Monthly Report: US regulatory bodies are hot on the heels of digital assets

October has been an eventful period for astir of the apical cryptocurrencies.

Except for Cardano, the apical 10 integer assets by marketplace superior surged with a mates printing caller all-time highs. The crypto country has arsenic been progressive extracurricular the markets, and present are immoderate of the headlines you mightiness person missed:

FDIC considers approving slope engagement with crypto

Over the past fewer months, regulators from the Office of the Comptroller of the Currency (OCC), the Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC) person been exploring ways to let banks to clasp cryptocurrencies connected their slope sheets.

FDIC Chairperson Jelena McWilliams said astatine the Money 20/20 league held successful Las Vegas that her bureau is readying to contented a bid of argumentation statements implicit the coming months. McWilliams stated that the policies would explicate to the nationalist however the existent rules and regulations impact crypto assets, which activities banks tin prosecute in, and the regulatory requirements for banks to beryllium allowed to engage.

The FDIC seat besides reviewed stablecoins, which she acknowledged would play an indispensable relation successful making transactions faster and cheaper. However, she warned that these backed integer assets required diligent authorities oversight truthful that their afloat benefits are enjoyed. She held this constituent of presumption arsenic she felt that if immoderate 1 unchangeable coin is adopted arsenic a large outgo tool, it could interaction recognition instauration and impact fiscal stability. McWilliams' remarks travel a Bloomberg report connected Monday citing anonymous sources who claimed the SEC had been fixed the regulatory reigns implicit stablecoins.

Alameda Research backs Voyager Digital with $75 cardinal investment

Crypto trading steadfast Voyager Digital announced via a press release yesterday that it had received a $75 cardinal concern from Alameda Research. Alameda, presently a increasing marketplace maker, is expected to assistance Voyager widen the scope of its rewards programs via its market-neutral algorithms.

Voyager Digital’s CEO Steve Ehrlich commented connected the concern which helium explained arsenic 1 to connection 'synergistic opportunities’ successful the processing abstraction of cryptocurrencies. Ehrlich went further to item that helium sees these opportunities arsenic tied to NFTs & crypto products, arsenic good arsenic proviso of ‘thought leadership’ arsenic Voyager Digital interacts with the regulators.

Alameda Research was founded successful 2017 and presently manages much than $1 cardinal worthy of integer assets. The quantitative trading steadfast besides says it trades anyplace betwixt $1 cardinal and $10 cardinal worthy of integer assets each day, including derivatives, large cryptocurrencies, and different altcoins.

This week connected Wednesday, Voyager Digital besides announced that it had reached a woody with Mark Cuban's Dallas Mavericks to go the authoritative crypto brokerage spouse for the NBA league team. The Mavs and Voyager volition people newer audiences and usage consciousness to heighten crypto adoption worldwide.

El-Salvador is 420 Bitcoins stronger

The contention astir El Salvador’s determination to instrumentality up cryptocurrency Bitcoin arsenic a ineligible tender has not stopped President Nayib Bukele and his authorities from advancing their crypto cause. Via his Twitter account, the President announced connected Wednesday that the state had bought 420 caller Bitcoins from the marketplace dip.

He added that Bitcoin's emergence successful terms had benefited the Central American country. El Salvador has a Bitcoin spot that uses some BTC and the American Dollar. President Bukele explained that done revaluation of worth betwixt BTC and the dollar, they were capable to retreat a profit, leaving the spot conscionable arsenic it was.

With this latest purchase, El Salvador present has astir 1120 Bitcoins valued astatine astir $66 million. Its archetypal batch of coins (400 BTC) was announced conscionable a time earlier the September 7 authoritative launch, with the authorities saying it planned to proceed purchasing the plus utilizing authorities funding.  The state added a further 150 coins to its portfolio aft Bitcoin dipped from $51,000 to $43,000 connected the time of launch.

FATF updates virtual plus guidelines

Decentralised concern is progressively becoming a constituent of absorption for regulators. On Thursday, the Financial Action Task Force, FAT, announced that it is present subjecting DeFi apps to FATF standards, intending to person them regulated arsenic VASPs contempt not being VASPs by definition.

The update alters the 2019 guidance to a risk-based attack for virtual assets and virtual plus providers. The regulator said that the guidance explores issues that were singled retired from a 12-month review, with a interaction of nationalist consultation done betwixt March and April 2021. The updates person been adapted to see DeFi applications adjacent though they are not considered VASPs.

Further, the FATF explained that DeFi operators oregon creators could easy autumn nether the regulator's purview if they actively supply oregon facilitate a VASP service.  The anti-money laundering watchdog explained that it did not spot NFTs arsenic virtual assets, but if operated successful specified a mode that meets FATF standards, they would beryllium treated arsenic virtual assets. NFTs that basal for different assets already nether the FATF standards would beryllium regulated arsenic the fiscal plus they represent.

CoinList raises $100 cardinal successful the latest round

CoinList, a level that links aboriginal cryptocurrency adopters to protocols, announced connected Tuesday that it had raised $100 cardinal to scope a caller $1.5 cardinal valuation. The circular was led by Agman Partners and Accomplice, with different participants including Fenbushi Capital, Continue Capital, Alphemy Capital, and Metaplanet.

CoinList's past backing circular was successful 2019, led by Polychain, successful which the token merchantability level received $90 million. The backing from this circular further highlights the maturation of the superior token income market. CEO of CoinList Graham Jenkin has acknowledged the advancement explaining that the marketplace has seen galore caller businesses (more truthful successful staking and lending) that are increasing rather accelerated contempt inactive being immature.

Also connected Tuesday, bug bounty level ImmuneFi revealed that it had raised $5.5 cardinal from backstage investors and a radical of organization investors, including Bitscale Capital, Framework Ventures, Electric Capital, and Blueprint Capital. Further, Alchemy announced yesterday that it had closed a Series C backing circular worthy $250 cardinal astatine a $3.5 cardinal valuation, with the circular led by task superior steadfast Andreessen Horowitz, a16z.