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Bitcoin is back on the rise today following the latest announcement by the SEC that its chair Gary Gensler will be stepping down from his post. In a move that came following mounting pressure, Gary Gensler announced he is officially stepping down from his role as chairman on January 20th. There has been growing speculation on his future in the SEC and a potential replacement since Donald Trump won the US election, and now the Chair has stamped his future. The news of Gensler stepping down from the SEC was a big win for crypto enthusiasts and investors. His resignation comes after a reign as chair where he made crypto regulation a priority, putting the hammer down on Bitcoin ETFs and crypto crime. With Trump’s cabinet being much more crypto-friendly, Gensler’s position in the SEC was always under threat. He ran the SEC as an anti-crypto unit, prolonging the approval of crypto ETFs and pursuing multiple lawsuits against crypto companies. Even the rest of the US government agr...

The multinational Standard Chartered Bank has officially begun offering Bitcoin and other crypto custodial services to the United Arab Emirates (UAE). The services officially began on Tuesday, according to a press release. Moreover, the offering will be provided through Brevan Howard Digital, a crypto division of the hedge fund, as its very first client. The bank was approved by the Dubai Financial Services Authority to offer custody services. Indeed, it is another example of the UAE’s position at the forefront of crypto regulation. The institution noted that the offering debuts following a memorandum of understanding (MoU) signed in May of last year. Source: Reuters Also Read: Standard Chartered, JPMorgan Blockchain Payment Firm Raises $60M Standard Chartered Bank Launches Crypto Custody Offering in UAE The last several years have seen crypto regulation on a global scale evolve. Nations have sought to develop the ways in which they govern the growing sector. During that process, ...

The U.K. introduced regulation that enables the Financial Conduct Authority and the Bank of England to oversee a digital securities sandbox for testing tokenized securities and distributed ledger technology. Effective Jan. 8, this initiative allows the Financial Conduct Authority (FCA) and the Bank of England to oversee a controlled testing environment for tokenized securities. The sandbox concept permits companies to experiment with innovative financial solutions under regulatory supervision. The digital securities sandbox (DSS) focus extends beyond tokenized securities, encompassing the exploration of distributed ledger technology to digitize traditional securities. With global financial institutions increasingly embracing asset tokenization, U.K. regulators are taking proactive measures to comprehend and regulate this evolving landscape. Firms participating in the DSS will be subject to tailored regulations if existing ones impede progress, as outlined in the accompanying ...

The former Deutsche Bank employee, Rashawn Russell, was arrested in April 2023. Russell is accused of causing at least 29 investors to lose not less than $1.5 million. Russell fabricated multiple documents and misled investors regarding the status of their investments to orchestrate his scheme. Rashawn Russell, formerly employed as an investment banker at Deutsche Bank, has admitted his guilt in connection with allegations of embezzling funds from investors enticed by promises of substantial returns from cryptocurrency trading, as confirmed by the US Justice Department. The news comes right on the heels of Deutsche Bank tapping Swiss crypto firm Taurus for crypto custody services. This plea comes on the heels of Russell’s arrest in April, which implicated him in an intricate fraudulent operation. He now confronts the possibility of a prison sentence of up to 30 years , in addition to the obligation to reimburse investors with a sum exceeding $1.5 mill...