Crypto firms

The Hong Kong Monetary Authority (HKMA) has issued a stern warning to cryptocurrency firms against using the term "bank" or describing their products as "deposits." This move comes amidst growing concerns over potential misrepresentation by crypto businesses, which could mislead...

The Monetary Authority of Singapore (MAS) has announced new requirements for Digital Payment Token (DPT) service providers to safe keep customer assets under a statutory trust by the end of the year. This move aims to mitigate the risk of loss or misuse of customers' assets and facilitate the...

Hong Kong is taking measures to position itself as a hub for virtual assets, as the city's regulators plan to hold a round-table discussion between cryptocurrency firms and bankers on April 28. What Happened: The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC...

Prominent crypto conglomerate Digital Currency Group (DCG) is seeking to secure new banking partners for its portfolio companies in the aftermath of the recent collapses of Silicon Valley Bank (NASDAQ: SIVB), Signature Bank, and Silvergate Capital Corp (NYSE: SI). Coindesk reported that...

The U.S. Securities and Exchange Commission (SEC) is set to propose rule changes that would make it harder for crypto firms to be designated as "qualified custodians," Bloomberg reported. The new rules would allow crypto firms to hold client assets for money managers. While the proposed...