Tag: Bloomberg

JPMorgan Collaborates with Indian Banks to Launch Blockchain-Based Dollar Settlement System, Reported Bloomberg

JPMorgan Chase & Co., the American multinational investment bank, has formed an alliance with six Indian banks to inaugurate a blockchain-based platform that will handle interbank dollar transactions within India’s emerging International Financial Centre. This development, initially reported by Bloomberg, showcases the evolving landscape of financial technology (fintech) in India. Kaustubh Kulkarni, JPMorgan’s Senior Officer in charge of Indian operations and Vice Chairman for the Asia-Pacific region, indicated that the project would enter a pilot phase in the upcoming months. This period is crucial for gauging the experience and adaptability…

Asia-Based Digital Asset Firm HashKey Group in Early Stages of Raising $100M- $200M: Bloomberg

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Market Making Giants Jane Street and Jump Trading Retreating From Crypto Trading: Bloomberg

Both firms are still making markets and not abandoning the crypto industry entirely, Bloomberg said citing the person. However, Jane Street is scaling back its global crypto expansion plans, while Jump Crypto – the digital assets trading unit of Jump Trading – is pulling back from U.S. markets, although it’s still planning to expand internationally, the news outlet reported citing two people familiar with the matter. Source

U.S. Justice Department Investigating Binance For Russia-Related Sanctions Violations: Bloomberg

Additionally, in early May 2023, Israel reportedly revealed it had seized roughly 190 Binance accounts with alleged ties to terrorist groups, including two accounts to ISIS. Since neither Israel nor Binance explicitly said Binance had cooperated, it isn’t clear how Israel seized accounts on Binance without Binance’s cooperation, given Binance isn’t obliged to adhere to Israeli laws. Source

3% Tax on BTC and Other Crypto Transfers Part of Kenya’s Proposed Budget: Bloomberg

“Digital asset” includes anything of value that is not tangible and cryptocurrencies, token codes, and numbers held in digital form and generated through cryptographic means or otherwise, by whatever name called, providing a digital representation of value exchanged with or without consideration that can be transferred, stored or exchanged electronically; and a non-fungible token or any other token of similar nature, by whatever name called; and the income derived from transfer or exchange of a digital asset” means the gross fair market value consideration received or receivable at the point…

Nigeria’s SEC Plans to Allow Asset-Backed Tokens on Digital Exchanges But Not Crypto: Bloomberg

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Terra Co-Founder Daniel Shin Indicted in South Korea: Bloomberg

Shin’s lawyer Kim Ji-dong said he has “nothing to do with the … collapse as he left the company two years before the fallout,” according to the report. “He voluntarily returned to South Korea immediately after the collapse, and has been faithfully cooperating with the probe for over 10 months, hoping to contribute to fact finding.” Source

Crypto Lender Amber Group Weighs Selling Japan Unit: Bloomberg

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