• Hong Kong banning retail crypto
    Asia & Australia,  Cryptocurrencies,  Regulation

    Hong Kong plans to ban retail investors from buying crypto

    Local authorities said the proposed measures will bring Hong Kong’s anti-money laundering and terrorism financing regulations on par with the rest of the world

    Hong Kong authorities have proposed a set of new licensing requirements for crypto exchanges and banned retail investors from buying and selling cryptocurrencies.

  • Gazprom bank gets FINMA license
    Cryptocurrencies,  Regulation

    Banking arm of Russia’s Gazprom approved to offer crypto services in Switzerland

    The state-owned energy firm’s Gazprombank plans to offer institutional-grade crypto asset custody solutions as well as facilitate the exchange of top cryptocurrency Bitcoin

    The bank’s CEO, Roman Abdulin, said that the firm has high hopes for the adoption of crypto assets. Saying Gazprombank is “committed to continuous financial innovation” he added that it strives to “offer our clients advanced banking services. ”

  • DBS Singapore Bank crypto exchange

    Singapore bank accidentally announces forthcoming cryptocurrency exchange

    Top Singapore lender DBS briefly put a webpage up announcing a multicurrency exchange with custody service, deleting the announcement within minutes

    The page—which is not available anymore—read "Digital assets are poised to be the future of tomorrow’s digital economy. [...] With DBS Digital Exchange, a bank-backed digital exchange, companies and investors can now leverage an integrated ecosystem of solutions to tap the vast potential of private markets and digital currencies.”

  • Bitcoin pieces on a stack of Russian rubles
    Bitcoin,  Cryptocurrencies,  Europe

    Russia’s biggest bank opens a cryptocurrency exchange in a country notorious for secrecy

    What could go wrong?

    Russia’s love affair with cryptocurrency is being consummated in Switzerland. Sberbank, the largest bank in Russia, is planning to use Swiss arm Sberbank Switzerland AG to open a formal exchange for trading cryptocurrency. Despite having no cryptocurrency legislation at present, Russia’s regulatory environment is so far extremely favorable. There is a proposed framework in place for how the country might regulate cryptocurrency trading. But it’s got nothing on Switzerland, notorious for its history of banking secrecy. Where Russia merely hasn’t outlawed crypto, Switzerland has formally legalized it. By operating its exchange in Switzerland, Sberbank gets more money privileges to flex for its soon-to-be crypto-customers. “We wish to serve our customers’…