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The new regulation mandates crypto companies submit their coin listing and delisting policies for NYDFS approval. Company policies will be measured against more stringent risk assessment standards set forth by the NYDFS to protect investors. Technological, operational, cybersecurity, market, liquidity and illicit activity risks of the tokens are among the factors to be considered by the NYDFS. The incoming changes apply to all digital currency business entities licensed under the New York Codes, Rules and Regulation or limited purpose trust companies under the state’s banking law. (Source: Cointelegraph)

The CEO of Binance, Changpeng Zhao, has resigned and pleaded guilty to a US criminal charge for not adequately preventing money laundering, in which he may face imprisonment of approximately 1 to 10 years. Binance, the largest cryptocurrency exchange, has also pleaded guilty to similar charges and agreed to pay over US$4.3 billion in fines and fees. (Source: CBS news)

In a press release earlier this year, Javier Milei stated, "we have to understand that the central bank is a scam." He further expressed, "bitcoin is representing the return of money to its original creator, the private sector." However, he has not taken the step of suggesting the adoption of bitcoin as a legal form of currency. Instead, he advocates for the abolition of the country's central bank and the adoption of a dollarized economy in Argentina, which has been severely affected by inflation, reaching a staggering 142% in October. Source: https://www.coindesk.com

Canada's Office of the Superintendent of Financial Institutions (OSFI) is consulting on crypto-asset disclosure requirements for federally regulated financial institutions. The consultation aligns with a similar inquiry by the Bank for International Settlements (BIS) and fulfills the 2023 federal budget's commitment to develop guidelines for banks to safeguard Canadians' savings and the financial sector's security. Source: https://cointelegraph.com

The Blockchain Association has expressed its support for six plaintiffs who are suing the United States Treasury Office of Foreign Assets Control (OFAC) regarding its sanctions on Tornado Cash, a crypto mixer. In a brief submitted to a U.S. appellate court on 20 November 2023, the advocacy group argued that OFAC's decision to impose sanctions on the privacy protocol was unlawful and went beyond its authorised powers. Source: https://cointelegraph.com

The International Organization of Securities Commissions (IOSCO) has issued a comprehensive report with policy recommendations for crypto and digital asset markets. The report aims to establish a coordinated global regulatory framework to tackle the significant risks associated with centralised crypto asset service providers (CASPs) and ensure investor protection and market integrity. These suggestions are vital in shaping a unified approach to regulating the CDA markets worldwide. Source: https://cointelegraph.com

Tykhe Capital Group Limited launched Hong Kong’s first real estate security token offering through its subsidiary, Pioneer Asset Management Limited. PRINCE Token is available to professional investors only and at the minimum investment amount of HK$1,000. This launch aims to raise a total of HK$100 million to fund the acquisition of five interconnected shops in Prince Edward, West Kowloon. Investor returns include rental income and anticipated appreciation in property value. Launching real estate security tokens can save at least one-third of monetary and time costs when comparing with initial public offerings (IPOs) and real estate investment trusts (REIT) listings. Subject to regulatory approval, PRINCE Token may be listed on HKbitEX in the future to boost liquidity. Source: https://tokeninsight.com

Asset management firm Valkyrie has reportedly submitted an application to the US Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) focused on investments in Ether futures. This development comes in the wake of the crypto market’s rebound this year and rising interest from major asset managers like BlackRock in introducing derivative-based products such as ETFs. While the US regulator has approved Bitcoin futures ETFs since October 2021, it has rejected several applications for spot bitcoin ETFs, citing concerns over potential market manipulation and fraud. Source: https://www.reuters.com

Cryptocurrency exchange Coinbase has secured approval from the National Futures Association (NFA) to roll out crypto futures investment for eligible US customers. With this approval, Coinbase is allowed to operate a Futures Commission Merchant (FCM) platform and launch Bitcoin and Ether futures contracts via its Commodity Futures Trading Commission (CFTC)-regulated derivatives exchange. However, these services would not be immediately available to US investors. In its release, Coinbase emphasised the dominant role of the crypto derivatives market, accounting for 75% of the global crypto trading volume. Source: https://cointelegraph.com

The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has granted approval to the virtual asset firm M2 to operate a multilateral trading facility in the UAE capital. Scheduled for a late 2023 launch, the M2 platform aims to serve both institutional and retail investors in the UAE, facilitating trade and custody of virtual assets like Bitcoin and Ether. It will also enable the buying of cryptocurrencies using fiat currency and provide access to derivatives and yield services. CEO Stefan Kimmil regards this licence as a crucial initial step, highlighting their dedication to ongoing collaboration with ADGM. Since rolling out its virtual asset regulatory framework in 2018, ADGM has positioned itself as a significant hub for cryptocurrency firms. Source: https://cointelegraph.com

London-based asset manager Jacobi Asset Management has launched the first spot Bitcoin ETF in Europe on the Euronext Amsterdam exchange. This ETF allows investors to tap into the Bitcoin market without directly owning or holding the digital currency. The ETF, which trades under the BCOIN ticker, uses the FT Wilshire Bitcoin Blended Price Index to pull real-time average Bitcoin prices from select crypto exchanges. Fidelity Digital Assets will oversee its custodial components. This launch closely follows the Melanion Capital’s Bitcoin Equities ETF debut on Euronext Amsterdam exchange in June 2023. Source: https://cointelegraph.com

Binance Connect, previously known as Bifinity when introduced on 7 March 2022, will reportedly discontinue its services on 16 August. This decision comes as a result of its payment service provider withdrawing support for card payments. Originally launched to bridge the gap between traditional finance and the crypto world, the platform allowed fiat-to-crypto exchanges that supported 50 cryptocurrencies and major credit cards such as Visa and Mastercard. The news follows Binance Australia’s suspension of fiat services in the same month due to a third-party issue. Source: https://cointelegraph.com