The Securities and Futures Commission (SFC) of Hong Kong is seeking public input on its recently proposed licensing scheme for cryptocurrency exchanges. That is slated to go into effect in June 2023. On Feb. 20, the SFC announced the consultation process and detailed a new licensing framework for the industry.
According to reports, on June 1st, 2023, Hong Kong will officially make cryptocurrency purchasing, selling, and trading entirely legal for all of its residents. In Hong Kong, Interactive Brokers (IBKR) has started working with cryptocurrency exchange OSL Digital Securities. This is to provide cryptocurrency trading to professional investors. The objective
Thani Al-Zeyoudi, the UAE’s minister of state for international trade, highlighted that the country has gained a great deal of knowledge from the cryptocurrency industry and must now adopt the appropriate regulations to promote continued growth. According to Thani Al-Zeyoudi, cryptocurrency will soon play a significant role in the country’s
Cryptocurrency adoption and acceptance have increased the phase and broken down various barriers and stereotypes. The phrase ‘Banking the Unbanked’ is becoming the existential truth. As per stats from DataReportal in 2022, one in ten working-age people is holding or using cryptocurrency. One similar image with such a record is
As the entire crypto industry is facing a hectic crisis, crypto adoption in Brazil is booming tremendously. In the past few months, the global crypto market crashed affecting millions of thousands of investors in the community. Surprisingly over 40,000 Brazilian companies are in the record of Federal Revenue Service for
The adoption of cryptocurrency is spreading over the variant continents undoubtedly, but still, the position held by the fiat currencies is vital. It may take a few more years for crypto to be in everyday use. Prominent crypto firms like Binance, are acting as catalysts to speed up this process.
Santander plans to provide its Brazilian clients with access to crypto trading. Santander has already made inroads with crypto in Latin America. Spanish banking giant Santander intends to start offering cryptocurrency trading to its clients in Brazil in the upcoming months. Mario Leao, CEO of Santander Brazil, announced this on
BNP Paribas entering the custody space for crypto. Currently, the French bank has $13 trillion in assets . BNP Paribas (BNP), a French Bank, is going to start offering custodial services for Bitcoin and other digital assets. Over $13 trillion in assets are managed by the bank’s assets custodian, BNP
A license to operate in Dubai has been obtained by Singapore’s Fintonia Group. Ruler of Dubai announces a new Metaverse Strategy. Dubai Virtual Assets Regulatory Authority (VARA) has issued a provisional digital asset license to Singapore-based fintech investor and crypto fund manager Fintonia Group. The license placed Fintonia in the
Yachtzoo accepting Shiba Inu and Dogecoin as a payment. Dogecoin traded at $0.066279 and it increased by 3.15% in the last 24 hours. Many high-end firms already accept cryptocurrency payments for yacht buying and financing. Following that, Monaco-based Yachtzoo collaborated with BitPay to provide digital currency payment services. Leading cryptocurrencies
