SEC Commissioner Hester Peirce released a new statement on crypto vaults and lending strategies, and the message is more nuanced than a simple pro-crypto or anti-crypto headline. Peirce’s July 22 statement, titled “Headstands and Summervaults: A Statement on Crypto Vaults and Lending Strategies,” asserts that putting an activity on chain does not automatically cause it … Read more
BNY Mellon’s European subsidiary joined the MiCA register as ESMA added 15 PSAPs, including banks and crypto platforms, in the third post-deadline update. European authorities have added 15 crypto companies, including a BNY Mellon unit, to the Master Registry for Crypto-Asset Markets (MiCA) in the third update of regulated providers since the July 1 transition … Read more
The Financial Action Task Force says more jurisdictions are adopting crypto rules, but enforcement remains the weak point. In its seventh targeted update on the implementation of the FATF standards for virtual assets and virtual asset service providers, the global watchdog reported that 83% of surveyed jurisdictions have adopted legislation to implement the Travel Rule. … Read more
Blockaid said an attacker embezzled approximately US$450,000 from Garden Finance’s HTLC contracts on Ethereum, Base, Arbitrum and BNB Smart Chain. Cross-chain bridging and atomic swap protocol Garden Finance has temporarily taken its application offline after blockchain security firm Blockaid reported an exploit targeting the protocol’s timed hash contracts (HTLCs) on four blockchain networks. Sunday, Blockaid … Read more
Sberbank, Russia’s largest bank, plans to build a cryptocurrency trading infrastructure, including a digital depository, no later than December 1, as the country integrates cryptocurrency trading, custody and settlement into its regulated financial system. This digital repository, Interfax reportedwill record ownership of the cryptocurrency and process most transactions outside of the main blockchain. Sberbank will … Read more
Kraken offers perpetual futures contracts to eligible U.S. traders through a regulated derivatives structure, which is a notable change for a product category that typically lives outside of the U.S. market. The exchange said the product is offered through NinjaTrader Clearing, LLC, doing business as Kraken Derivatives US, a CFTC-registered futures commission merchant. Contracts are … Read more