The United States Financial Accounting Standards Board (FASB)’s decision to allow companies to use “fair value” to account for their crypto holdings could be seen as another step toward the wider institutional adoption of cryptocurrency. During a meeting on Oct. 12, the FASB board made the decision to require entities to measure crypto assets at “fair value.” The board’s decision is, “tentative” at this stage, and could be changed at future board meetings when they continue to weigh their options. The decision, if approved, will allow companies to update their balance sheets regularly with the fair value of crypto assets …

It's a turbulent time to be involved in crypto. Digital assets across the board have been hit hard — with Bitcoin and Ether falling by more than 65% from recent all-time highs. While it's tempting to conclude this is a crypto-specific problem, with the bubble bursting in an asset class known for its volatility, zooming out helps to provide crucial context. The stock market is having a torrid time too — rocked by a lethal cocktail of surging inflation, rising interest rates, and conflict in Ukraine. Back in the summer of 2021, the best strategy for crypto enthusiasts was simple: …

In another round of investments in the crypto space, Singapore-based crypto bank MinePlex has secured $100 million from digital asset investment firm GEM Digital Limited (GEM), aimed at closing the gap between digital assets and traditional banking. According to an Oct. 11 announcement, MinePlex will use the funding to develop new banking technologies, including a collaboration with Mastercard and Visa for transactions accepting Tether (USDT), Bitcoin (BTC), Ether (ETH), and TRON (TRX). Bringing digital assets and traditional banking services together is MinePlex's big bet. The platform offers fiat and crypto assets services within the same application, enabling transactions such as …

A global digital asset company says its revenue hit $250 million in the first half of 2022 — a 25% increase when compared with the same period a year earlier. Amber Group claims state-of-the-art trading infrastructure, effective risk management and a diverse client base has been instrumental to its profitability. Earlier this year, the platform completed a $200 million Series B+ funding round — with Temasek, Sequoia China, Pantera Capital and Coinbase Ventures among the participants. This helped the company achieve a valuation of $3 billion. A crucial driver for growth has been ensuring that it has the licenses it …

The use cases of nonfungible tokens (NFTs) have evolved from pixelated punks and apes to real-world applications like real estate contracts and music royalties. Another use case is surfacing as the Monuverse uses NFTs to preserve cultural heritage around the world. Through a combination of blockchain technology, 3D imaging, generative art and local collaboration, the Monuverse is using NFTs to take important global monuments into digital reality where they will be infinitely preserved. The first NFT project of this caliber from the Monuverse highlights the Arco della Pace, or the Arc of Peace, in Milan Italy. Ready for a groundbreaking …

United States Senator Bill Hagerty, a member of the Senate Banking Committee, introduced legislation seeking a safe harbor for cryptocurrency exchanges from “certain” Securities and Exchange Commission (SEC) enforcement actions. The Digital Trading Clarity Act of 2022, introduced by Sen. Hagerty, aims to provide regulatory clarity around two primary concerns plaguing crypto exchange establishments — (i) the classification of digital assets and (ii) related liabilities under existing securities laws. Sen. Hagerty outlined an overview of the problems amid regulatory hurdles: “The current lack of regulatory clarity for digital assets presents entrepreneurs and businesses with a choice: navigate the significant regulatory …

Commodity Futures Trading Commissioner (CFTC) Caroline Pham has proposed the creation of an “Office of the Retail Advocate” aimed at expanding the CFTC's consumer protection mandate. Pham referred to the office as a “voice for the people” in a speech given at an event hosted by blockchain project Corda on Sept. 27, suggesting recent events in crypto make retail protection a more pressing issue, noting: “The crypto crash, risk management failures, and substantial retail losses, gives urgency to the need to balance innovation with retail protection and appropriate regulation.” Pham has modeled the proposed office on the Security and Exchange …

China accounts for 84% of all blockchain applications filed worldwide, according to the latest data shared by the country’s government official. China has steered clear of the cryptocurrency market. However, the Beijing government has been supportive of the underlying blockchain technology. The country has actively promoted the use of blockchain tech over the years, and thus the high percentage of blockchain patents isn’t surprising. President Xi Jinping has also played a key role in promoting the nascent blockchain technology. In 2019, the President called upon citizens, tech companies and stakeholders of the ecosystem to actively participate and innovate with the …

Nomura, one of the largest investment banks in Japan, has established a venture capital arm aimed at investing in companies focusing on crypto and blockchain. In a Wednesday announcement, Nomura said the business, named Laser Digital, will “provide new value in the area of digital assets” for clients under the Switzerland-based holding company Laser Digital Holdings AG. The investment bank said it chose Switzerland based on its “robust regulatory regime for digital assets and blockchain projects” in addition to potentially recruiting talent. “Staying at the forefront of digital innovation is a key priority for Nomura,” said president and group CEO …

Where are the challenges that face the NFT sector in the future being discussed? Mattereum is hosting a dedicated event to discuss physical asset NFTs on Sept. 21. The meetup begins at 6pm London time — that's 7pm in Berlin, 1pm in New York, and 10am in California. A previous event was held in July 2022, and set out how coveted high-value assets such as red wine, fine art and real estate could benefit from Mattereum's approach to NFTs. With an ever-growing number of blue-chip companies exploring this space, adoption among everyday consumers will continue to skyrocket. Mattereum is determined …

Insurance is key for financially securing important assets. Yet, the cryptocurrency sector — which is predicted to reach a global market size of $4.94 billion by 2030 — may be lagging behind when it comes to insuring digital assets. For instance, it’s been noted that less than 1% of all crypto investments are currently insured. This statistic is alarming, considering the rapid growth and high-risk profile associated with today’s cryptocurrency market. Ben Davis, team lead for digital assets at Superscript — a British startup and Lloyd’s of London-licensed insurance broker — told Cointelegraph that crypto has been marginalized when it …

Australian Liberal Senator Andrew Bragg has released a new draft bill aimed at clamping down on digital asset exchanges, stablecoins, and China’s central bank digital currency, the e-Yuan. In a statement on Sept. 18, Senator Bragg stated that “Australia must keep pace with the global race for regulation on digital assets” as “it is essential that the parliament drives law reform” on the matter. The new draft bill, titled Digital Assets (Market Regulation) Bill 2022, calls for the introduction of licenses for digital asset exchanges, digital asset custody services, stablecoin issuers, as well as disclosure requirements for facilitators of the …