ZURICH—Switzerland’s financial markets supervisor said on Wednesday it had approved the country’s first fund that invests primarily in crypto assets. The Crypto Market Index Fund is restricted to qualified investors and categorised under “other funds for alternative investments” with particular risks, the Swiss Financial Market Supervisory Authority (FINMA) said in a statement. Crypto assets are…
Crypto-Linked Stocks Plunge in Hong Kong, Bitcoin Steadies
September 27, 2021
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HONG KONG/SINGAPORE—Cryptocurrency-linked stocks dropped in Hong Kong on Monday morning, after Chinese authorities intensified their crackdown on the industry, while major cryptocurrencies steadied. Shares of crypto asset manager and trading firm Huobi Tech, an affiliate of Huobi Global, one of the world’s largest exchanges, fell more than 30 percent after the opening bell. Huobi Global…
Regulation Is Coming to the Crypto Business
By Daniel Priestley For the last decade, crypto businesses have operated largely outside of the reach of global regulators. Entrepreneurs have created vast fortunes offering financial products that are not constrained by financial regulations. All of that is about to change. Last week the SEC announced plans to sue the USA’s largest crypto exchange Coinbase…
Over 60 South Korean Crypto Exchanges Set to Suspend Services Next Week
SEOUL—More than 60 cryptocurrency exchanges in South Korea must notify customers of a partial or full suspension of trading by Friday midnight, a week before a new regulation comes into effect. To continue operating, exchanges must register with the Financial Intelligence Unit by Sept. 24, providing a security certificate from the internet security agency. They…
SEC Threatens to Sue Coinbase Over Crypto Lending Programme
HONG KONG—The U.S. Securities and Exchange Commission (SEC) has threatened to sue Coinbase Global Inc if the crypto exchange goes ahead with plans to launch a programme allowing users to earn interest by lending crypto assets, Coinbase said on Wednesday. The SEC has issued Coinbase with a Wells notice, an official way it tells a…
Over Half of Crypto Tokens Stolen in $610 Million Hack Now Returned, Poly Network Says
LONDON—Hackers behind one of the biggest ever digital coin heists have now returned over half of the $610 million-plus they stole, the cryptocurrency platform targeted by the hack said on Thursday. Poly Network, a platform that facilitates peer-to-peer transactions, said on Twitter that, as of 0818 GMT, hackers had returned $342 million of the currencies…
NTD Business Full Broadcast (Aug. 11)
Senate Democrats pass a $3.5 trillion budget blueprint, advancing President Biden’s vision for reshaping federal priorities. Southwest Airlines, feeling the squeeze of the Delta variant. New data shows fewer passengers are booking flights, and its third quarter may not turn a profit. And hackers steal $600 million worth of cryptocurrency from a crypto platform, but later return half of it….
NTD Business Full Broadcast (Aug. 9)
Senate Democrats release their multi-trillion dollar plan – the second of the two major packages on president Biden’s agenda. What’s in it and how do they plan to pay for it? German drug company BioNTech’s profits surged in the last quarter, benefitting from the vaccine it developed with Pfizer. And a federal judge sides with Norwegian Cruise…
China Challenges on Cryptocurrency
Commentary The world of cryptocurrencies such as Bitcoin and Ethereum is exotic and esoteric. It is also Beijing’s next challenge to the free world. Until now, to an extent, most policy debate in the free world has tended to dismiss the crypto phenomenon as esoteric, illicit, or reckless. This is superficial and misleading. The free…
As Scrutiny Mounts, Crypto Exchange Binance to Wind Down Derivatives in Europe
LONDON—Major cryptocurrency exchange Binance said on Friday it would wind down its futures and derivatives business across Europe, the latest move by the platform to dial back its product range as pressure grows from regulators across the world. Binance users in Germany, Italy, and the Netherlands will be unable to open new futures or derivatives…
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