Martin Schlegel, the Chairman of Swiss National Bank (SNB), has described cryptocurrencies like Bitcoin and Ethereum as a “niche phenomenon” and unlikely to be a mainstay of the Swiss financial ecosystem soon despite their rapid growth in recent years. Speaking at an event in Brugg, Switzerland, Schlegel reportedly reiterated that ...
Indian authorities are investigating a cryptocurrency investment scam that has defrauded at least 320 individuals in Andhra Pradesh of millions by promising unrealistic monthly returns of 10%, according to a report from the Deccan Chronicle. The scheme, allegedly orchestrated by a single individual named “Ramanjaneyulu”, has resulted in reported losses ...
Pakistan is taking steps to legalise cryptocurrency as the government proposes amendments to the State Bank of Pakistan (SBP) Act, indicating a significant shift in its financial policy. As reported by local news outlet The Express Tribune, these amendments would empower the SBP to issue digital currency and oversee the ...
Taiwan’s Financial Supervisory Commission is set to introduce a registration system for crypto exchanges on November 30, earlier than anticipated. This move represents a significant advancement in regulating the rapidly growing crypto industry, according to local news source Anue Juheng. Speaking to the press after a recent session with the ...
Thai immigration officials have uncovered a cross-border cryptocurrency scam that defrauded a local woman of more than $620,000. As reported by the local news outlet Khaosod, five suspects have been arrested in connection with the scheme. These individuals, hailing from Cambodia, Myanmar, and Thailand, allegedly created a fraudulent investment group ...
OKX has named UK’s banking giant Standard Chartered as the third-party custodian for its services aimed at global institutional clients. According to the crypto exchange's Global Chief Commercial Officer Lennix Lai, this collaboration will enhance OKX's institutional services by connecting it with diverse markets worldwide through Standard Chartered's extensive cross-border ...
Sequoia Capital and several other venture capital (VC) firms are reportedly set to generate hundreds of millions of dollars in returns from Stripe's recent acquisition of the stablecoin infrastructure platform Bridge. According to Bloomberg, Sequoia holds a 16% stake in Bridge after an initial investment of $19 million in the ...
Hong Kong’s digital bank, ZA Bank, has started a sandbox trial for its new virtual asset trading service for select retail customers. In an October 29 press release, the bank highlighted the growing demand for virtual assets in Hong Kong, referencing a recent market study that found 75% of local ...
Hong Kong plans to expand its current tax concessions on privately offered funds and family offices to include cryptocurrency investments. During his speech at Hong Kong Fintech Week on October 28, Christopher Hui, Secretary for Financial Services and the Treasury, announced that by the end of the year, the government ...
Bitstamp has received a MiFID Multilateral Trading Facility (MTF) licence from Slovenia's Securities Market Agency, enabling it to offer crypto derivatives products such as perpetual swaps in the European Union. The Markets in Financial Instruments Directive (MiFID) governs traditional financial markets across the EU, covering assets like stocks, securities, and ...
