“We have seen no signs of that abating," said McDermott. "And when we talk about institutional demand, we talk about the whole cross section of the industry sectors... And when I talk about the broad spectrum, I'm referring to hedge funds, to asset managers, to macro funds, to banks, to corporate treasurers, insurance, and pension funds.”
The Wyoming letter asserts that the state-chartered trust companies are allowed to be “qualified custodians” for digital assets. In response, the SEC’s Division of Investment Management published its own staff statement highlighting that the Wyoming letter made clear that it “expressly states that the letter ‘should not be construed to represent the views of the SEC or any other regulatory agency.’”
The crypto derivatives exchange FTX will soon offer tokenized shares of some of the world’s biggest companies—including Tesla, Apple, Amazon and Alphabet. From next week, fractionalized versions of these tech stocks will be paired against Bitcoin and stablecoins, opening the stock market to a new sub-section of investors.
Local finance news outlet Il Sole24Ore reported on Sept. 8 that Conte believes that digital payments would result in the financial system being “faster, more transparent and traceable which in perspective means creating for recovering the shadow economy.” He explained that all this could result in lower taxes for all of Italy:
