Digital Assets

El Salvador’s government has presented a bill to congress for regulating cryptocurrencies and related assets beyond just Bitcoin.  The legislation brings the Central American country a step closer to its goal of issuing blockchain-based Bitcoin-bonds. The Digital Securities Law The “Digital Asset Issuance Law” was presented by a spokesperson for the Salvadoran presidency late Tuesday. The legislation seeks to establish a dedicated crypto commission and Bitcoin Fund Management Agency for overseeing crypto debt sales. Tether CTO Paolo Ardoino said on…

According to reliable sources, California-based Cambrian asset management reaped about a 76% profit from virtual assets from the start of 2021 through August. The $200M financial entity trades around 50 digital assets with leverage against the assets’ volatile nature. The hedge fund started treading the digital-asset fund landscape about three years ago. Over the years, it garnered specialists from big firms like Winton Capital. The firm projects to widen its scope enough to serve more crypto enthusiasts. Additional Investment Assets for Investors In…

Payment provider company PayPal has lifted the purchase limit of bitcoin and other cryptocurrencies to $100,000 per week for eligible customers in the United States and removed annual limits altogether. The company is also getting rid of its yearly purchase limit of $50,000. PayPal's weekly crypto purchase limit was $20,000 in February. The payments giant first let customers buy, sell, and hold cryptocurrencies — bitcoin, ethereum, bitcoin cash, and litecoin — directly from their PayPal accounts in October 2020, following…

Per a June 29 Reuters report, TP ICAP, the world's largest interdealer broker, has partnered with Standard Chartered and Fidelity Investments to launch a crypto-trading platform. The venture, which awaits approval from the U.K.'s Financial Conduct Authority, will integrate connectivity and a post-trade structure into a network of crypto-asset custodians. The TP ICAP-led consortium consists of StanChart's digital custody unit (Zodia), Fidelity Digital Assets, and Amsterdam-based Flow Traders. Zodia and Fidelity will act as crypto asset custodians, while Flow Traders…

According to their Head of Digital Assets, Mathew Mcdermott, Goldman Sachs would soon be launching trading of futures and options for Ether trading for its clients. Moreover, the bank plans to move away from focusing on Bitcoin alone since it took another step toward more crypto acceptance earlier this year. The New York-based bank reopened its dormant trading desk to help customers deal in publicly traded futures linked to Bitcoin, offering its derivatives to its client, which is a move…

After a decade of existence, bitcoin is now more than ever working itself out of the financial fringes and gradually entering the mainstream financial world. More individuals and institutions continue to view crypto as an alternative to standard currency, making proponents believe that digital cash is the wave of the future. The total value of all cryptocurrencies currently stands at over $2 trillion. This sheer scale and critical mass that the digital asset class has achieved is far outpacing regulatory…

Unease festered in the digital assets space over the past week as major coins such as BTC, ETH and ADA parried massive gains. The slide for crypto came amid heightened anxiety from investors after China underscored its resolve to crack down on crypto mining and trading. Meanwhile, the US Treasury Department unveiled its intent to enforce anti-money laundering laws. US financial watchdogs also proposed that cryptocurrency businesses start reporting over $10K to the government. Fear over intensifying crypto regulation inflicted…

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The Binance Coin has seen an explosive price action this month, leading it past the $300 mark. Currently trading at slightly over $200, the coin can account for its boom due to its parent company's continued advances. Looking behind its success story is the crypto exchange Binance, founded in 2017 by Changpeng Zhao. The exchange ecosystem operates as a centralized exchange to solve low market liquidity, platform insecurity, and many more. The exchange managed to make massive strides ever since…