News list for "escrow"
Japan's Financial Services Agency (FSA) is considering introducing a new regulatory regime that would make it mandatory for digital asset custodians and transaction management service providers to register with authorities before offering services to crypto exchanges. According to Nikkei coverage, the issue was discussed at a Financial System Commission working group meeting on Nov. 7. The new rules are designed to close existing regulatory gaps and prevent security incidents like the 2024 DMM B...
A court filing revealed that troubled digital asset custodian Fortress Trust (recently renamed Elemental Financial Technologies Inc.) is on the verge of bankruptcy, with a serious gap between its assets and liabilities. Nevada regulators issued a cease-and-desist order to the custodian on October 22, saying that Fortress' current liquidity position was "completely unable to meet customer reimbursement obligations".
The New York State Department of Financial Services (NYDFS) has released new guidance on how licensed cryptocurrency custodian entities (VCEs) should structure custody to ensure that the actual ownership of digital assets remains with the customer, even in the event of a breach.
According to Cointelegraph, House of Doge, a subsidiary of the Dogecoin Foundation, has established a strategic partnership with Bitstamp, which is responsible for the custody of its DOGE assets.
According to the official announcement, Binance announced that Tripartite Custody has become an officially live, fully operational solution. Tripartite Custody is an institutional-oriented custodial solution that allows the custody of fiat and traditional financial (TradFi) collateral in regulated third-party banks, while allowing users to trade on Binance. The latest version lowers the barriers to entry, requires no volume commitment, and exempts pledged funds from...
Last year, when the Hong Kong Finance and Treasury Bureau consulted the public on virtual assets over the counter (OTC), it proposed that the Commissioner of Customs and Excise would issue licenses and the Customs would regulate the OTC services of virtual assets. Xu Zhengyu, the Secretary for Finance and Treasury of Hong Kong, explained that after proposing to hand over OTC to customs for regulation, some members of the Legislative Council raised different opinions, including concerns about reg...
Digital asset infrastructure firm Taurus (whose clients include Deutsche Bank and State Street) has launched the first private stablecoin contract for Financial Institution Groups and enterprises, aiming to address the concerns of users who are hesitant to use stablecoins due to privacy concerns. Built on the privacy-conscious Aztec Network (powered by a16z), the contract combines zero-knowledge privacy protection with compliance features designed with reference to the USDC model, including feat...
According to Ember monitoring, 30 minutes ago, Stake Stone's deployer address received 10,000 USD1 test transfers from the official escrow address of USD1. USD1 is a US dollar stablecoin launched by WLFI, a DeFi project backed by the Trump family, while StakeStone is a full-chain liquidity distribution, and the core product is LiquidityPad/Vault. According to Ember analysis, StakeStone may be the first DeFi protocol casting service provider of USD1, or it may be that StakeStone is preparing to o...
On March 6th, the Sui ecological lending agreement Suilend posted on the X platform 1 hour ago: "We are currently experiencing an outage due to a problem with the third-party hosting service provider. Our team is actively investigating this issue and working to resolve it as soon as possible. Funds are safe because this is just a front-end issue." Regarding this issue, Suilend just released an update saying: "We have discovered the issue and are actively seeking a solution." After checking, the ...
According to River Research, Bitcoin's losses due to self-custody mismanagement have exceeded exchange-related events, totaling about 1.60 million BTC (worth over $1.50 billion), higher than the 1.20 million BTC (over $1.10 billion) losses caused by the Mt. Gox hack and the FTX bankruptcy. The study used a probabilistic model to analyze wallet activity and found that long-term (more than 10 years) unused wallets account for the main share of losses, while short-term inactive wallets have a lower...
