Tag: Digital

Blockchain.com Obtains Digital Payment Token License in Singapore

The Monetary Authority of Singapore (MAS) has granted a Major Payment Institution License (MPI) to the popular cryptocurrency exchange Blockchain.com. With this license, the platform will be able to provide digital payment token services to institutional and accredited investors. On August 7, 2023, it was disclosed that the application had been approved, and on August 1, 2023, the license was issued. The license comes after Blockchain.com received in-principle approval from MAS in September of the previous year. As of now, there are 3,427 companies that have been granted licenses, with distribution…

Multicoin Backer L1 Digital Raises $152M for Second Crypto Venture Capital Fund

L1D is registered with FINMA, Switzerland’s independent financial markets regulator, and manages one alternative investment fund plus the now two venture capital funds, which are backed by professional and institutional clients, including Swiss pension funds, family offices, wealth managers and banks. Founded in August 2018, L1D has had experience with both raising and deploying funds during a bear market. Source

Some Users May Want an ‘Everything App’, but What We Need Is Digital Sovereignty

At a time when our lives are only becoming increasingly digital, why should we hand all of our information to centralized, opaque organizations that have a track record of using it unethically? Sure, these services can be profoundly convenient, and many people undoubtedly enjoy having one user-friendly application that can manage so much of their digital and real lives, but what’s the price? Source AppDigitalSovereigntyUsers CryptoX Portal

US lawmakers urge White House to address North Korea’s use of digital assets: Report

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Three members of the United States Senate have reportedly sent a letter to the White House and Treasury Department in an effort to crack down on North Korea using cryptocurrency to fund its nuclear program and evade sanctions. According to an Aug. 4 report in The Wall Street Journal, Sens. Elizabeth Warren, Tim Kaine and Chris Van Hollen requested the Biden administration provide information on how the U.S. government was working to address the illicit use of digital assets by the Democratic People’s Republic of Korea. The letter cited reports…

Crypto Investor HashKey Aims to Raise $100M for New Digital Assets Fund

HaskKey Capital, a digital asset financial services firm, announced plans to launch a liquid digital assets fund regulated by the Hong Kong Securities and Futures Commission (HK SFC) on September 1. HashKey is aiming to raise at least $100 million for the open-ended fund, which will focus entirely on virtual assets, a HashKey representative told CoinDesk. Original Source 100MAimsAssetsCryptoDigitalFundHashkeyInvestorRaise CryptoX Portal

Digital Bank Revolut Suspends U.S. Crypto Operations Citing ‘Regulatory Environment’

The platform said it took the “difficult decision” with its U.S. banking partner because of an “evolving regulatory environment” in the country. Regulators there, led by the Securities and Exchange Commission, have been cracking down on crypto, targeting exchange platforms like Coinbase (COIN) and Binance, as well as a host of individual tokens including Solana’ SOL and Polygon’ MATIC, alleging violations of federal laws. Source

Digital Dollar Project completes CBDC retail remittance pilot with Western Union

The Digital Dollar Project (DDP) announced the completion of a pilot study of remittance payments to the Philippines using a simulated retail central bank digital currency (rCBDC). Western Union and BDO Unibank were partners in the project. The project used a version of the DDP’s Champion Model. In it, a simulated central bank issued CBDCs to an intermediary bank, which provided access to it to Western Union (WU) for remittance to a BDO Unibank customer in the Philippines. WU used a decentralized exchange (DEX) to trade a dollar CBDC for…