Over the next five years, hedge funds are on track for a greater embrace of crypto assets for their investments, and digital overhauls to manage cutting-edge securities operations, according to a survey released in late May by fund administration services provider Intertrust Group, based in Amsterdam, The Netherlands. The company surveyed 100 senior-level professionals at… Read More >>
Bitcoin-Based Futures Are Risky Business: Regulators
An investor bulletin from the SEC and the CFTC is warning investors to be fully aware of the risks that come with Bitcoin-based futures given the many pitfalls that come with cryptocurrency trading. The “Funds Trading in Bitcoin Futures” bulletin from earlier this month targets “investors considering a fund with exposure to the Bitcoin futures… Read More >>
‘State Street Digital’ to Offer Crypto Asset Services
Nadine Chakar Tapped to Head New Division The financing of digital assets will be a key focus for a new division of custodian State Street Corp. The just-launched State Street Digital is tasked with building upon the firm’s current digital capabilities, and then expanding into cryptocurrencies, central bank digital currency, blockchain, and tokenization, officials say…. Read More >>
Should the SEC Become a Crypto Cop?
The Securities and Exchange Commission (SEC) may be taking on more oversight of the cryptocurrency trading world as there are many troubling regulatory gaps, says SEC Chair Gary Gensler in testimony May 26 before the subcommittee on financial services and general government, which is part of the U.S. House Appropriations Committee. In testimony that covered… Read More >>
NYSDFS Contestants to Explore Regs for Crypto Firms
It’s not the Super Bowl. But Techsprint — the contest the New York State Department of Financial Services (NYSDFS) is holding for registered crypto-currency companies — may become just as important for financial regulators. It’s meant to keep tabs on those virtual currency companies that have registered with the NYSDFS. It’s also meant to formalize… Read More >>
Pershing Offers RIAs New Bridge to Alternatives
Pershing’s API Links to CAIS & iCapital Network Clearing and custody services provider BNY Mellon Pershing has just launched enterprise-wide, application programming interface (API) capabilities to two alternative investment sponsors, CAIS and iCapital Network, underscoring Pershing’s efforts to help registered investment advisors (RIAs) connect to the alternative investments space, officials say. CAIS and startup iCapital… Read More >>
South Korea May Ban Bitcoin Trading as CFTC Gives Wary Approval
While U.S. and European regulators are mulling over what to do with bitcoin, the South Korean government, which is home to the world’s third largest cryptocurrency market, is planning to crack down on crypto currency trading. At a press conference, Park Sang-ki, justice minister for South Korea, said, “There are great concerns regarding virtual currencies… Read More >>
