Prime Trust Files for Bankruptcy
Fintech Prime Trust, a company that manages cryptocurrency, has filed for Chapter 11 bankruptcy in the US. Prime Trust has selected former Bank of Nevada president John Guedry as the receiver. He will direct the company’s activities throughout the bankruptcy process along with other representatives. Nevada’s regulatory authorities determined that the business was bankrupt and […]
Singapore Unveils New Regulatory Framework for Stablecoins
Singapore’s Monetary Authority (MAS) has introduced regulations for stablecoins linked to the Singapore Dollar or other major fiat currencies. Any stablecoin valued over S$5 million will now fall under MAS regulation. This step aligns with Singapore’s aim to boost digital asset innovation and stability. The MAS believes well-regulated stablecoins can facilitate advanced practices like on-chain […]