“Hammond said that while the letter might provide cover for smaller banks, major ones would need more reassurance before they’d be willing to enter the space. The way banks are likely to dip their toes in is by going the sub-custody route, he said, by partnering with small specialist organizations.
I don’t expect you will see much change in the next three to four months, but then we might see some acceleration thereafter.
Now that this activity is going to be regulated, I expect the cheapest solution for bigger banks is to have some kind of semi-derisked trial of this is to use someone as a sub-custodian.”
See Also: Crypto’s $35T Moment Could Come From Analog-World Stock Listings
“Bitcoin may be the original, but it’s living in an Ethereum world. Nearly $180 million in Bitcoin is now locked on the Ethereum blockchain among formats like Wrapped Bitcoin (WBTC), Synthetix’s sBTC, and the Ren Project’s renBTC.
Less than $10 million is currently locked in Bitcoin’s Lightning Network.
The rapid growth since the end of June, when Ethereum-locked BTC was just crossing the $100 million threshold, reveals how dominant Ethereum is becoming in the world of decentralized finance, as DeFi use cases and yield farmers hunting for more liquidity to increase their gains drive demand.”
See Also: Ether Leaves Bitcoin Behind With 2020 Gain of Over 100%
See Also: Analyst: Token Sale Boom Suggests Major Bull Run Has Already Started
“Bitcoin is a form of “money” covered under the Washington, D.C., Money Transmitters Act, a federal court said Friday.
Chief Judge Beryl A. Howell wrote that money ‘commonly means a medium of exchange, method of payment, or store of value. Bitcoin is these things.'”
“Major Japanese financial services company SBI Holdings now owns a 10% stake in the digital security offering platform Boostry. 54% of the platform is owned by Nomura Holdings.
The agreement between Nomura and SBI comes as the security token sector has shown consistent growth. Rivals are quickly moving to enter the space, with Watchdog Capital announcing a new U.S.-based securities offering platform on July 23.”
“Ant Group, which runs Alibaba’s Alipay mobile payments platform, this week announced its public listing will occur in Shanghai and Hong Kong but not New York. This is a big deal. U.S.-based investors will now be denied access to this monster primary share offering.
Excluding the company from SEC oversight is consistent with China’s resistance to allowing the U.S. any gatekeeping capacity over future blockchain-based payments and value exchange systems.
Until the digital assets era, the U.S. enjoyed uniquely influential powers over the exchange of analog money and property around the world. This was on account of the dollar’s reserve status, which meant the currency settlement in any international exchange almost always flowed through a U.S.-regulated bank. China’s blockchain-integrated digital payments system could bring an end to that era.”
“José Delbo, a comic book artist who has drawn for both DC and Marvel, kicks off a week-long exhibition today (July 23) in the Ethereum-based virtual reality world, Decentraland.
The artist, who started his career at the age of 16, is known for drawing Wonder Woman for DC Comics and Transformers for Marvel. He is releasing a number of digital images in the VR world for viewing and sale at the in-game MakersPlace gallery, with proof of ownership recorded using blockchain technology.“
“Delta Exchange, a crypto derivatives platform, announced the launch of an interest rate swap contract for DAI.
The contract will allow its purchasers to enter interest swaps on the Dai Savings Rate, which the exchange sees as a way for Maker (MKR) borrowers to fix their stability fee interest payments, which are routed into the Savings Rate as earnings for DAI holders.”
“Opera’s web browser is slowly amassing a following among those advocating for a decentralized internet, with 170,000 users now engaging with its built-in Ethereum, Tron and Bitcoin wallets every month.
While the firm would not provide a breakdown of the numbers by blockchain, Charles Hamel, head of crypto at Opera, said Ethereum is ‘by far the most popular.‘”
“According to rumors circulating in Polkadot’s community chats, the proposed offering will be structured as a Dutch auction starting at a price of $120. After 72 hours, the asking price will be decreased as per the rules of a Dutch auction.
Further rumored details suggest that only Bitcoin (BTC) will be accepted as currency. A vesting period of five months will be reportedly required as well.
If the rumors are true, this would be the second token sale for DOTs. The first was only offered to private investors at the inception of the project.”
“The son of former Renault and Nissan head and fugitive Carlos Ghosn used Coinbase to pay two men $600,000 in bitcoin to get his father out of Japan last December.
U.S. prosecutors said Wednesday that Anthony Ghosn sent 63 bitcoin to Michael and Peter Taylor. Coinbase gave evidence to Japanese investigators this week.
Michael Taylor, a former green beret, and Peter Taylor are currently being held by U.S. authorities on the request of Japan, which is trying to extradite them.”
The Disrupt 