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In recent regulatory news, Spain’s Central bank has issued a report favoring the development of a central bank-issued digital currency (CBDC), the president of Taiwan’s central bank has advocated caution regarding CBDCs, the Blockchain Research Institute has published a summary of recent roundtable discussions calling for great regulatory clarity, and a Russian court has a warned a publishing company for breaching advertising legislation with an ad pertaining to cryptocurrencies.
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New York Stock Exchange operator Intercontinental Exchange (ICE) has revealed it plans to launch a global digital asset platform in November as a “scalable on-ramp” for investors.
ICE To Build ‘Scalable On-Ramp’
“Bakkt is designed to serve as a scalable on-ramp for institutional, merchant and consumer participation in digital assets by promoting greater efficiency, security and utility,” Kelly Loeffler, CEO of Bakkt explained.
Galaxy Digital, a merchant bank founded by famed bitcoin investor and president of the Fortress Investment Group, Michael Novogratz, has led a $ 52.5 million investment round for cryptocurrency-backed USD lending platform, Blockfi.
Novogratz’ Galaxy Digital Leads $ 52.5 Mn Fundraiser for Crypto-Backed Lending Platform
In the company’s first institutional investment into “cryptoasset backed loans,” Galaxy Digital Venutres LLC, has been announced as the leader in a $ 52.5 million fundraising round for crypto-backed lending platform, Blockfi.
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Bermuda is well known as a global center for financial services as the island operates the largest reinsurance market in the world. Now, Bermuda is aggressively diving into the fintech sector with two clear objectives: to promote the island as the jurisdiction of choice for fintech entrepreneurs and to establish its new regulatory framework as the universal standard for initial coin offerings (ICOs), digital assets and virtual currencies. By doing so, Bermuda’s Premier and Minister of Finance E. David Burt hopes to diversify Bermuda’s economy and encourage new development ― monetary, educational and cultural ― in the island.
The digital content space has a host of problems related to transparency, centralization, and hype, making it difficult for creators to deliver and receive both actual value to users and rightful revenue from platforms that distribute their content. Newly developed blockchain use cases in the industry are emerging to combat these problems.
Digital Content Is a Mess
Yesterday, Congress addressed in two full hearings why it’s time to start taking a closer look at why and how digital assets, including cryptocurrencies, are impacting U.S. marketplaces.
The following condensed information is a run-down of what the House Committee on Agriculture and the U.S. Commodity Futures Trading Commission (CFTC) discussed during the hearings regarding cryptocurrency and distributed ledger technology (DLT).