The Brazilian government had plan to introduce a state-backed cryptocurrency to enhance the growth of the country’s economy. But, the Brazilian government have confirmed to shut down the cryptocurrency project due to reasons made based on the size of the project as they think that a bidding process should be done at first place before the project was initiated.
A local press has confirmed that Japan’s Financial Services Agency (FSA) has categorized the digital currencies as crypto-assets in the country to prevent confusion. The categorization of digital currencies as crypto-assets will require the country’s official to amend the existing law and regulations for the emerging cryptocurrency industry in Japan.
A press release confirmed that the regulator, Liechtenstein Ministry of Economic Affairs, granted the Liechtenstein Cryptoassets Exchange (LCX) a business license. The license acquired by LCX ranks it as the “fully regulated blockchain ecosystem,” It also intends to apply for Financial Market Authority (FMA) license and receive approval from other regulators as well.
A crypto venture capital firm, Dragonfly Capital Partners declared the launch of $100 million funds to be invested in crypto assets. The secured investments include the funds received from crypto market players such as OKEx, Bitmain, and others. The VC firm believes it as an opportunity to ‘bridge the gap between East and West in the crypto economy.’
The financial regulator of Switzerland, FINMA has recently approved the license to a cryptocurrency asset management company, Crypto Finance AG. The license approval indicates that the country is showing their support towards the growth of cryptocurrency and blockchain industry. The newly-approved license will allow the firm to offer wider collective investments products related to Bitcoin and other digital currencies.
The Coinbase exchange has revealed a new process that would help to list more digital assets. The crypto assets should be compliant with the local law. The application fee would not be levied initially. In the statement, Coinbase has highlighted that the new process announced will enable their platform to “list most assets over time that meet the standards.”
Ikigai Asset Management, a crypto asset hedge fund has recruited three new executives. Christina Martin would be a partner while Daniel Heller and Oliver Zahn would act as advisors. Martin would also form part of the Executive Leadership team. The co-founder and CIO of Ikigai expressed, “We are thrilled to add seasoned industry veterans.”
The crypto asset management company, Altonomy has declared the launch of crypto index fund called Altonomy Taurus Index Fund. The fund allows the users to track the performance of the crypto industry with the possession of a single crypto asset. Recently, Coinbase has also revealed the plan to unveil a crypto index fund to the accredited US investors.
Lumi has released a first real app, Lumi Collect application available for both Android and IOS devices would enable the users to store their collectibles and game assets in a single wallet. The features of the app include My Collection tab where all the collectibles linked with the user’s Ethereum address would be displayed. Users can also collect assets from Blockchain Cuties.
The accounting company is considering cryptocurrencies serious. Software developed by a startup to support cryptocurrency investments called the Crypto-Asset Accounting and Tax (CAAT) was bought by the EY from the Elevated Consciousness. A partner at EY, Michael Meisler claimed, “CAAT will allow us to help clients investing in crypto-assets, both in the fund space and beyond.”