As the German Handelsblatt reports, the law has triggered a run on the license among German banks. As Handelsblatt writes, the German Federal Financial Supervisory Authority (BaFin) has already received more than 40 expressions of interest from banks for a German crypto-custody license. As a result of the Fifth EU…
Read MoreThe Federal Financial Supervisory Authority (BaFin) in Germany is currently clarifying how the new German cryptocurrency custody law will apply to companies that have their jurisdiction outside of Germany but still serve the German market. There is still widespread uncertainty, especially among non-German companies, with regard to obtaining the BaFin…
Read MoreFractal, the Berlin-based authentication provider working to transform financial identification, has notified the German Federal Financial Supervisory Authority (BaFin) that its subsidiary Fractal Vault GmbH has qualified as a custodian of crypto assets in 2019. Besides, the company has also announced its intention to apply for a crypto-vault license. In…
Read MoreAccording to a blog post of January 30, 2020, Coinbase Custody has announced the launch of a new entity in Ireland under the name of Coinbase Custody International. Based in Dublin, the new entity will focus on institutional clients like hedge funds and family offices across Europe; provide users with…
Read MoreOn January 1, 2020, a German law will come into force that makes digital asset custodians subject to financial supervision. Companies that want to provide this business then need a license from the German Federal Financial Supervisory Authority (BaFin). Any crypto custodian addresses to German customers, must notify BaFin of…
Read MoreBoston-based State Street Corp. announced December 17, 2020 that it’s partnering with cryptocurrency exchange and custodian Gemini Trust. This is due to the launch of a crypto custody pilot program by State Street. Institutions that store their cryptocurrency with Gemini Custody will have the related reporting and holdings information provided…
Read MoreFrance’s supreme financial supervisory authority has adopted the custody of digital assets by law. With its new crypto regulation, France creates a legal framework for Digital Asset Service Providers (DASP) and Initial Coin Offerings (ICOs) and strengthens the powers of the AMF as the regulatory authority for the crypto industry….
Read MoreThe German crypto market benefits from legal certainty. Market participants speak of an increasing professionalization of the environment and begin to position themselves strategically in Germany. Crypto Storage AG is setting up a unit in Germany. After the German legislator has created clarity about crypto asset storage, the first market…
Read MoreBakkt is officially launching its institutional custody business Ties to its exchange giant parent company, Intercontinental Exchange, might give the unit an advantage over the competition Still, the market for crypto custody is crowded with a number of new and established players Bakkt, the cryptocurrency venture-backed by Intercontinental Exchange, announced…
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