Deutsche Bank, Germany’s largest lender, is developing a layer-2 (L2) blockchain solution on Ethereum using ZKsync technology to address compliance challenges in regulated finance. Known as Project Dama 2, the initiative aims to enhance transaction efficiency while integrating robust regulatory safeguards, according to a report by Bloomberg. The L2 solution, part of the Monetary Authority...
The Grayscale Bitcoin Trust (GBTC) has recorded more than $21 billion in outflows since January, making it the only spot Bitcoin exchange-traded fund (ETF) in the United States to post a negative net investment flow. Despite its January 11 launch, GBTC continues to shed millions daily, while other spot Bitcoin ETFs have seen consistent inflows....
Binance has recorded over $24 billion in user deposit inflows so far in 2024, surpassing all other cryptocurrency exchanges combined, according to data from DefiLlama. In a blog post on December 12, Binance attributed the significant growth to rising global adoption of digital assets, regulatory successes, record price milestones, and the launch of spot Bitcoin...
Outgoing Reserve Bank of India (RBI) Governor Shaktikanta Das has outlined a vision for India’s economic future powered by a central bank digital currency (CBDC). On his final day in office on December 10, Das emphasized the transformative potential of the digital rupee, positioning it as a cornerstone of India’s modern economy. In a farewell...
The cryptocurrency sector may face a significant regulatory transformation as SEC Commissioner Hester Peirce, widely known as “Crypto Mom,” unveils a blueprint for reform aimed at fostering transparency and innovation. Her proposals arrive as the U.S. prepares for a shift in leadership, with the incoming Trump administration expected to take a more crypto-friendly stance. Peirce’s...
Polish authorities have arrested Dmitry V., the former head of the now-defunct Russia-based crypto exchange WEX, following an extradition request from the United States Department of Justice. The arrest, reported on December 6 by Reuters and local Polish outlet Rzeczpospolita, marks the latest in a series of legal actions tied to WEX’s collapse and subsequent...
El Salvador, the first country to adopt Bitcoin as legal tender, is reportedly preparing to scale back its Bitcoin ambitions to secure a $1.3 billion loan agreement with the International Monetary Fund (IMF). According to a report by the Financial Times on December 9, the agreement would require the government to remove a legal mandate...
The Financial Services Commission (FSC) of South Korea has denied reports suggesting it plans to publish a roadmap for permitting corporate crypto accounts by the end of the year. The clarification comes after Korea Economic Daily cited unidentified sources claiming that the FSC had developed a phased plan that would allow corporate entities to trade...
German fintech company 21X, one of the four applicants for a blockchain trading infrastructure permit under the European Union’s DLT Pilot Regime, has received regulatory approval to launch a tokenization platform. The firm was granted a license to operate a blockchain-based trading and settlement system regulated by European laws, according to a Dec. 3 announcement....
Brazil’s central bank, Banco Central do Brasil (BCB), has proposed a ban on transferring stablecoins to self-custodial wallets, coinciding with the Brazilian real hitting all-time lows against the U.S. dollar. On Nov. 29, the BCB issued a proposal that would prohibit transfers of stablecoins like Tether’s USDt (USDT) to wallets like MetaMask, which are self-custodial...
