A wallet controlled by the FTX bankruptcy estate has received tranches of the Arbitrum airdrop from several wallets linked to Alameda Research, on-chain data shows.
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Author: Oliver Knight
Some worry the text, a version of which was already agreed on by the European Parliament, will prove impossible to meet for most smart contracts.
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Author: Jack Schickler
Episode 29 of Season 5 of The Scoop was recorded at Paris Blockchain Week with The Block’s Frank Chaparro and Nasdaq VP, Global Head of Strategy Matt Savarese.
Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher, or wherever you listen to podcasts. Feedback and revision requests can be sent to podcast@theblockcrypto.com.
In this episode — recorded at Paris Blockchain Week 2023 — Matthew Savarese, VP, Global Head of Strategy at Nasdaq, lays out his company’s plan for entering the digital asset space. As Savarese explains, Nasdaq hopes to soon offer crypto custody solutions, which is the first of many steps on the exchange operator’s roadmap for digital assets.
During this episode, Chaparro and Savarese also discuss:
- Nasdaq’s expertise in traditional finance
- Institutional interest in digital assets
- Tokenized carbon credits
This episode is brought to you by our sponsors Circle, Railgun, Flare Network
About Circle
Circle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit Circle.com to learn more.
About Railgun
Railgun is a private DeFi solution on Ethereum, BSC, Arbitrum and Polygon. Shield any ERC-20 token and any NFT into a Private Balance and let Railgun’s zero-knowledge cryptography encrypt your address, balance and transaction history. You can also bring privacy to your project with Railgun SDK, and be sure to check out Railgun with partner project Railway Wallet, also available on iOS and Android. Visit Railgun.org to find out more.
About Flare
Flare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that can use data from other blockchains and the internet. By providing decentralized access to a wide variety of high-integrity data from other blockchains and the internet, Flare enables new use cases and monetization models. Build better and connect everything at Flare.Network.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: Davis Quinton and Frank Chaparro
All social media presence was deleted and Kokomo tokens fell 95%.
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Author: Shaurya Malwa
Federal Deposit Insurance Corporation says the 17 former branches of Silicon Valley Bank will re-open as First Citizens Bank & Trust Company on Monday, March 27.
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Author: Sam Reynolds
Cathy Wood’s fund bought COIN and SQ on Thursday and Friday last week after Coinbase tumbled on getting hit with a Wells Notice and Block took a hit following a short-seller’s report.
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Author: Greg Ahlstrand
Raleigh, N.C.-based First Citizens is the 30th largest bank in the U.S., with $109 billion in assets, and recently completed an acquisition of New York-based commercial lender CIT.
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Author: Sam Reynolds
ALSO: Sam Reynolds writes that decentralized derivatives platforms are having a liquidity problem. The shortage may stem from crypto traders current caution, but at least one analyst is optimistic that the situation will change.
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Author: Sam Reynolds
Nasdaq is betting its established reputation will help it secure a strong place in the world of crypto.
The 52–year-old exchange operator is waiting on approval from the New York Department of Financial Services by the end of June to begin offering custody to clients. Nasdaq announced its intention to move into crypto following the collapse of Three Arrows in July, and has been pushing ahead even with the slump in cryptocurrency prices and the subsequent bankruptcies of FTX, Voyager Digital, Celsius Network and more.
“Trust had started to break down a little bit and they really needed that trusted player to come in,” Matt Savarese, Nasdaq’s head of strategy for digital assets, told Frank Chaparro on The Scoop podcast, recorded in Paris.
The turmoil led the company to reevaluate its decision to move into the space.
“We are on the right path,” Savarese said. “Having that foundational aspect of custody was absolutely critical, and we see institutions, they’re not even backing away from the space, but they’re actually looking for players like us to say, great, they know how to deliver it. They’ve done it for 50 years. They’re innovative in a regulatory environment as well.”
It’s not an easy time to be seeking permission from regulators to operate in crypto. U.S. agencies have been consistently cracking down on crypto-related companies. Among some of the actions being taken, in February, the NYDFS ordered crypto infrastructure firm Paxos to stop issuing the stablecoin Binance USD. And last week, the U.S. Securities and Exchange Commission sent a Wells notice to Coinbase notifying the company of investigations into several offerings.
Nasdaq isn’t stopping at custody.
“The next step for us is execution and liquidity services,” Savarese said. “And then we build on our anti-financial crimes so we can monitor this throughout the ecosystem.”
Nasdaq is “hopeful” that it will receive regulatory approval within the first half of the year.
“We are optimistic,” Savarese said, to which Chaparro responded: “NYDFS is not a fan of crypto right now, but I will put a spoon under my pillow for you.”
For more on Chaparro’s chat with Nasdaq, have a listen when the next episode of The Scoop is released March 27 at 5 a.m. EDT.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: Christiana Loureiro
Crypto assets are featured in the European Union’s anti-money laundering package and have taken up considerable space in negotiations. On Tuesday, policymakers in two of the European Parliament’s committees overseeing the bill will vote on adoption of the text.
It currently includes several requirements for the crypto industry and firms offering services within the EU. While this vote is a step forward for the bill, it will still be subject to change. After the committees’ vote, the AML bill will need to pass a plenary vote before entering inter-institutional negotiations.
Decentralized autonomous organizations and decentralized finance platforms are also subject to the anti-money laundering rules. They will be obliged as long as they are “controlled directly or indirectly, including through smart contracts or voting protocols, by identifiable natural and legal persons,” according to a draft obtained by The Block.
Unlike the EU’s soon-to-be-enforced Markets in Crypto-Assets regulation, the anti-money laundering bill does include NFT platforms as obliged entities. The aim is to close the regulatory gap.
Credit and financial institutions will need to apply due diligence measures if enabling crypto transactions worth more than €1,000 ($1,080). Plus, there are enhanced due diligence measures for correspondent relationships with crypto service providers from outside the EU as well as for payments involving self-hosted wallets.
For commercial crypto payments, there will be a restriction on transactions of more than €1,000 in value stemming from self-hosted wallets, unless the owner of the wallet is identified. There is a mandate for the European Commission to assess whether to adjust the rule on commercial payments in three years’ time, to align with regulations including the European Union’s digital identity framework, as well as the newly proposed Anti-Money Laundering Authority’s requirements.
Anonymous crypto accounts, as well as bank accounts, would be prohibited under the regulation. Other anonymizing tools including privacy wallets, mixers and tumblers are dubbed as higher risk. The Commission will also assess if they should be prohibited in the future.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: Inbar Preiss
