cash (BCH), Ethereum was designed to be a far more flexible and feature-rich blockchain protocol. Ethereum allows for the execution of smart contracts and decentralized applications (dApps). It also…
PostFinance, a retail bank fully owned by the Swiss government, is preparing to offer cryptocurrency trading and storage services to its customers. The PostFinance bank has partnered with the local cryptocurrency bank Sygnum to offer its customers a range of regulated digital asset banking services, the firms announced on April 5. The partnership will specifically allow PostFinance customers to buy,…
Users with funds stuck on the multi-chain token bridge provided by Allbridge are first in line to receive compensation under a recovery plan posted by the project following a recent exploit. In an April 5 statement, Allbridge said it has already started a compensation process for users despite only “partly recovering funds” after it was hacked for roughly $573,000 on…
Egon von Greyerz, market analyst and founder of Matterhorn Asset Management, is predicting the collapse of the central bank system in the next few years due to an increasing issuance of currency and debt. Von Greyerz states that in the face of an economy with no buyers, the only hedge will be tangible assets, including gold and silver. The Collapse…
Bob Lee, the former chief technology officer of Square and creator of Cash App has died following a stabbing in San Fransisco in the early hours of Tuesday, April 4 local time. Bill Barhydt, the CEO of crypto wallet company Abra, tweeted on April 5 that Bob Lee “was killed in SF early today” sharing an April 4 report from…
Ether (ETH) has breached $1,900 for the first time in over seven months, a week before staking withdrawals are enabled in the next major update for the second-largest cryptocurrency by market capitalization. CoinMarketCap data shows the last time Ether was over $1,900 was on Aug. 16, 2022, amid a broader crypto sell-off at a time when the United States Federal…
China and Malaysia are considering moving forward on discussions regarding an Asian Monetary Fund as distancing from U.S. dollar hegemony becomes a greater priority in the region. On April 4, Malaysian Prime Minister Anwar Ibrahim reportedly said China was open to a proposal to set up an Asian Monetary Fund. The concept of the Asian-focused fund was floated at a…
Fabio Panetta, a member of the executive board of the European Central Bank (ECB), has stated that companies increasing their profit margins could be helping to fuel inflation. In an interview with the New York Times, Panetta warned about the effect that companies increasing such margins could have on inflation levels in the long term. ECB’s Panetta Links Profit Margins…
The U.S. Department of Justice (DOJ) says it has seized cryptocurrency worth over $112 million linked to fraudulent investment schemes known as “pig butchering.” According to court documents, the seized crypto accounts were allegedly “used to launder proceeds of various cryptocurrency confidence scams,” the Justice Department said. $112 Million in Crypto Seized by DOJ The U.S. Department of Justice (DOJ)…
