Singapore asks crypto firms to deposit customer assets in a trust, restricts lending, staking services to retail users

Cryptocurrency service providers in Singapore will have to keep customer assets under a statutory trust before the end of the year, for safekeeping purposes, the city state’s central bank announced Monday.

• 2023-07-03
• Singapore service providers retail customers customer assets statutory trust legislative amendments regulatory measures

Crypto Exchange Backed by Citadel Securities, Fidelity, Schwab Starts Operations

The exchange backed by Citadel Securities, Fidelity Investments and Charles Schwab seeks business from those interested in digital assets but wary of troubles at FTX and Binance.

• 2023-06-20
• Citadel Securities EDX Charles Schwab Fidelity Investments digital assets customer assets

Crypto Payments Firm Wyre Winding Down Due to ‘Market Conditions’

The crypto payments firm is ceasing operations less than a year after it was valued at $1.5 billion in an abortive acquisition by Bolt.

• 2023-06-19
• Wyre customer assets

Crypto investors step up risk management after last year's meltdowns

Cryptocurrency investors have grown more cautious about who they do business with, after being burned last year by sudden collapses of Celsius Network, Voyager Digital, FTX and others, and fearing a regulatory crackdown will put more pressure on remaining firms. The recent crypto platform bankruptcies trapped customer assets now worth around $34 billion, according to Xclaim, which allows creditors to trade such claims. To protect themselves, institutional crypto investors are switching to exch

• 2023-06-16
• Voyager Digital Samed Bouaynaya customer assets exchange risk management Celsius Network exchanges

SEC weighs new rule for safekeeping customers' crypto assets in wake of FTX debacle

The SEC on Wednesday announced a new proposal requiring all crypto assets held for U.S. customers be housing with a "qualified custodian" in the wake of the FTX debacle, among other crypto failure in 2022.

• 2023-02-15
• Gary Gensler investment advisers customer assets crypto assets SEC crypto trading FTX