Swiss-based Sygnum has made a significant development in its crypto banking operations by securing a license in Liechtenstein. The license, obtained through its local subsidiary Sygnum Europe AG, was recognized by the Financial Market Authority (FMA) of Liechtenstein. This positioning under the Token and Trusted Technology Service Provider Act (TVTG) allows Sygnum to legally provide
Regulation
The landscape of cryptocurrency and decentralized finance (DeFi) is fraught with uncertainty, particularly for new ventures attempting to capture market attention. Recently, former President Donald Trump announced his involvement with a DeFi project named World Liberty Financial. However, this initiative does not enjoy a free pass from the regulatory challenges plaguing the crypto space in
In recent developments, German authorities have taken significant steps to combat the rising tide of cybercrime linked to cryptocurrency by shutting down 47 exchanges accused of facilitating illegal transactions. This enforcement operation, spearheaded by the Central Office for Combating Internet Crime (ZIT) and the Federal Criminal Police Office (BKA), underscores a growing recognition of the
In a significant shift towards digital financial innovation, Louisiana has recently introduced a groundbreaking option for residents to pay state agencies using cryptocurrencies, namely Bitcoin and the stablecoin USDC, as announced in a press release dated September 18. The Louisiana Department of Wildlife and Fisheries has stepped up as the pioneer, first agency to accept
In the rapidly evolving landscape of digital assets, the intersection of non-fungible tokens (NFTs) and securities regulation has sparked significant debate. Recent actions by the U.S. Securities and Exchange Commission (SEC) against the Flyfish Club, a high-end dining establishment that raised substantial funds through NFT sales, provide a poignant case study in the ongoing struggle
The debate surrounding election-related prediction markets has recently gained attention, particularly following Congressman Ritchie Torres’ initiative to direct the Commodity Futures Trading Commission (CFTC) towards a regulatory framework that nurtures innovation instead of stifling it. Amidst growing public interest in platforms like Kalshi and Polymarket, the central question arises: how should these markets be governed
In recent years, cryptocurrency has emerged as a burgeoning market, drawing interest not only from tech-savvy individuals but also from institutional players. However, with its growth comes increased risk, particularly in the realm of cryptocurrency custody. The intricacies of safeguarding these digital assets are starkly different from traditional asset management, making this sector one of
In a significant development for the cryptocurrency trading sector, eToro has announced it will suspend trading for most digital assets available on its platform, a decision resulting from a settlement with the U.S. Securities and Exchange Commission (SEC). Following a thorough investigation by the SEC, it was revealed that eToro had allowed U.S. customers to
Recent developments in the oversight of the Securities and Exchange Commission (SEC) have ignited a political firestorm, casting a shadow over the integrity of one of the nation’s key regulatory bodies. Lawmakers have initiated a formal investigation into potential political bias within the SEC’s hiring processes. This investigation, communicated through a letter dated September 11,
The issue of “pig butchering” scams within the cryptocurrency market has been growing at an alarming rate, leading to billions in losses for unsuspecting victims. The lack of awareness and understanding surrounding these scams has made it easier for fraudsters to exploit individuals and manipulate them into investing in fake projects. In response to the
