• Goldman Sachs institutional demand bitcoin
    Bitcoin,  Cryptocurrencies,  Regulation

    Goldman Sachs sees ‘huge’ institutional demand for Bitcoin

    Fully 40% of the investment banking giant’s nearly 300 institutional customers already have exposure to crypto, said its head of digital assets, Matt McDermott

    “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.”

  • SEC questions Wyoming custody
    Regulation,  United States

    SEC taking dim view of Wyoming’s claim it can authorize crypto custody

    The Securities and Exchange Commission is seeking comments on Wyoming’s recent No-Action Letter authorizing state-chartered trust companies to custody traditional and digital assets

    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.’”

  • FTX launches tokenized shares
    Cryptocurrencies,  Technology

    FTX pairing tokenized tech shares with cryptocurrencies

    Fractional stocks can make gaining exposure to equities less expensive, as traders don’t need to purchase a whole share

    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.

  • Cryptocurrencies,  Regulation,  Technology

    Italy PM: Digital payments a solution to ‘shadow economy’

    Prime Minister Giuseppe Conte believes that digital payments can decrease tax evasion, and banks call digital assets revolutionary—but Italians are unconvinced

    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: