A crypto lobbying organization has sued the state of Illinois over a last-minute tax provision inserted into the state budget last month. The Digital Chamber alleged that Illinois’ Digital Asset Tax Act violated both the U.S. and state constitutions and is preempted by a federal tax law. The lawsuit, filed Tuesday, asks a federal judge […]
“The real prize is the yen side of onchain settlement, one of the most strategic positions in Asian finance over the coming decade, and that is exactly what SBI is building toward,” he added. One technical limitation remains. JPYSC does not yet support withdrawals to external wallets. “Regarding JPYSC, its use is currently limited to […]
T. Rowe Price has brought what it said is the industry’s first actively managed multi-token spot crypto exchange-traded fund (ETF) to the market. The T. Rowe Price Active Crypto ETF (TKNZ) began trading on Thursday, giving investors exposure to a portfolio of crypto assets rather than a single token. The launch marks a milestone for […]
Invesco’s move is another sign of asset managers increasingly chasing a new business opportunity created by stablecoins. These cryptocurrencies are designed to maintain a fixed value, typically tied to one U.S. dollar, and are backed by reserve assets such as cash and short-term Treasuries. As issuance grows, so does demand for firms that can manage […]
Keyrock, a Brussels-based digital asset services firm, is in the process of acquiring bankrupt crypto trading and lending firm Blockfills, according to two people with knowledge of the matter. A Keyrock spokesperson told CoinDesk that the acquisition is subject to court approval. According to a bankruptcy filing, Keyrock agreed to a purchase price of $3.25 […]
MIAMI — Eric Trump, the son of President Donald Trump and the co-founder of American Bitcoin (ABTC), said that bitcoin BTC$81,300.63 has reached a sharp influx of traditional financial giants, name-cheacking Bank of America Corp.’s Merrill division, Charles Schwab Corp. and JPMorgan Chase & Co. “JPMorgan, who was crapping all over bitcoin 18 months ago, […]
Pharos Network, a layer 1 blockchain focused on tokenized real-world assets, said it raised $44 million in a Series A round led by a mix of traditional finance and crypto investors. Backers include Sumitomo Corporation’s venture arm, SNZ Holding, Chainlink and Flow Traders, along with unnamed financial institutions the firm described as “giants in global […]
Ledn, a crypto lending company, has completed the first asset-backed securities (ABS) deal backed by bitcoin collateral, raising $188 million for crypto credit markets. Asset-backed securities are bonds backed by pools of underlying loans, with investors receiving payments from the cash flows generated by those loans. Bloomberg reported that the bonds are secured by a […]
Hong Kong plans to complete proposals to regulate virtual asset dealers and custodians and introduce the rules to the city’s Legislative Council in 2026, the Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC) said Wednesday. The proposals, developed after a two-month public consultation that drew more than 190 responses, […]
The heat is rising on digital asset treasuries in the Far East. Japan Exchange Group (JPX), which operates the Tokyo Stock Exchange, is considering measures to curb the growth of listed companies that hoard digital tokens as treasury assets, according to Bloomberg. The bourse is exploring actions such as stricter enforcement of backdoor listing rules […]
The world of Digital Asset Treasury (DATs) has entered a new era, after Strive (ASST) announced an all-stock deal to acquire Semler Scientific (SMLR) this week. The deal marked the first merger of two publicly traded bitcoin treasuries, and according to a Wall Street banker familiar with the situation, this is just the start of […]
Crypto treasury firms that stockpile tokens could evolve from speculative wrappers into long-run economic engines for blockchains, argues Syncracy Capital co-founder Ryan Watkins. Digital asset treasury (DAT) firms are publicly traded companies that raise capital to acquire and manage crypto on their balance sheets. In a Sept. 23 blog post and an accompanying thread on […]