1: State Street Bank plans to provide cryptocurrency custody services
State Street Bank announced the reorganization of its digital asset team. Its digital asset department has already started recruiting, less than six months after the department laid off employees. It is reported that the bank plans to provide cryptocurrency custody services. This move reflects State Street Bank’s growing confidence in the digital asset market. Cryptocurrencies and tokenized assets will be more integrated into the financial system.
2: Qatar Central Bank has launched CBDC, focusing on large-value payment settlements between large banks
According to Cointelegraph, the Qatar Central Bank (QCB) has launched the first phase of the central bank digital currency (CBDC) project, focusing on large-value payment settlements between large banks. The project will last until October and focus on distributed ledger technology, artificial intelligence, liquidity and securities trading. QCB began researching CBDC technology in March 2022 and confirmed the launch of the project in June of the same year. Sheikh Bandar bin Mohamed bin Saoud al-Thani, governor of QCB, said the central bank is evaluating the pros and cons of issuing CBDC. A day before announcing the CBDC project, QCB launched a new fintech sandbox to provide a rapid testing and evaluation process. The project is part of the national development strategy.
3: Coinbase donated $25 million to the US election
According to Bloomberg, Coinbase CEO Brian Armstrong posted that Coinbase has donated $25 million to the Fairshake SuperPAC to help increase donations to elect candidates who support digital assets.
4: Wu Jiezhuang: 10 JPEX victims plan to file civil claims, and the "Web3 and Virtual Asset Development Subcommittee" will hold its first meeting
According to Economic Times, Hong Kong Legislative Council member Wu Jiezhuang said that about 10 victims plan to file civil claims against JPEX. If the claims are successful, the amount of compensation will refer to the amount of money deposited by the parties. Wu Jiezhuang added that the "Web3 and Virtual Asset Development Subcommittee" requested to be established last year will hold its first meeting. It is hoped that in the next 12 months, loopholes in current regulations can be reviewed and optimization measures can be studied to ensure the sustainable and responsible development of Hong Kong's virtual asset industry, as well as to discuss how to strengthen the protection of relevant investors and enhance market confidence.
5: Deutsche Bank will support German crypto traders to make real-time payments on BitPanda
According to Cointelegraph, German cryptocurrency traders can now enjoy the convenience of real-time deposits and withdrawals on the BitPanda platform, thanks to the platform’s recent partnership with Deutsche Bank. This cooperation not only improves transaction efficiency and security, but also provides strong liquidity support for BitPanda’s German users.
Deutsche Bank will provide BitPanda with an API-based account solution that will allow it to access the German International Bank Account Number (IBAN), an internationally recognized code that helps banks securely process international transfers. BitPanda plans to use this service to improve the efficiency and security of fund transfers, allowing users in the region to enjoy a number of benefits, including deposits and withdrawals using the German IBAN.
6: Thailand SEC approves Thailand’s first Bitcoin spot ETF
According to the Bangkok Post, the Thai Securities and Exchange Commission approved local asset management company One Asset Management (ONEAM) to launch a Bitcoin spot EFT, namely ONE-BTCETFOF-UI. This ETF is Thailand's first BTC spot ETF and is scheduled to be issued between May 31 and June 6. The investment risk level is eight and the target customers are high-net-worth individuals and institutional investors.
7: Binance: Plans to restrict European users from using unauthorized stablecoins
Binance officially announced that the new stablecoin rules implemented by the EU Crypto-Asset Market (MiCA) framework will take effect on June 30, 2024, affecting stablecoins and the broader digital asset market throughout the European Economic Area (EEA). Binance will restrict the use of unauthorized stablecoins by users in the European Economic Area, implement phased changes and product restrictions to ensure compliance and minimize market disruption. Binance will adopt the approach of transitioning users from unauthorized stablecoins to regulated stablecoins as more regulated stablecoins are available in the market, thereby smoothly achieving MiCA goals.
8: HashKey Exchange CEO: User groups in "sensitive regions" may affect Hong Kong's cryptocurrency license decision
According to The Block, HashKey Exchange CEO Livio Weng said that the Hong Kong Securities and Futures Commission may have considered user bases from "sensitive regions" when reviewing license applications from certain international cryptocurrency exchanges. Weng told The Block in an interview on Monday that he could not elaborate on "sensitive regions", but this seemed to be the main focus of negotiations between the Hong Kong Securities and Futures Commission and the exchanges, which have now withdrawn their license applications.
