Author: Coindesk
Sheinbaum has indicated that the economic-integration between the U.S. and Mexico is such that whoever, Donald Trump or Joe Biden, comes to power, she’s confident of having a good relationship with both, if she came to power. Mexico is the largest market for remittances from the U.S. Her party’s government has so far kept crypto on the sidelines of financial integration, imposing a 20% tax on crypto gains, but without comprehensive legislation. A fintech law and other regulations require cryptocurrency exchanges in the nation to be registered under global requirements for anti-money laundering and terror financing. Read the full article…
The Wall Street giant opened up bitcoin ETF purchases after they had been approved earlier this year. However, this was done only on an unsolicited basis. The bank is now looking to let its brokers pitch bitcoin ETFs directly to its customers, the report added. Read the full article here
Congressional movement, both in the Senate and the House, on stablecoin legislation picked up pace in the past few weeks. Waters said that the U.S. Federal Reserve, the Treasury Department and the White House have all had input in crafting the bill, the report said. Read the full article here
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The current institution emerged in 1999 as the result of a merger, but the family tree goes back as far as 1818. Despite being owned by the Federal State of Baden-Württemberg, the Savings Bank Association of Baden-Württemberg, and the City of Stuttgart, LBBW has typically been more aggressive than many of its peers. It is one of the largest participants in Germany’s bond market, one of the largest real estate lenders in Germany, and yet can still boast high debt ratings. Read the full article here
“We’ve mapped out the user journey of a DeFi and Web3 trader,” Madar said in an interview. “Usually, it starts when you scan with your phone and connect to a dApp and are asked to start signing transactions. We put mitigations and detection mechanisms throughout this journey. For instance, we scan the transaction, we scan the counterparty, we try to make sense of the contract, and also offer transaction simulation, essentially giving you the bottom line of what you should be expecting.” Read the full article here
Strike, a product of Chicago-based Zap Solutions that is led by entrepreneur Jack Mallers, launched in the U.S. in 2020. The app can be compared to Cash App or PayPal, two popular online payment systems, in that it lets customers send and receive money around the world. The difference is that Strike uses the Bitcoin blockchain to do so, making transfers faster and cheaper than other alternatives. Read the full article here
“An approval of the stablecoin bill would accelerate institutional blockchain innovation, in particular for tokenization or digital bond issuances involving on-chain payments,” O’Neill said, adding that the “growth of institutional use cases for stablecoins would create opportunities for banks as stablecoin issuers and may also reduce tether’s dominance in the global stablecoin market.”S&P said that USDT is issued by a non-U.S. entity and therefore is not a permitted payment stablecoin under the proposed bill. This means that U.S. entities can’t hold or transact in it, which could reduce USDT’s demand while at the same time giving a boost to U.S.-issued…
Currently, on-chain RWAs represent a $7.5 billion market. While this might seem marginal relative to the tens of trillions of dollars worth of assets managed traditionally, the pace of growth and the increasing range of assets being tokenized — including treasuries, commodities, private equity, real estate, private credit, and others — suggest a tipping point. A 2022 Boston Consulting Group report estimated that the market for tokenized assets could grow to $16 trillion by 2030, which would greatly enable DeFi protocols catering to these assets to develop entire new financial ecosystems across lending, liquidity pools, futures and derivatives, and other…
The approval comes after U.S. regulators three months ago greenlit the first spot-based bitcoin ETFs in that country, a major breakthrough for the crypto industry that expanded the investor base for the largest and oldest crypto asset and dominated the digital asset market narrative for months. Led by global asset management giant BlackRock’s offering, the funds have since amassed over $12 billion in net inflows,, helping propel BTC one month ago to a fresh all-time high price over $73,000. Read the full article here