Emma Channing’s Post

Jan Brzezek, founder and CEO of Crypto Finance Group recently shared his insights at #CVSummit 2023 alongside Mathias Imbach from Sygnum Bank and moderator Jürg Baltensperger. 🚀 In their discussion on "Switzerland’s institutional involvement in crypto: a decade of lessons for international finance and what lies ahead", Jan highlighted the incredible potential of Swiss regulation as a strong foundation for the #crypto industry. 🔍 Why Switzerland? Jan emphasised Switzerland's advanced #regulations, a robust foundation for future growth, combining traditional financial expertise with cutting-edge blockchain knowledge. He stressed the importance of crypto companies establishing a presence in Europe and how this aligns with Crypto Finance Group's vision. 🤝 Collaborating for Progress Jan revealed that Crypto Finance Group, as part of Deutsche Börse Group, is actively working in Germany with regulatory bodies like BaFin to obtain licenses for crypto #custody, #trading execution, and #tokenisation. He acknowledged the challenges posed by the current regulatory landscape but expressed optimism about the forthcoming clarity through initiatives like #MiCa, promising more organised regulations across Europe. 🌱 Growth and Opportunity His insights shed light on the immense growth opportunities in the crypto space. Despite the challenges, he underlined the importance of working with regulators to pave the way for a more transparent and secure crypto environment in Europe. #DigitalAssets #Finance #Innovation #Regulation #Blockchain #FutureOfFinance #CVSummit

🇫🇷#France’s 3rd-Largest Bank, Societe Generale Launches 🇪🇺Euro-Pegged #Stablecoin Société Générale, France’s third-largest bank, has just ventured into the stablecoin realm with the launch of #EURCV, the Euro-pegged stablecoin. This groundbreaking move marks a milestone in Europe's financial landscape, introducing the first stablecoin of its kind in the region! 💼 What does this mean for the financial world? EURCV, backed one-to-one by the Euro, opens doors for the bank's customer base to tap into the digital asset market. With Bitstamp as its launchpad, this stablecoin facilitates seamless trading opportunities for users. 🔍 Jean-Marc Stenger CEO of Société Générale Forge, underlines the crucial role of EURCV in Europe's evolving crypto landscape. Not just a novelty, this stablecoin is strategically designed for usage in digital bond settlements, fund transactions, and various asset dealings across different financial service providers. 📈 Moreover, AXA Investment Managers have already embraced EURCV, utilizing it to invest in the bank's digital green bond valued at 10 million euros. Société Générale’s proactive involvement in the crypto domain extends further, as they've obtained the highest access license for providing crypto services in France. 🌍 As the European Union gears up for crypto regulations in 2024, Société Générale's entry into the stablecoin market paves the way for transformative changes, signaling a pivotal moment in the evolving crypto landscape. Stay tuned for more updates on the growing integration of stablecoins in the European financial sphere! For all your inquiries regarding the application of license to conduct a virtual assets regulated activity, in Dubai ➡Drop us a line ➡[email protected] #CryptoFinance #Stablecoins #EURCV #SocieteGenerale #BlockchainInFinance #CryptoRegulations

🇨🇭Switzerland's oldest cantonal bank, Zuger Kantonalbank 🏦, has partnered with Sygnum to become the first Swiss cantonal bank to offer regulated cryptocurrency services to its customers. This move highlights the growing demand for cryptocurrencies in the traditional banking sector while maintaining a commitment to traditional banking values. This collaboration 🤝 underscores the convergence of traditional and crypto finance in Switzerland's financial landscape. The 🇺🇸 United States Department of Justice (DOJ) asserts that the absence of specific crypto regulations in the U.S. doesn't exempt former FTX CEO Sam Bankman-Fried (SBF) from charges related to misappropriation of funds in FTX. SBF's argument that FTX was not regulated in the United States is deemed irrelevant, as existing laws against stealing customer assets apply regardless of regulatory gaps. This case highlights the DOJ's commitment to pursuing legal action in the crypto industry, reinforcing the importance of compliance and accountability for cryptocurrency businesses and their executives. The governor of Banco 🇵🇹 de Portugal, Mário Centeno, emphasizes the need for global regulation in the crypto industry 🌏, citing the challenges of overseeing digital assets and decentralized finance at a national level. Centeno expresses skepticism about the sustainability of cryptocurrencies and calls for international cooperation to establish a robust regulatory framework, echoing the sentiments of other regulators and leaders who recognize the importance of consistent and coordinated crypto regulations on a global scale. This highlights the growing consensus on the necessity for comprehensive oversight in the crypto space to address potential risks and ensure stability. #compliance 🗞️

London Stock Exchange to Accept Bitcoin and Ethereum ETNs The London Stock Exchange (LSE) has officially announced its forthcoming acceptance of applications for Bitcoin and Ether crypto Exchange-Traded Notes (ETNs), slated to commence in the second quarter of 2024. Confirming this move on March 11, the exchange outlined the application process as per the guidelines detailed in its Crypto ETN Admission Factsheet. However, the precise commencement date for accepting applications was not disclosed. Outlined within the factsheet are the criteria stipulating that crypto ETNs must be physically backed and non-leveraged. Furthermore, they must possess a publicly available market price or value measure of the underlying asset, exclusively backed by Bitcoin or Ether. Emphasizing the importance of security, the exchange mandates that the underlying crypto assets be primarily held in a cold wallet or equivalent, under the custody of entities compliant with Anti-Money Laundering laws in the UK, EU, Switzerland, or the US. Defined as "debt securities providing exposure to an underlying asset," ETNs enable investors to trade securities mirroring the performance of crypto assets during the exchange's trading hours, offering a flexible investment avenue. Distinguishing itself from Exchange-Traded Funds (ETFs), ETNs function as debt instruments secured by their issuers rather than a pool of assets. Unlike ETFs, which often engage in complex debt strategies, ETNs offer a streamlined approach to investment. Simultaneously, the UK's Financial Conduct Authority (FCA) announced its non-objection to Recognised Investment Exchanges (RIEs) establishing a market segment for crypto-backed ETNs. Targeting "professional investors," including credit institutions and regulated investment firms, the FCA advises exchanges to implement robust investor protection measures. These include ongoing disclosure requirements and adherence to prospectus guidelines under the UK listing regime. London Stock Exchange #lse #bitcoin #ethereum #etf #bitcoinetfs #fca #london image source: LSE logo

Could the UK become a leader in crypto regulation? UK policymakers see a pivotal opportunity to shape the future of digital asset regulation, learning from global examples to foster innovation and ensure market stability. Last week at the Blockworks Digital Asset Summit 2024, Lord Chris Holmes and Dr. Lisa Cameron discussed the importance of clear, effective policies. With an eye on the EU's MiCA framework and the cautious US approach, the UK aims to navigate the complexities of regulating decentralised finance and attract innovation. As the UK plans to introduce new legislation around #stablecoins and #staking the question arises... What should effective crypto regulation look like, and how can it drive innovation while safeguarding investors? #CryptoRegulation #DigitalAssets #UKFinance

Navigating RWA Tokenization Across Global Jurisdictions: Insights and Implications Real-world asset (RWA) tokenization offers groundbreaking opportunities for transforming asset liquidity and expanding investment frontiers. Here’s how five key jurisdictions stack up: 1. United States: The Land of Opportunity*    ↳ Pro: Large market with a developed legal framework for digital assets.     ↳ Con: Complex regulatory environment with significant compliance demands. 2. Marshall Islands: Blockchain Forward     ↳ Pro: Progressive blockchain laws and no direct taxation on cryptocurrencies.     ↳ Con: Limited financial infrastructure and international scrutiny. 3. British Virgin Islands (BVI): Privacy-Focused   ↳ Pro: Favorable tax regulations and privacy for investors.     ↳ Con: Recent regulatory changes increasing oversight could affect flexibility. 4. Panama: The Strategic Connector   ↳ Pro: Strategic geographic location with laws encouraging fintech growth.     ↳ Con: Regulatory ambiguity could pose challenges for businesses seeking clarity. 5. Switzerland: Crypto Valley’s Heart   ↳ Pro: Established hub for crypto innovation with supportive legal structures.     ↳ Con: High operational and living costs could be prohibitive for smaller startups. Each jurisdiction offers distinct advantages tailored to different strategic needs in RWA tokenization. Selecting the right one depends on your specific project goals and risk tolerance. What’s your take on these jurisdictions? Which do you think offers the best environment for RWA tokenization? Join the discussion below! #Blockchain #CryptoInvesting #Tokenization #Fintech #RegulatoryCompliance #GlobalBusiness #CryptoValley #DigitalAssets #InvestmentOpportunities #LegalInsights #BlockchainTechnology

📈 Capital markets have always held a special place in my professional journey, primarily due to their profound impact on both our economy and society at large. My passion lies in supporting companies through pivotal financial events, such as IPOs, SPOs, and bond offerings. 💡 In today's dynamic financial landscape, I find it intriguing to explore alternative avenues for capital acquisition that bear similarities to traditional capital markets. For instance, companies now have the option to explore Initial Coin Offerings (ICOs), which parallel the concept of an IPO in the cryptocurrency industry. By releasing a whitepaper, businesses seeking funding for innovative projects like new coins, apps, or services can initiate an ICO as a means to raise capital. This process can manifest in various formats. 🌐 It is important to note that ICOs have garnered a mixed reputation on a global scale. Some countries have banned ICOs outright, and others have issued stern warnings about their unregulated and risky nature. To address these concerns, the European Parliament took a significant step on April 20, 2023, by adopting the Markets in Crypto-Assets (MiCA) regulation. Among its provisions, MiCA establishes a framework for the regulation of crypto asset offerings and marketing. 📅 As of 2025, ICOs within the European Union will become subject to this regulation. Issuers will be required to publish a whitepaper with specified contents, akin to the traditional Prospectus, to ensure consumer protection standards are met and funds are safeguarded before proceeding with their respective ICOs. Nonetheless, this regulatory process promises to be more streamlined compared to the complexities of an IPO issuance. 🚀 I am hopeful that the adoption of MiCA will contribute to improving the perception of crypto assets, mitigate the risks associated with crypto exchanges, and enhance the security of invested funds. As a result, we can look forward to a more secure future for crypto assets, with the potential to witness the first ICO under MiCA right here in Latvia. #cryptoassets #crypto #MiCA

💗 We are very pleased to be part of this important initiative for the European financial market! ☝ But calm down everyone, it is just a settlement technology. 🥇 The underlying assets traded and their value remain the same. 💶 Greetings from the buyer side: Our business partners should not have to understand in detail what happens technically after they place their order (physical global certificate, securities account, Clearstream, depository, SWIFT messages, reconciliation, T x, ...) as long as the assets end up in the depository quickly and reliably. They have enough to do understanding the needs of their customers and dealing with all kinds of bureaucracy. 🔑 Why are we as V-Bank AG participating anyway, or precisely because of this? Because it is our aim as a service provider to guarantee asset managers secure and fast access to the capital market and the investable global asset universe and thus enable them to do what they do best: Putting together an optimal portfolio for their customers and use all the assets they consider useful. And yes, some or perhaps even the majority of these assets will in future exclusively be issued and traded on blockchains as tokenized assets. 🤝Just as our business partners trust us to have the processing under control, we trust the Boerse Stuttgart Group and the Deutsche Bundesbank to have their DvP- and trigger solution under control. 🗣 I would love to talk much more often with the buy-side and the sell-side about what they really need from all of us as financial market infrastructure providers. 💡 We have to provide solutions for attractive assets/asset classes, values, liquidity, return opportunities & risks, Sharp Ratio, reduced volatility, ... 📵 I hope that as soon as possible we can stop talking about "blockchain“, "crypto“, "hashes" and "tokenization“ again and simply start using the technology at scale and creating added value for investors and issuers. ✔ Everything else is simply our job. ❣ Dr. Ulli Spankowski love you anyway and very much looking forward to working with you guys!

More news that the inevitable convergence between #TradFi and #Crypto continues apace comes from the UK. Reuters writes, the UK's FCA approved the launch of crypto-backed ETNs (exchange-traded notes) for professional investors, becoming the latest regulator to allow digital asset products while trying to shield retail investors. The FCA's ban on crypto exchange-traded notes (ETNs) and derivatives for retail investors would stay, it said, calling them "ill-suited" because of "the harm they pose". --- It's perfectly reasonable to conclude that the FCA is following the SEC's spot Bitcoin ETF approval with this move, particularly given the huge billion-dollar flows these vehicles have generated in only two trading months. Of course, correlation does not equal causation, but bitcoin also hitting new all-time highs yesterday (the day of the news) has provided many commentators with another reason to draw comparisons between the FCA's ruling allowing these ETNs and the SEC's greenlighting the Bitcoin ETFs. ETNs do still fall under the rubric of exchange-traded products (ETPs), but they are radically different products which is precisely why they are off the table for retail. While ETFs typically hold the underlying asset which aims to replicate the performance of an index, ETNs are debt instruments that do not own the underlying assets but are instead backed by the credit of the issuer. Though the value of an ETN is determined by the performance of an underlying index or asset, it's also influenced by factors such as the creditworthiness of the issuer and market demand for the ETN – this makes them a much riskier bet. Ultimately this decision will have many positive knock-on effects for the continuing adoption of cryptoassets in TradFi in the UK and elsewhere. But it's also fair to point out that these products are even further removed from the spot #BitcoinETFs in terms of their ability to provide investors with a substitute for genuine ownership of bitcoin and other cryptoassets. I for one will be very interested to see how they perform vs other crypto ETFs already available in Europe. #Bitcoin #ETPs #digitalassets #Tradi Link to Reuters article: https://lnkd.in/di-BHEZB