Bank of Russia to assess Bitcoin holdings volumes as $36M leave banks

The Bank of Russia remains skeptical on crypto despite the Russian president viewing it as a potential unit of account. The central bank of Russia is trying to evaluate the amount of Bitcoin (BTC) held by local investors amid a massive amount of money not returning to banks following the pandemic-fueled withdrawals.According to Elizaveta Danilova, head of the central bank's financial stability department, the Bank of Russia is polling local cryptocurrency investors to estimate cryptocurrency investment volumes in Russia.“We need to work both on data and raising public awareness about the risks of such investments, which are backed by nothing,” Danilova said in a Reuters interview published on the Bank of Russia’s official website on Oct.

Russia aims to limit crypto purchases by non-accredited investors

The Bank of Russia also wants to slow down transactions to crypto exchanges to prevent “emotional” crypto purchases. Anatoly Aksakov, chairman of the Russian State Duma Committee on Financial Markets, argued that Russia needs to adopt new laws to protect retail investors from the potential losses of investing in crypto, local news agency Interfax reported on Wednesday. To this end, lawmakers in the country’s parliament are reportedly considering new legislation to limit cryptocurrency investments by non-accredited investors, he stated.The official delivered his remarks during a Bank of Russia-backed event devoted to financial consumer protection.“Digital currencies are subject to our enhanced focus, and we will look to provide maximum protection for our citizens who invest in digital assets because it is a new instrument, and it is quite difficult for an unskilled investor,” Aksakov said.Cryptocurrency investment is associated with a lot of risk as well as promising returns, with global investors pouring billions of dollars into crypto, Aksakov said.

Swiss Market Watchdog Approves First Regulated Crypto Fund for Investors

The Swiss Financial Market Supervisory Authority (FINMA) has approved a launch of the first regulated cryptocurrency investment fund restricted only for qualified investors.

Switzerland’s FINMA Approves its First Cryptocurrency Investment Fund

The first fund investing primarily in cryptocurrency has been approved in Switzerland by the country's financial regulator.

Bitcoin miner Genesis Digital Assets raises $431M

Genesis Digital previously raised $125 million in an equity funding round led by Kingsway Capital in July 2021. Major Bitcoin (BTC) mining company Genesis Digital Assets has secured $431 million in funding to expand its industrial-scale mining operations in the United States and Nordics.The new funding round was led by Paradigm, one of the biggest cryptocurrency investment companies backing major industry players like Coinbase and FTX.

Survey Shows 25% Of US Teens Prefer Cryptocurrency Investment

A new survey shows that teens still receive more persuasion from investing in the stock market, yet, the cryptocurrency sector has become more popular than other alternatives such as real estate.

Kardashian's Instagram Cryptocurrency Promotion Irks UK Financial Watchdogs

British financial watchdogs are wary of investors' cryptocurrency investment risks introduced by well-known influencers such as Kim Kardashian West.

14 Suspects in Cryptocurrency Investment Scam Arrested in Taiwan

Fourteen suspects allegedly behind a cryptocurrency scam have been arrested in Taiwan.

China to ‘maintain a high-pressure situation’ on crypto, official says

An official at the People’s Bank of China said that the public should increase its risk awareness and stay away from crypto investments. China has reportedly doubled down on its crypto crackdown with a public reminder stating that Bitcoin (BTC) and other digital currencies “are not legal tender and have no actual value.”In a local media briefing, Yin Youping, the deputy director of the Financial Consumer Rights Protection Bureau of the People’s Bank of China (PBoC), said the central bank will maintain a “high-pressure situation” and continue to crack down on digital currency-related transactions.

Hong Kong Police Crackdowns Crypto Investment Scam, involving $11M HKD

Hong Kong police announced Friday the authority has dismantled a cryptocurrency investment scam involving as much as 60 million Hong Kong dollars.

American investors inclined to buy crypto with credit card, new study reveals

Out of the 1,000 respondents, 21% plan to take on consumer debt for buying cryptocurrency while more than 20% have decided to use either their bank savings or refinancing homes.

Australian regulator issues warning about unlicensed crypto businesses

Based on the reports from Aussie investors, ASIC said that citizens have suffered significant losses due to “excessive leverage, platform outages, or unfair liquidations.” As crypto breaches mainstream finance, authorities have started issuing warnings to citizens against unregistered crypto businesses. Joining this list today is the Australian Securities and Investments Commission (ASIC) as it warned Aussie investors to be wary of unlicensed entities that offer financial products.In a statement released by the ASIC, the regulator advised Australian citizens to make crypto-asset related investments via financial institutions that hold an Australian Financial Services license or an Anti-Money Laundering mechanism.

Contrarian Investment Firm Says Cryptocurrency Investment Can Combat Currency Debasement

A $7 billion firm recently advised that land and cryptocurrency are two assets that can combat currency debasement.

JPMorgan Quietly Offers 6 Crypto Investments Despite CEO Jamie Dimon’s Anti-Bitcoin Stance

Global investment bank JPMorgan is now offering six cryptocurrency investment funds to clients despite its CEO, Jamie Dimon, continually advising against investing in bitcoin and other cryptocurrencies.

Wells Fargo Now Offers Cryptocurrency Investment To Clients

Wells Fargo had announced earlier in the year that they planned to offer cryptocurrency investments to clients.

Rothschild’s trust led funding round for Aspen Digital's London expansion

Aspen Digital aims for the Europe, Asia and Middle Eastern markets, leading the initiative by establishing headquarters in London and Singapore.

Coinbase Ventures backs Ethereum-based streaming network

Livepeer's $20 million Series B funding round saw participation from large VCs, including Coinbase Ventures, Coinfund, Northzone, 6th Man Ventures and Animal Ventures. This year has been foundational for the success of projects running on the Ethereum blockchain.

Large VCs are sidelining smaller crypto investors, PwC crypto lead says

Inflated valuations for crypto businesses have raised the bar for small investors to participate in the ongoing innovation. As cryptocurrency continues to take over mainstream finance, formerly cautious investors across the globe are rethinking their stance of counting crypto as a bad investment.

Kazakhstan to Embrace Cryptocurrency with Exchanges

Opening bank accounts for cryptocurrency investment will soon be possible in Kazakhstan.

Many JPMorgan clients see Bitcoin as asset class, says senior exec

“The volatility you see in it today just has to play itself out,” JPMorgan's director of asset and wealth management said. Despite Bitcoin (BTC) not yet emerging as an “asset class per se,” JPMorgan considers it important to meet the demand for cryptocurrency investment, according to a senior wealth management executive.A large number of JPMorgan clients see digital currencies like Bitcoin as an asset class, the company’s director of asset and wealth management Mary Callahan Erdoes said.In a Bloomberg interview released Tuesday, Erdoes stressed that the bank will continue providing crypto services to meet the growing demand, stating:“A lot of our clients say that’s an asset class, and I want to invest, and our job is to help them put their money where they want to invest.”Erdoes said that the debate about whether cryptocurrencies constitute an asset class is still ongoing as many experts are concerned about the market’s extreme volatility.“It’s a very personal thing.

Africrypt turns sour on investors: Founders flee as court cases build up

Africrypt founders are still on the run as investors turn to legal action to try to recoup funds lost in South Africa’s latest cryptocurrency theft scandal. Two South African brothers are facing mounting pressure to come forward to authorities as investigators delve into one of the biggest cryptocurrency thefts in the country.Raees and Ameer Cajee are central figures in the now infamous Africrypt cryptocurrency investment scheme saga.

Grayscale Adds Cardano to Its Cryptocurrency Investment Fund

The fifth-most valuable crypto by market cap will make up 4.26% of the Digital Large Cap Fund.

Russia’s central bank to study crypto investment risks

The Bank of Russia is collecting data from 15 credit firms and payment systems like Visa and Mastercard. Russia’s central bank has scheduled a risk assessment for cryptocurrencies like Bitcoin (BTC), according to the Bank of Russia’s screening program for the second half of 2021.The examination of the potential risks of cryptocurrency investing will consider “systemic risks linked to cryptocurrency investment by Russian individuals and entities.” As part of the investigation, the Bank of Russia will collect data from 15 credit organizations including major banks like Sberbank, VTB and Tinkoff Bank, payment systems like Visa and Mastercard, and electronic payment providers like Western Union, Qiwi and WebMoney.The Bank of Russia is also looking to release a study on equity investment by non-resident investors by October or November 2021.The Bank of Russia’s assessment of crypto-related risks comes amid growing criticism from local lawmakers and businesspeople regarding the institution's tough stance on the crypto industry.Related: CEOs of top Russian banks Sberbank and VTB blast BitcoinIn mid-June, Russian State Duma member Fedot Tumusov said that the Bank of Russia was short-sighted on crypto while industrial tycoon Oleg Deripaska blasted the central bank for pressuring local industry to avoid cryptocurrencies.Earlier this week, the Bank of Russia established the first pilot group for testing the country’s central bank digital currency, the digital ruble.

South African Brothers Escape With $3.6 Billion In Bitcoin

Two African brothers have disappeared, and so does the $3.6 billion in bitcoin from their cryptocurrency investment platform.

Alternative 401(k) Product Offers In-Plan Cryptocurrency Investment via Coinbase Institutional

On Monday, the San Francisco-based retirement plan provider for small to medium-sized businesses, Forusall, announced the launch of an alternative 401(k) plan that offers in-plan cryptocurrency access.

Wells Fargo Gets Into Crypto With Upcoming ‘Professionally Managed’ Cryptocurrency Investment

Wells Fargo will soon offer “a professionally managed solution” for cryptocurrency to clients.

Bitrue floats $50M cryptocurrency investment fund

The crypto exchange platform plans to support blockchain startups working on paradigm-shifting use cases for the emerging technology. Bitrue crypto exchange has announced a $50-million investment fund geared toward supporting cryptocurrency and blockchain startups.According to a recent announcement, the investment fund will target crypto projects working on use cases with the potential to advance the development of the emerging blockchain ecosystem.Of the $50-million sum, 70% will be in the form of Tether (USDT), while the exchange also plans to fund the remaining 30% via its native token, Bitrue Coin (BTR).

Nigerian Regulator Issues ‘Extreme Caution’ Crypto Investments Warning

Nigeria’s Economic and Financial Crimes Commission (EFCC) has become the latest body to warn of risks associated with cryptocurrency investments.

South African Crypto Platform Revix Raises $4.1 Million

The South African cryptocurrency investment platform, Revix, has reportedly raised about $4.1 million from its latest capital raise round.

Court Summons Mirror Trading International Executives Over BTC Global Scam Allegations

Two executives of Mirror Trading International (MTI) have been summoned by a high court in connection with another cryptocurrency investment scam called BTC Global.

Goldman Sachs to Launch Its Bitcoin Offering for Wealth Managers In Q2 2021

Giant American investment bank Goldman Sachs plans to offer cryptocurrency investment infrastructure to its wealth management clients in the second quarter of 2021.

Governments Are Considering Welcoming Bitcoin Investments, NYDIG CEO Reveals

In an interview with Real vision media firm, Robert Gutmann, the CEO of cryptocurrency investment firm NYDIG, has revealed that unnamed state-owned investment funds have been approaching the crypto investment firm with inquiries about making Bitcoin purchases.

India's government orders companies to disclose crypto holdings

Recent amendments to India’s Companies Act will see firms in the country include their crypto involvement in all public financial reporting. While the legal status of cryptocurrencies remains undecided in India, companies in the country involved in virtual assets must now report their activities as part of their financial statements. The new rule follows amendments made by the country’s Ministry of Corporate Affairs to Schedule III of the 2013 Companies Act. According to the document published on Wednesday, Indian firms both public and private that have invested or traded in crypto during the financial year must disclose their profits or losses. Other crypto-related disclosures include the amount of cryptocurrency held by the company as of the reporting date as well as additional advance deposits made by customers for the purpose of cryptocurrency investment or trading. The amendments to the Companies Act of 2013 will come into effect at the start of April.

Texas Issues Orders to Stop ‘Binance Assets’ and 2 Other Fraudulent Crypto Investment Platforms

The Texas securities commissioner has entered emergency cease and desist orders to stop three cryptocurrency investment platforms from duping investors in the state.

Grayscale Launches 5 New Crypto Investment Products as Investor Demand for Cryptocurrencies Soars

Grayscale Investments has launched five new cryptocurrency investment products, which are now available for subscription by eligible individual and institutional accredited investors.

Price analysis 3/17: BTC, ETH, BNB, ADA, DOT, XRP, UNI, LTC, LINK, BCH

Select altcoins could move toward new highs if Bitcoin price continues to trade in a tightening range. Institutional investors have continued to pump money into cryptocurrency investment products in Q1 of this year, according to a report by CoinShares.

Texas securities board takes action against hoax ‘Binance’-branded scheme

The Texas State Securities Board has entered an emergency cease and desist order against a shape-shifting, fraudulent cryptocurrency scheme using the Binance brand to lure investors. Texan regulators have, for some time now, viewed cryptocurrency investment schemes as a risk to Main Street investors, and have continued to issue public warnings against possible crypto-related scams during the COVID-19 pandemic.  The latest move from the Texas State Securities Board, or TSSB, is action not words — an emergency cease and desist order against an entity misappropriating the Binance name.  According to an announcement on March 15, the target of the order is a business claiming to operate from the United Kingdom, which has previously been subject to an advisory warning from securities regulators in the Philippines.

Vietnam’s finance ministry warns about crypto trading risks

Vietnam’s Ministry of Finance reminded the public that cryptocurrencies have no legal framework in the country. Vietnamese financial authorities have warned the public about the risks of cryptocurrency investment as the industry is not regulated in Vietnam, local news agency Thanh Niên reports Wednesday. The Ministry of Finance of Vietnam stated, “Vietnam has not adopted any legislation related to the issuance, trading, and exchange of virtual currencies and virtual assets.” The ministry stated that virtual currencies are not part of Vietnamese securities laws, and there are only two exchanges — Ho Chi Minh Stock Exchange and Hanoi Stock Exchange — that are allowed to trade securities in Vietnam. To address this gap, the ministry has established a dedicated research group to investigate the crypto industry and develop crypto regulation policies in the country.

Gemini launches ETF and fund manager-focused custody, clearing, and trade service

The new service will tailor to companies offering retail investors exposure to cryptoassets through traditional investment channels Being your own bank isn’t for everyone — and that includes companies and fund managers looking to issue cryptocurrency investment vehicles. Cryptocurrency exchange and custodial services provider Gemini announced today the launch of a new service tailored specifically towards funds and ETFs: Gemini Fund Solutions.

With rebrand on the horizon, Sushiswap receives “Sushi.com” domain name gift

The team "can't believe" they've claimed the hot digital property, and say that the gift came at an opportune time A major decentralized finance (DeFi) protocol’s SEO metrics just spiked through the roof.  In a tweet today cryptocurrency investment fund Future Fund announced that they’d acquired the “sushi.com” domain name on behalf of DeFi platform Sushiswap. Happy to announce we’ve acquired https://t.co/Hjsm7MOIYY for @sushiswapA strong domain will greatly increase internet traffic and exposure to the sushi brand for their forthcoming new projects.2021 will be a big year for $SUSHI pic.twitter.com/NWWkgTldWq— Future Fund (@FUTURE_FUND_) February 19, 2021 Sushiswap’s online presence is notoriously scattered, including domains like “sushiswap.fi” and “sushiswapclassic.org.” In the announcement, Future Fund noted that the simplicity is an improvement, saying, “A strong domain will greatly increase internet traffic and exposure to the sushi brand.” While the terms of the purchase were not revealed, the domain is a hot property that has previously been listed for between $600,000 and $1.5 million, according to various domain sales sites. When ask about the purchase, Sushiswap CTO Joseph Delong’s initial reactions was simple: “Pretty based imo.” According to Delong and core contributor 0xMaki, the timing of the buy couldn’t have been better.

Industry Group Says Hong Kong’s Proposed Crypto Rules Could Drive Traders Underground

Hong Kong’s plan to restrict cryptocurrency investment to professionals means retail investors could move to unlicensed venues, said Global Digital Finance.

Crypto Hedge Funds Defraud $100 Million From Investors, Founder Faces 20 Years in Prison

The founder of two cryptocurrency hedge funds has been charged in US federal court for securities fraud.

Study: 60% of Digital Asset Holders Store Funds on Exchanges While Half Derive an Income From Crypto

Despite the risks that come with storing crypto assets with third parties, the findings of a new study suggest many cryptocurrency holders still trust exchanges with the safekeeping of their funds.

Mike Novogratz’s Galaxy Digital to Launch Ethereum Funds

The cryptocurrency investment firm Galaxy Digital is planning new funds for Ethereum’s native coin, Ether.

Grayscale Raises $700M+ in a Day, Its Largest Daily Asset Raise Ever

In Q4 2020, the company raised $3.3 billion across its cryptocurrency investment vehicles.

Galaxy enters Bitcoin mining, launches financial services unit for miners

Mike Novogratz's Galaxy Digital is launching its own Bitcoin mining operations and creating a new business unit dedicated to providing financial services to miners. Galaxy Digital — the financial services and cryptocurrency investment management firm founded by Mike Novogratz — has set its sights on establishing a footing in the Bitcoin (BTC) mining sector. After a year of increasingly diversifying its products and activities, the company has announced two new forays into the Bitcoin mining sector for 2021.

FCA issues warning against cryptocurrency investment and use

The Financial watchdog of the United Kingdom, the Financial Conduct Authority [FCA] on Monday, released a warning for consumers about the investment risk in cryptocurrency. According to the stateme The post FCA issues warning against cryptocurrency investment and use appeared first on AMBCrypto.

FCA warns of crypto investment risks as Bitcoin dives below $33K

The Financial Conduct Authority has warned the public about crypto investment as Bitcoin dove below $33,000. The United Kingdom's financial regulator, the Financial Conduct Authority, has posted a warning about cryptocurrency investment amid a major crash on crypto markets. In a Jan.

Crypto Investment Firm Pantera Capital Backs Rising DeFi Platform 1inch

Blockchain and cryptocurrency investment firm Pantera Capital says it’s backing the decentralized exchange aggregator 1inch.

What happens to your Bitcoin when you die?

Pass on your crypto to the next generation. As cryptocurrency investment becomes more and more popular, long-term investors are increasingly concerned with the uncomfortable question: what happens to your Bitcoin (BTC) when you die?  According to a 2020 study by the Cremation Institute, nearly 90% of crypto owners are worried about what happens to their crypto after they pass away.

Renowned Finance Youtuber Andrei Jikh Invests Over $100K Into Cryptocurrencies

The popular Youtuber Andrei Jikh published a video this week to his 978,000 Youtube subscribers explaining that he invested over $100,000 into crypto assets.