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  • BIS Innovation Hub Launches Project Agorá To Revamp Cross-Border Payments
    According to Odaily, the Innovation Hub of the Bank for International Settlements (BIS) has launched Project Agorá. This initiative is a collaboration with seven central banks and aims to transform cross-border payments through tokenization technology. The project utilizes wholesale central bank digital currency (wCBDC) and tokenized deposits to execute payments on a unified ledger, simplifying the compliance process. Tokenization enables atomic settlement, meaning payments are reflected simultaneously in all banks' balances. This technology also simplifies Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. In addition to Project Agorá, BIS is experimenting with shared protocols in Project Mandala, offering 'proof of compliance' and suggesting the use of Artificial Intelligence (AI) to establish AML monitoring models. BIS emphasizes that the next generation of correspondent banking should be inclusive, accessible, and capable of capturing network effects. This project is a significant step towards achieving these goals, and it is expected to bring about considerable changes in the banking sector.
    Bullish
    Bearish
  • Grayscale Submits Revised S-3 Registration Statement Discussing Ethereum Regulation
    According to Odaily, a day after BlackRock submitted its revised S-1 declaration, Grayscale submitted its revised S-3 registration statement. It is expected that more revised registration statements will follow. In its latest document, Grayscale discussed the regulatory handling of Ethereum. The updated document added a new key point about how much Ethereum is needed to create a basket of stocks. The latest document stated, 'As of May 28, 2024, the amount of Ethereum needed to create 100 shares of the basket is approximately 0.94552590, and after the revised trust agreement takes effect, the amount of Ethereum needed to create 10,000 shares of the basket is 94.552590.'
    Bullish
    Bearish
  • Grayscale Files Amended S-3 Registration Statement for Its Spot Ethereum ETF
    Grayscale filed an amended S-3 registration statement on Thursday, a day after BlackRock filed an amended S-1 statement, with more amended registration statements expected to follow. Grayscale discussed its regulatory treatment of Ethereum in its latest filing. A new key point about how much Ethereum is needed to create a basket of shares was added to the updated filing. The latest filing reads: "As of May 28, 2024, the number of Ethereum required to create a basket of 100 shares is approximately 0.94552590 Ethereum, and after the revised trust agreement becomes effective, the number of Ethereum required to create a basket of 10,000 shares is 94.552590 Ethereum." (Theblock)
    Bullish
    Bearish
  • New York Financial Services Department Issues New Guidelines for Virtual Currency Entities
    According to Odaily, the New York Department of Financial Services (NYDFS) has released new guidelines aimed at strengthening customer service standards for Virtual Currency Entities (VCE). These guidelines, which were announced on May 30, will come into effect from November 1. The NYDFS stated that these comprehensive guidelines are designed to ensure that VCEs have robust customer service mechanisms in place to handle customer issues promptly and effectively. VCEs are expected to keep their customer service policies updated and comply with all relevant laws and regulations. The guidelines also require VCEs to appoint personnel responsible for managing customer service and complaint procedures. This announcement is part of the VOLT plan by Commissioner Harris, which significantly expands the DFS's ability to regulate the virtual currency industry.
    Bullish
    Bearish
  • Aptos Integrates Chainlink’s CCIP and Data Feeds to Boost Dapp Development
    Layer 1 blockchain Aptos announced at the Consensus 2024 panel that it will integrate Chainlink's cross-chain interoperability protocol CCIP and data sources to promote the development of decentralized applications in the Aptos ecosystem. This collaboration will make Aptos the first Move-based blockchain to integrate Chainlink services. Bashar Lazaar, head of ecosystem at the Aptos Foundation, said: "Joining the Chainlink SCALE program will enable developers on Aptos to use Chainlink services, expand the resource toolkit available on Aptos, and help them build secure, scalable and fully functional dApps." (Coindesk)
    Bullish
    Bearish
  • BIS launches Project Agorá
    The Bank for International Settlements (BIS) Innovation Center launched Project Agorá, uniting seven central banks to transform cross-border payments through tokenization technology. The project uses wholesale central bank digital currency (wCBDC) and tokenized deposits to execute payments on a unified ledger and simplify compliance processes. Tokenization enables atomic settlement, that is, payments are reflected in the balances of all banks at the same time, and simplifies Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. BIS is also experimenting with shared protocols in Project Mandala to provide "proof of compliance" and recommends the use of artificial intelligence (AI) to build an AML monitoring model. BIS emphasizes that the next generation of agency banking should be inclusive, accessible, and able to capture network effects.
    Bullish
    Bearish
  • NYDFS Creates New Guidance for Crypto Firms to Improve Customer Service Standards
    The New York State Department of Financial Services (NYDFS) issued new guidelines on May 30 to strengthen customer service standards for virtual currency entities (VCEs). The guidelines will take effect on November 1. The New York State Department of Financial Services said that these comprehensive guidelines are intended to ensure that VCEs have a strong customer service mechanism that can handle customer issues in a timely and effective manner. VCEs should keep their customer service policies updated and comply with all relevant laws and regulations. The DFS guidelines also require VCEs to designate individuals responsible for managing customer service and complaint procedures. The announcement is part of Superintendent Harris' VOLT program, which significantly expands DFS's ability to regulate the virtual currency industry. (cryptoslate)
    Bullish
    Bearish
  • Meet Mike Novogratz, the Political Commentator
    In an interview at Consensus 2024, the Galaxy Digital CEO was asked about a plethora of regulatory and legislative issues affecting crypto. source: https://www.coindesk.com/policy/2024/05/31/meet-mike-novogratz-the-political-commentator/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
    Bullish
    Bearish
  • Backpack wallet now supports modifying transaction slippage
    Backpack posted on the X platform that the Backpack wallet now supports modifying transaction slippage for a single transaction.
    Bullish
    Bearish
  • Sei Foundation: Airdrop Checker has been updated and users will see accurate results
    The Sei Foundation announced on the X platform that the airdrop checker has now been updated and users will see accurate results. The airdrop criteria remain the same, but the number of eligible wallets has increased. The data has been updated in the original blog post. Previously, the Phase 2 airdrop will distribute 27,421,200 SEI to 43,052 unique addresses to reward active users since the launch of the Sei mainnet, including stakers, liquidity stakers, and NFT collectors.
    Bullish
    Bearish

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