Provident Financial News

The European Council on Wednesday passed the new MiCA crypto regulation, by many seen as a turning point for Europe’s crypto industry.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

In a tweet dated 5 October, LunarCrush disclosed that 1Inch’s social engagements measured daily hit 33.23M. This level represented a new high point over the last three months. 1Inch is a decentralized exchange aggregator and also has a token, so what could be responsible for the aforementioned spike?

Magic Circle law firms Linklaters and Allen & Overy bled the most lawyers to rival firms over the past five years amid fierce competition from US legal giants, new data shows.

According to data from on-chain analytics platform Santiment, since its inception in May, OP, the native token of the Layer 2 scaling solutions provider Optimism, has registered growth in its on-chain activity.  

The Blockchain Technology Association of Nigeria (SiBAN) has urged the Central Bank of Nigeria (CBN) to reconsider its current anti-crypto policy that restricts commercial banks and other financial institutions from processing crypto-related transactions.

Hoping to capitalize on the rebounding crypto markets, San Francisco-based crypto index fund provider Bitwisehas rolled out BWEB, a new Web3 exchange-traded fund (ETF).

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

According to LunarCrush’s data, SushiSwap experienced its best hourly interaction in the past 90 days, with over nine million users actively participating.

Binance made a major expansion and partnership-related announcements recently. On 3 October, Binance announced that it signed a memorandum of understanding (MoU) with the Financial Monitoring Agency of Kazakhstan.

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

Anchorage Digital is making an entry into Asia with five new partnerships in the region.

Numerous private sector consortiums, central banks, and governments around the globe are debating the need and the potential that central bank digital currencies (CBDC) may bring to their society. The European Central Bank (ECB) and Bank of England (BoE) have dedicated working groups exploring the opportunities and risks at play, with several design choices drafted and published. Specifically, the Hackathon sought to address the potential risk of fragmentation in payments markets and retail deposits, unless interoperability between existing and new forms of money can be solved with this retail CBDC design. The Hackathon required participants to connect to Barclays’ simulation of a central bank, Payment Interface Providers (PIPs), commercial banks, and other ecosystem services. This simulation was based on the Bank of England’s (BoE) platform model for retail UK CBDC provision. The teams represented a range of players, including IBM, Lloyds Banking Group, Mastercard, Industria, REGnosys, Rethink Ledgers, UST, SDK.finance, and Barclays (Barclays was not eligible for a place).

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Magic Circle law firms Linklaters and Allen & Overy bled the most lawyers to rival firms over the past five years amid fierce competition from US legal giants, new data shows.

"There is an opportunity for the UK to benefit from this economic and social value, both domestically and globally," says the paper, adding that the country's position in global finance will be partly determined by its approach to the nascent sector.This year, Singapore has overtaken the UK as the number two destination for investment in DLT and crypto-asset based businesses.To fight back and ensure its place at the top table, the country must have a joined-up strategy across government, regulators and the legal system that is alive to the potential benefits as well as the risks of crypto-technologies, and provides clarity for businesses and consumers interacting with them, says the paper.There must also be a continued review of UK law and regulation to ensure it provides the basis for recognising digital assets and digital transactions, as well as an improvement in the responsiveness and service levels of the UK’s regulators in their processing of applications for new businesses in the sector.Separately, Ousmène Jacques Mandeng, a visiting fellow at the LSE and blockchain advisor at Accenture, has called for the launch of a CBDC and the issuance of blockchain-based gilts to support the competitiveness of the City of London.He writes: "The bank introducing a wholesale CBDC and the Treasury announcing that a significant share of gilts will be issued on blockchain could be catalysts for the adoption of blockchain-based financial applications.

Rather than considering or employing a one-size-fits-all approach, which could potentially restrict legitimate activity, issuers will be able to identify and turn away transactions with crypto merchants prone to fraud.Ajay Bhalla, president of Mastercard Cyber and Intelligence, says: “Crypto Secure will provide card issuers with a platform that allows them access to insights which will improve the safety of crypto purchases, increasing consumer confidence and creating the same trust they expect when paying with Mastercard.”Crypto Secure provides each issuer with a colour-coded dashboard which shows where their cardholders are buying cryptocurrency. The platform enables issuers to accurately identify the crypto exchanges and measure measure transaction approvals and declines.

The European Securities & Markets Authority (ESMA) has warned about the risks of increasing consumer rip-offs and operational failures as cryptocurrency adoption grows over time.

The latest insights into digital asset investment products (DAIP) and their weekly numbers highlight a troubling trend. Needless to say, such a trend is bound to come to the attention of investors too. 

The major crypto exchange FTX has listed a new perpetual futures contract for the US Dollar Index (DXY), ideal for traders who want to bet on the direction of the currently very strong US dollar.