South Korea Strengthens Crypto Regulations with User Protection Act
South Korean cryptocurrency investors should expect tighter protections next month after the government approved new legislation to protect users in the case of a crypto exchange bankruptcy. The Financial Services Commission (FSC) declared on Tuesday that the enforcement decree, scheduled to go into effect on July 19, is a component of a larger plan to […]
Crypto Market Maker GSR Markets Restructures Management
GSR Markets, a digital asset liquidity provider, has announced a management restructure in anticipation of a cryptocurrency rise. GSR Markets, one of the oldest cryptocurrency market makers, announced management changes as part of their efforts to “better serve clients located in different time zones with crypto booming again.” A report from Bloomberg states that the […]
Nubank Partners Lightspark to Integrate Bitcoin Lightning Network
In order to integrate Bitcoin Lightning Network transactions into its operations, Nu Holdings (Nubank) has formed a strategic alliance. Leading neobank Nubank was established in 2013 and has its main office in Sao Paolo, Brazil. Services offered by the bank are dispersed throughout Colombia, Mexico, and Brazil. Its most recent statement highlights a novel collaboration […]
Zodia Custody Partners 21Shares for Crypto ETP
Zodia Custody becomes a leading custodian for 21Shares, bringing greater risk controls and regulatory compliance for institutional investors. The custodian provider for 21Shares’ physically backed exchange-traded products (ETPs) in Switzerland will be Zodia Custody, a British cryptocurrency custodian sponsored by Standard Chartered and SBI Holdings. In response to a “continuing sharp increase in ETP demand,” […]
EU Adopts 14th Package of Sanctions Against Russia
The European Union has introduced new sanctions targeting crypto providers outside of Europe that support Russia’s defense sector. In order to “target high-value sectors of the Russian economy, like energy, finance, and trade, and make it ever more difficult to circumvent EU sanctions,” European leaders have approved a new round of penalties. Restrictive measures on […]