US Election Sparks Volatility in Bitcoin and Ethereum: Key Insights from Derive.xyz’s October Report

November 4, 20240Comments

Bahrain Unveils First Regulated Crypto-Compatible Corporate Bank, Bridging Traditional and Digital Finance

Bahrain Launches First Regulated Crypto-Compatible Corporate Bank, Bridging Traditional and Digital Finance In a groundbreaking move, Singapore Gulf Bank (SGB) has unveiled Bahrain’s first regulated crypto-compatible global corporate banking platform. Backed by Bahrain’s sovereign wealth fund, Mumtalakat, and the influential Whampoa Group from Singapore, SGB is set to revolutionize the financial landscape by seamlessly integrating…

November 1, 20240Comments

iDenfy Partners with O2Factoring to Boost Financial Security for Entrepreneurs

Vilnius, Lithuania – October 2024 In a strategic move to enhance financial security and streamline compliance processes, iDenfy, a leading ID verification and fraud prevention company based in Lithuania, has partnered with O2Factoring, a Dutch financial service provider specializing in factoring solutions. This collaboration aims to integrate advanced identity verification and Anti-Money Laundering (AML) screening…

November 1, 20240Comments

Libeara and FundBridge Capital Team Up to Launch Innovative On-Chain Treasury Fund

Singapore, November 1, 2024 – In a significant move bridging traditional finance and blockchain technology, Libeara, a prominent real-world asset (RWA) tokenisation platform supported by SC Ventures, has announced a strategic partnership with FundBridge Capital. This collaboration aims to introduce the Delta Wellington Ultra Short Treasury On-Chain Fund (“ULTRA Fund”), with Wellington Management Singapore Pte.…

October 29, 20240Comments

iDenfy Launches Advanced eIDV Solution to Strengthen Identity Verification Across High-Risk Industries

Lithuania-based RegTech company, iDenfy, has introduced a new electronic identity verification solution, or eIDV, tailored to simplify and secure the identity verification process for various high-risk industries. This innovative solution is set to redefine how businesses, particularly in the fintech, crypto, and iGaming sectors, approach Know Your Customer (KYC) procedures. The new eIDV process integrates…

IMF Backs Nigeria’s Crypto Adoption Amid SEC Crackdown

The International Monetary Fund (IMF) has thrown its weight behind Nigeria’s adoption of cryptocurrencies, recommending the licensing of global cryptocurrency exchanges. This move aims to address Nigeria's macroeconomic challenges, including currency instability and inflation, while bolstering its position in Africa's burgeoning crypto market. Nigeria has faced significant economic hurdles, with a notable issue being the discrepancies…

May 21, 20240Comments

ByElijah Law

Crypto Industry Rallies Behind H.R. 4763 as House Vote Approaches

In a pivotal moment for the crypto industry, H.R. 4763, known as the Financial Innovation and Technology for the 21st Century Act (FIT 21), is set for a crucial vote in the U.S. House of Representatives next week. This bill aims to create a comprehensive regulatory framework for digital assets, which many believe is essential…

May 18, 20240Comments

Ledgible Announces Readiness Assessment for Digital Asset Companies Preparing for IRS 1099-DA

In a move that feels a bit like spring cleaning for digital paperwork, Ledgible has launched a new Readiness Assessment program. This initiative comes hot on the heels of the Internal Revenue Service's introduction of the draft Form 1099-DA, a new beacon in the foggy waters of digital asset tax reporting. With this program, Ledgible…

May 7, 20240Comments

Mauritania and G+D Partner to Develop National Digital Currency

In a significant move towards embracing digital innovation, Mauritania’s central bank, in collaboration with Giesecke+Devrient (G+D), a renowned SecurityTech company, has initiated the development of a digital version of the national currency, the Ouguiya, according to a recently published press release. Announced during the International Monetary Fund (IMF) and World Bank Group Spring Meetings in…

April 27, 20240Comments

IRS building with digital displays featuring Bitcoin and Ethereum, representing the 1099-DA form for digital asset reporting.

Understanding the IRS’s New 1099-DA Form: What It Means for Cryptocurrency Taxation

The Internal Revenue Service (IRS) has recently unveiled the first draft of the 1099-DA form, tailored specifically for digital asset transactions. This development is a significant step in the integration of digital assets into the regulatory framework of the financial system, reflecting their growing prevalence. As digital assets increasingly intersect with traditional finance, comprehending the…

April 27, 20240Comments