Digital Asset Financial News

crypto market is witnessing its best performance since April 2022, with Bitcoin crossing the $41,000 mark. Experts say growing confidence in the crypto market is driven by expectations of the US Federal Reserve cutting interest rates in 2024 and the eventual approval of a Bitcoin ETF, which could boost the price of the world's largest cryptocurrency. The digital asset has skyrocketed this year, rising nearly 150%, with expectations growing that US regulators will allow the creation of ETFs. «The sentiment is upbeat because the buzz is that the Bitcoin ETF could be approved as early as by January 15, 2024. The market is buzzing with optimism as it is a catalyst for wider institutional acceptance and integration of Bitcoin into mainstream financial portfolios. This sentiment is intertwined with the upcoming Bitcoin halving, an event historically associated with price increases due to the resulting supply shock,» said Rajagopal Menon, Vice President at WazirX. Bitcoin was trading above $41,600 at around 5:27 pm on Monday.

DigiFT, a decentralized exchange for digital assets, has obtained a capital markets services (CMS) license from the Monetary Authority of Singapore (MAS). 

London-based crypto trading firm Copper plans to start offering tokenized securities early next year, according to reports on Nov. 29. Under the leadership of former British Chancellor Phillip Hammond, the company expects to capitalize on institutional investors' demand.

The International Organization of Securities Commissions (IOSCO) — an international regulatory body overseeing global securities markets — has released its conclusive report containing policy suggestions for crypto and digital asset (CDA) markets.

Crypto firm Bakkt appears to be returning to digital asset custody as its primary business, adding support for six new coins, according to an announcement on Nov. 15. 

Web3, blockchain, crypto and mass adoption were major buzzwords in 2021 and 2022, but the public interest in the terms fell to the wayside over the last year as media headlines narrowed their focus to the now defunct FTX exchange and the trial of its founder, Sam Bankman-Fried. 

The Hollywood actors’ union SAG-AFTRA concluded its strike on Nov. 9 after 118 days of picketing with new deals on various proposed stipulations including artificial intelligence (AI) usage. 

The Frankfurt Stock Exchange has listed the creation of a digital asset platform making development areas of its “Horizon 2026” strategy.

The National Bank of Georgia (NBG) has selected Ripple Labs Inc., a leading blockchain payments platform, as the official technology partner for developing Digital Lari, their central bank digital currency (CBDC) project.

Rules for crypto asset promotion that came into force in the United Kingdom on Oct. 8 have led to some confusion, judging from the low level of compliance. The Financial Conduct Authority (FCA) responded with additional guidance for crypto firms to help them fall into line.

The tokenization of real-world assets has been tipped as a major use case of blockchain technology that could drive Web3 adoption. In episode 35 of Cointelegraph’s Hashing It Out podcast, host Elisha Owusu Akyaw interviews Sanjay Raghavan, vice president of Web3 Initiatives at Roofstock onChain, about tokenized real estate on the blockchain and how digital real estate investing interacts with the nonfungible tokens market and the decentralized finance landscape. Raghavan also talks about fractional nonfungible tokens (NFTs), regulations and the risks related to Web3 real estate platforms.

The Securities and Futures Commission (SFC) of Hong Kong has issued two circulars to regulate digital asset tokenization.

Welcome to the latest edition of Cointelegraph’s Nifty Newsletter. Keep reading to stay up-to-date with the latest stories on nonfungible tokens. Every Wednesday, the Nifty Newsletter informs and inspires you to dig deeper into the latest NFT trends and insights.

Turkey is reportedly drafting fresh regulations to govern crypto assets in an effort to convince the Financial Action Task Force (FATF) — an international organization responsible for combating financial crimes — to remove it from a “grey list” of nations that have not done enough to combat money laundering and terrorist financing.

Enforcement Directorate (ED), the income tax department, and the Central Bureau of Investigation (CBI) with vital data on crypto assets. The objective is to monitor and curb the use of cryptocurrencies in illegal activities like crime and money laundering. The goal is to augment the regulatory framework surrounding the digital asset market, which has often been likened to the Wild West due to its lack of oversight. The envisaged database will serve as a repository of critical information on crypto exchanges, aiding regulators in monitoring and ensuring compliance within the crypto sphere. The Genesis of the Database The goal of this ambitious project is to construct a centralized system capable of monitoring various elements of crypto transactions. The database will not limit itself to recording activity within India alone. Instead, it intends to include a raft of information from major international exchanges, such as Binance, Bybit, and Kucoin. By doing so, it will offer governments worldwide a panoramic view into the often opaque world of crypto asset transactions. Detailed Oversight

The digital era is in full swing, and with it comes a surge of opportunities that promise to redefine the business landscape. The buzz around blockchain technology and Web3 functionalities is real and for a good reason.

The Depository Trust & Clearing Corporation (DTTC) has signed an agreement to acquire Securrency, a digital asset infrastructure developer. The acquisition will allow DTCC to embed digital assets gradually in its existing products and services, it said. Terms of the deal were not disclosed. It is expected to close “within the next several weeks.”

The Inspector General’s Office (OIG) of the Federal Deposit Insurance Corporation (FDIC), the independent United States government body that provides deposit insurance to commercial and savings banks, has published an evaluation report on the corporation’s crypto asset risk strategy. A redacted version of the report has been released to the public. 

Ras Al Khaimah ruler Sheikh Mohammed bin Saud bin Saqr Al Qasimi inaugurated the new RAK Digital Assets Oasis (RAK DAO), an economic free zone dedicated to supporting companies involved in digital and virtual assets, blockchain, Web3 and artificial intelligence (AI) on Oct. 19.

South Korea’s Financial Supervisory Service (FSS) is preparing regulations to supplement the Virtual Asset Users Protection Act passed earlier this year, according to local reports. New regulations should be ready by January, well ahead of the law entering into force, the FSS head said.

The United States Securities and Exchange Commission released its 2024 examination priorities report on Oct. 16. The agency’s Division of Examinations has been publishing similar reports for over a decade to let its registrants know the emerging risks it will be focusing on. Crypto dealer-brokers, among others, have been given notice.