Crypto Insights — a digital assets newsletter

Key developments as of August 2024:

Regulatory space

• India to release its crypto policy stance by September after stakeholder consultations

• Basel Committee publishes final disclosure framework for banks cryptoasset exposures and targeted amendments to its cryptoasset standard

• FSB publishes paper on cross-border regulatory and supervisory issues of global stablecoin arrangements in EMDEs

• IMF endorses Central Bank Digital Currencies (CBDCs) for promoting financial inclusion in the Middle East

• World Bank explores interoperability between CBDC and faster payment systems

• EU’s MiCA Regulation set to transform cryptocurrency landscape

• Circle achieves MiCA compliance for USDC and EURC Stablecoins

• WazirX’s post-hack actions spark calls for regulation

• Bank of England releases discussion paper on approach to innovation in money and payments

• PSR and FCA launch joint call for information on big tech and digital wallets

• German Banking Industry reveals the results of commercial bank money token

• Italian government expands authority to surveil crypto markets

• HKMA announces the participants for its stablecoin issuer sandbox

• Hong Kong to prepare Stablecoin legislation before year-end

• Singapore reports a rise in crypto use for terror financing, but notes it remains relatively minor

• Indian city of Raipur has launched real estate records on the blockchain using Airchains

• BIS: heavily indebted nations face the risk of a sudden loss of market confidence

Markets

• EY-Parthenon releases survey on retail investors in digital assets

• UBS and CIBC execute the world’s first intraday FX swap

• First Eurozone Sovereign Digital Bond Issuance for the Republic of Slovenia by BNP Paribas

• Goldman Sachs to launch three tokenization projects by year end

• DBS Group Holdings to custody stablecoin reserves in partnership with Paxos

• Visa showcases tokenized deposits with HSBC and Hang Seng Bank

• AgriDex settles its first agricultural trade on Solana Blockchain

• DeBridge to issue governance token for cross-chain service

• Grayscale launches Artificial Intelligence-focused crypto fund, boosting AI tokens

• Australian securities Exchange approves DigitalX's Bitcoin ETF

• Chainlink Launches Digital Assets Sandbox (DAS) to accelerate innovation

• MicroStrategy and Bitcoin Magazine launch “Bitcoin for Corporations” at The Bitcoin Conference

• CoinDCX crypto exchange acquires BitOasis to expand in the MENA region

Decentralized Finance

• Canton Network launches Global Synchronizer for financial market interoperability

• IOTA launches EVM aimed at DeFi and real-world assets

• Crypto exchange Kraken is exploring nuclear options for energy

• Ethereum-based protocol Alkimiya launches market for hedging bitcoin transaction fees

• StarkWare test project explores the potential of Bitcoin's OP_CAT

• LayerZero links Solana to major blockchains in cross-chain bridge network