As a reaction to the European Union’s 5th anti-money-laundering (AML) Directive, AMLD5, Spanish regulators tackle national anti-money laundering and terrorist financing laws which also affects the regulation requirements for digital asset companies in Spain. About AMLD5 On 19 June, 2018, the 5th anti-money-laundering Directive (Directive (EU) 2018/843) came to being….
Read MoreTrustology, a digital asset custody solution provider, announced on 22 June, 2020 that it will team up with GCEX, a FCA-regulated OTC broker, to build a secure liquidity network backed by institutional-grade custody for OTC trading of digital assets. Speedy and secure custody services for digital assets Trustology, located in…
Read MoreThe Swiss private bank Maerki Baumann & Co. AG specializes primarily in asset management but has been offering business accounts for blockchain companies and overseeing initial coin offerings (ICOs) and security token offerings (STOs) since April 2019. As stated in a press release issued by the financial institution on 29…
Read MoreBitGo, a US-based digital asset services provider, becomes a custodian for CoinDCX, an India-based cryptocurrency exchange, and liquidity generator. BitGo launched its first multi-signature wallet in 2013. Currently, the custodian supports over 100 coins and ample amounts of on-chain Bitcoin transactions. Basically providing security, compliance, and custodial solutions, BitGo estimates…
Read MoreThe Geneva-based Capital Markets and Technology Association (CMTA) has released a common industry standard for the custody and management of digital assets. The CMTA’s „Digital Assets Custody Standard“ (DACS), announced on April 30, 2020, aims to clarify the differences between the storage of cryptocurrencies and traditional assets and to establish basic…
Read MoreMajor South Korean bank KB Kookmin Bank is expected to launch a cryptocurrency custody service in the near future. According to a report from local news outlet Digital Today on March 27, the bank filed a trademark application for KBDAC, referring to a proposed Digital Asset Custody subsidiary, at the…
Read MoreGlobal Digital Finance (GDF), is an industry membership body that promotes the adoption of best practices for crypto assets and digital finance technologies, through the development of conduct standards. It is conducting a consultation on the following Codes of Conduct for Cryptoassets: Part IX(i) Principles for Custody „Custodial Wallets“. Organizations…
Read MoreAs BitGo announced on February 10, it will now offer custody services from Germany and Switzerland with two new units. The company based in Palo Alto, California, has been successfully offering services in the field of cryptocurrencies and the secure storage of digital assets since 2013. With the founding of…
Read MoreAs 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 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…
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