Indias crypto future hinges on govt consultation paper

Indias Department of Economic Affairs consultation paper is expected to be a watershed moment for crypto regulation in the country, potentially setting the stage for future legislation.

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Cardano Team Laying Ground To Onboard L2s- Developer

Cardano contributor Sebastien Guillemot has disclosed plans to facilitate the building of Layer 2 protocols in the blockchain platform. His comments came in response to a user’s query about the viability of creating trustless bridges and L2 solutions. Initially, Guillemot discussed the challenges faced by ADA developers in raising funds for projects related to multi-tiered […]

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Binance set to reenter Japanese crypto market

Binance is set to reenter the Japanese crypto market after acquiring the regulated crypto exchange platform, Sakura Exchange Bitcoin (SEBC). The SEBC platform will terminate its current crypto exchange and brokerage services by May 31, 2023, and reopen as Binance Japan in June. Binance had to fold its Japan operations in 2018 after regulatory warnings, but has since mended relations with regulators and reentered other markets through acquisitions. (Read More)

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Binance Expands In Japan With New Service, While Blocking North Korean Access To Platform

Binance, the renowned cryptocurrency exchange, has made significant strides in expanding its reach in the Japanese market. According to a latest report, Sakura Exchange BitCoin (SEBC), the Japanese crypto exchange acquired by Binance in November last year, has revealed plans to introduce a new service called Binance JAPANrt. This move comes under the jurisdiction and scrutiny […]

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Binance to Restore Full Services in Japan in August, CZ Unveils

Cryptocurrency exchange Binance will start offering full services in Japan next month, founder Changpeng Zhao (CZ) announced. The leading trading venue for digital assets reenters the Japanese market with a domestic exchange after announcing earlier it was discontinuing services through its global platform. Binance Returns to Japan, Praises Its Web3 Regulatory Framework The world’s largest [...]

The post Binance to Restore Full Services in Japan in August, CZ Unveils appeared first on Crypto Breaking News.

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Exclusive: Johan Hörmark on SEB's Blockchain-Driven Bond Platform

Johan Hörmark, Project Manager at SEB, discusses the transformative potential of their blockchain-based digital bond platform, so|bond, in the financial secto (Read More)

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Binance’s Japan Expansion: CZ Verifies August Debut

This year, Binance, the largest cryptocurrency exchange in the world, faced significant regulatory scrutiny in various countries, resulting in actions and lawsuits against the platform. However, Japan has shown a more welcoming approach to this exchange and is embracing its presence. Recently, it was officially confirmed that Binance Japan will launch in August. Changpeng Zhao, […]

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OneCoin head of compliance facing 40-year sentence after US extradition

The alleged fraudster was accused of doing the “exact opposite” of her job title, which was to ensure OneCoin was complying with laws.

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SEBA Bank Launches New Offering to Simplify Crypto Banking

<p>SEBA Bank, a Swiss-based <a href="https://www.financemagnates.com/tag/digital-asset/" target="_blank" rel="follow">digital asset</a> banking platform, has presented a new offering to make cryptocurrency banking easier and to match the needs of traditional and digital investors.</p><p>SEBA Bank Presents a New Offering</p><p>According to Monday's press release, SEBA Bank is introducing three types of exclusive programs that customers can choose between as part of the new offering. The Corporate, Gold and Platinum programs are aimed at the most demanding traders. </p><p>"SEBA is a crypto banking industry leader, bridging and simplifying traditional and digital finance. Since its creation, we have developed a unique universe of products and services. With the launch of the [new] SEBA offering consisting of the Gold program, the Platinum program, and the Corporate program, we continue to reshape finance. We offer our demanding program members a unique, and personalized experience," Mathias Schuetz, the Chief Commercial Officer of EMEA at SEBA Bank, commented on the launch.</p><p>The Gold program is designed to guarantee investors access to institutional-grade crypto services. The Corporate program is aimed at companies active in the digital asset sector, while Platinum was created for investors seeking personalized client support. Its members receive a metal credit card with a custom limit and access to concierge services and airport lounges.</p><p>New Hires and New Licenses for SEBA Bank</p><p>Focusing on continuous and dynamic growth, SEBA Bank has expanded its Asian footprint <a href="https://www.financemagnates.com/cryptocurrency/seba-bank-enters-apac-with-new-hong-kong-office/" target="_blank" rel="follow">with a new office in Hong Kong</a> by establishing a local subsidiary, SEBA (Hong Kong) Limited. The new office is the cryptocurrency company's first physical location in the APAC region. The main goal of the <a href="https://www.financemagnates.com/tag/hong-kong/" target="_blank" rel="follow">Hong Kong</a> branch is to focus on market research and consultancy services.</p><p>A few days later, the company partnered with HasKey Digital Asset Group, a provider of professional trading solutions in the Asian cryptocurrency market, to accelerate the institutional adoption of digital assets in Hong Kong.</p><blockquote class="twitter-tweet"><p lang="en" dir="ltr">?????????? | Today, we are excited to announce a partnership with <a href="https://twitter.com/HashKeyGroup?ref_src=twsrc%5Etfw">@HashKeyGroup</a>, end-to-end digital asset financial services group in Asia. Read the full announcement ?? <a href="https://t.co/BaBfu17WAf">https://t.co/BaBfu17WAf</a> <a href="https://t.co/ZIPHn9wxVn">pic.twitter.com/ZIPHn9wxVn</a></p>— SEBA Bank AG (@WeAreSEBA) <a href="https://twitter.com/WeAreSEBA/status/1599684903481712640?ref_src=twsrc%5Etfw">December 5, 2022</a></blockquote><p>Late last year, the company hired a new Chief Technology Officer (CTO), Xavier Alabart, who has nearly 20 years of experience in product and leading technology teams. Previously, he worked as the CTO for Bolttech, the Insurtech <a href="https://www.financemagnates.com/terms/u/unicorn/" class="terms__main-term" id="9bfecec8-3709-4352-ac8a-79370b9279af" target="_blank">Unicorn</a> with $44 billion under management.</p><p>Watch the recent FMLS22 panel on the cryptocurrency future.</p><p>NFT Custody Offered by SEBA Bank</p><p>As part of its innovative cryptocurrency products, the Zug-headquartered digital asset banking platform <a href="https://www.financemagnates.com/cryptocurrency/seba-bank-offers-nft-custody-amid-market-uncertainty/" target="_blank" rel="follow">offers a non-fungible tokens (NFTs) custody solution</a> to secure funds belonging to customers. </p><p>The latest service applies to every <a href="https://www.financemagnates.com/terms/e/ethereum/" class="terms__secondary-term" id="230aa7bc-daf7-4523-af41-90671a2e79de" target="_blank">Ethereum</a>-based NFT, including 'blue chips' like CryptoPunks and Bored Apes collections. According to SEBA Bank, in Q3 2022 alone, the NFTs market gathered 2.2 million unique users, increasing by 36% when compared to the same period a year earlier. </p><p>However, the overall statistics show a substantial slide in popularity in 2022. At the beginning of last year, the value of daily NFT sales reached about $200 million, now sitting at $15 million per day.</p> This article was written by Damian Chmiel at www.financemagnates.com.

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Co-Founder of the $4 Billion OneCoin Pyramid Scheme Pleads Guilty to Fraud Charges

The co-founder of OneCoin, Karl Greenwood has pleaded guilty to fraud charges and could face up to 20 years.

Continue reading Co-Founder of the $4 Billion OneCoin Pyramid Scheme Pleads Guilty to Fraud Charges at DailyCoin.com.

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$4B OneCoin scam co-founder pleads guilty, faces 60 years jail

The co-founder of the fraudulent scheme is set to be sentenced in April 2023 on charges relating to wire fraud and money laundering.

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Binance Opens Up Doors To The Japanese Market With Acquisition Of SEBC

Binance, the world’s leading crypto exchange, announced its acquisition of Sakura Exchange BitCoins (SEBC), a registered crypto exchange service provider, on November 30th. With this acquisition, the leading crypto exchange opens up its doors to the Japanese Market. Along with its brokerage business, SEBC also provides its clients with consultancy services. The announcement post lists […]

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SEBA Bank Enters APAC with New Hong Kong Office

<p>Switzerland-headquartered <a href="https://www.financemagnates.com/tag/seba-crypto-ag/" target="_blank" rel="follow">SEBA Bank AG</a> has expanded its Asian footprint with a new office in Hong Kong by establishing a local subsidiary, SEBA (Hong Kong) Limited.</p><p>Announced on Wednesday, the new office is the first physical presence of the Swiss company in the <a href="https://www.financemagnates.com/terms/a/asia-pacific-apac/" target="_blank" id="6a6c466f-8e57-4ee5-81b8-239e9d7b0667_1" class="terms__main-term">Asia-Pacific (APAC</a>) region. The Hong Kong subsidiary will initially focus on consultancy services and market research. Additionally, it will have the advantage of strategically partnering in the area for its Swiss head office.</p><p>However, the <a href="https://www.financemagnates.com/cryptocurrency/hong-kong-set-to-legalize-crypto/" target="_blank" rel="follow">Hong Kong</a> subsidiary is not licensed to conduct banking and financial activities in China’s autonomous jurisdiction, nor supervised by banking and financial authorities.</p><p>“We are proud to strengthen our presence in the APAC market with the opening of the new office of SEBA Hong Kong,” said SEBA Bank’s CEO, Franz Bergmueller.</p><p>Ludovic Shum is leading the new office as the Managing Director. He has been working with the company for a year and has extensive experience around <a href="https://www.financemagnates.com/terms/c/compliance/" target="_blank" id="569f58ee-534c-44f0-a7cd-f55b0f9a2b2a_1" class="terms__secondary-term">compliance</a> working with financial services giants and regulators. Previously, he worked for Credit Suisse, Hong Kong’s Securities and Futures Commission, Merrill Lynch, HSBC and a couple of other firms.</p><p>“With a considerable pedigree as an international financial center, as well as a supportive regulatory approach to cryptocurrencies, Hong Kong is cementing its position as a global leader in cryptocurrencies,” added Bergmueller.</p><p>Going International</p><p>SEBA was among the first cryptocurrency startup to receive a banking license in Switzerland and <a href="https://www.financemagnates.com/cryptocurrency/news/seba-launches-crypto-banking-services-in-switzerland/" target="_blank" rel="follow">launched services</a> in November 2019. On top of that, it <a href="https://www.financemagnates.com/cryptocurrency/news/seba-bank-gains-custodian-license-from-finma/" target="_blank" rel="follow">received a CISA license</a> to act as a custodian bank for Swiss collective investment schemes. Moreover, the company bolstered its international ambitions by gaining an <a href="https://www.financemagnates.com/cryptocurrency/news/crypto-focused-seba-bank-gains-abu-dhabi-license/" target="_blank" rel="follow">Abu Dhabi license</a> earlier this year.</p><p>Since its establishment in 2018, SEBA has raised $246.9 million in funding, according to Crunchbase. It closed its last funding round earlier this year, raising $120 million.</p><p>“The opening of our Hong Kong office is critical to our ambition in the region,” said Shum.</p><p>“By strengthening our presence in a key international financial centre, we are proud to form part of the crypto ecosystem and to contribute towards the development of the virtual/digital assets space in Hong Kong and the region.”</p> This article was written by Arnab Shome at www.financemagnates.com.

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Argentina to Revamp Anti Money Laundering Law, Proposes Creation of VASP Registry

Argentina is preparing to revamp its anti-money laundering and terrorism financing law. It has proposed to include the creation of a registry for virtual asset services providers (VASPs) in the country as part of the new modifications. The changes would prepare the country for the review that the Financial Action Task Force (FATF) is slated

The post Argentina to Revamp Anti Money Laundering Law, Proposes Creation of VASP Registry appeared first on BTC Ethereum Crypto Currency Blog.

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Swiss’ SEBA Bank Launches Regulated Custody Services for Blue Chip NFTs

SEBA bank has expanded the reach of its crypto offerings with a new service dedicated to custody for NFTs (Read More)

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SEBA Bank Offers NFT Custody amid Market Uncertainty

<p> SEBA Bank, a Zug-headquartered digital asset banking platform, launched a non-fungible tokens (<a href="https://www.financemagnates.com/tag/nft/" target="_blank">NFTs</a>) custody solution on Wednesday to secure clients’ assets. The newly announced service includes every Ethereum-based NFT, including ‘blue chips’ like CryptoPunks and Bored Apes collections.</p><p class="MsoNormal">Non-fungible tokens are blockchain-based and represent digital value in the form of items, videos, images or online games. NFTs became popular in 2021 among artists, gamers, athletes and investors, who are currently looking for professional management of their assets. SEBA Bank wants to provide them with suitable solutions, although the industry itself is feeling the cold breeze of the 'cryptocurrency winter'.</p><p class="MsoNormal">“As a licensed and FINMA-regulated Swiss bank with core competence in <a href="https://www.financemagnates.com/terms/c/cryptocurrencies/" target="_blank" id="b091101e-6e02-4b36-aa0e-7c972dfdd6ed_1" class="terms__main-term">cryptocurrencies</a> and digital assets, we enable all of our clients to handle traditional and digital assets securely. We have the knowledge, established processes, and above all, a custody solution that is ISAE 3402 certified and established by independent bodies,” Urs Bernegger, the Co-Head of Markets & Investment Solutions of SEBA Bank, said.</p><p class="MsoNormal">“The range of services combined with the highest security standards makes SEBA Bank’s service offering unique, and we are very pleased to be able to support our clients with our expertise in expanding our service by offering NFT custody.”</p><p class="MsoNormal">NFTs Are Not So Popular Anymore?</p><p class="MsoNormal">According to <a href="https://www.financemagnates.com/tag/seba-crypto-ag/" target="_blank">SEBA Bank</a>, in Q3 2022 alone, the NFTs market gathered 2.2 million unique users, increasing by 36% when compared to the same period a year earlier. However, the volumes for 2022 alone show an evident market slump. In the third quarter, trading volume in the NFTs market fell by 60% compared to the previous one.</p><p class="MsoNormal">In the reported period, NFTs sales amounted to $3.4 billion, slipping significantly from the $8.4 billion level seen in the second quarter and from $12.5 billion in the first quarter, when the market achieved record sales. Another reason for the drop in value is that a sizable portion of NFTs are priced in cryptocurrencies. Meanwhile, <a href="https://www.financemagnates.com/terms/b/bitcoin/" target="_blank" id="261088a9-0f41-4202-a73c-31f75ba6bd93_1" class="terms__secondary-term">Bitcoin</a> has slipped 60% since the beginning of the year and now costs about $20,000, not $69,000, as recently as last October.</p><p class="MsoNormal">This September, the largest NFTs platform, <a href="https://www.financemagnates.com/tag/opensea/" target="_blank">OpenSea</a>, reported its fifth consecutive month of declining sales. Analysts and investors say the ‘cryptocurrency winter’, an extended period of low prices and consolidation in the market for major digital assets, is to blame for the situation.</p><p class="MsoNormal">On the other hand, SEBA Bank itself is not worried about the ‘crypto winter’ and is consequently expanding its services. Over the past year, it has obtained a custodian license from Switzerland’s <a href="https://www.financemagnates.com/cryptocurrency/news/seba-bank-gains-custodian-license-from-finma/">FINMA</a> and then a license allowing it to operate in <a href="https://www.financemagnates.com/cryptocurrency/news/crypto-focused-seba-bank-gains-abu-dhabi-license/">Abu Dhabi</a>.</p> This article was written by Damian Chmiel at www.financemagnates.com.

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Ethereum Staking Services Implemented by Swiss Bank SEBA

The Ethereum merge’s anticipation has put forward support from around the globe. In preparation for the network’s awaited merge event later this month, the Swiss-regulated cryptocurrency platform SEBA Bank has introduced ether staking solutions for large clients. According to a statement from the bank, the much-touted institutional-grade offering enables its users to earn rewards on […]

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SEBA Bank Floats Ethereum Staking Service for Institutional Investors

Swiss-based digital bank SEBA has announced the launch of its Ethereum staking service, tailored to fit the needs of institutional investors. (Read More)

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SEBA bank launches Ethereum staking platform ahead of Merge

SEBA Bank, a popular crypto banking firm in Switzerland, has unveiled its Ethereum staking platform. The crypto bank announced the development in a press release [...]

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SEBA Bank launches Ethereum staking for institutional investors

In the latest Ethereum news, SEBA Bank, a global crypto lender based in Switzerland, will support Ethereum staking for institutional clients after the Ethereum merge, the bank said in a press release on Wednesday.

The service will enable institutional grade clients to access and earn from staking rewards on the Ethereum proof-of-stake chain.

Apart from Ethereum, other PoS protocols in the SEBA staking product suite are Polkadot and Tezos.

To help its clients, the bank will tap into its staking management platform to offer a fully integrated solution, with customers earning rewards on a monthly basis. The solution will also provide for adjustable lock up periods post-merge.

Mathias Schütz, SEBA Bank’s Head Technology and Client Solutions said in a statement that supporting staking for ETH ahead of the highly anticipated merge allows institutional investors the opportunity to help secure the Ethereum network via collaboration with “a trusted counterparty.”

According to SEBA Bank, its ETH staking service comes amid increased demand from institutions around digital assets staking and decentralised finance (DeFi).

As our analyst Dan Ashmore recently noted in this article, the upcoming merge could see Ethereum offer DeFi sector’s first “risk-free” rate reference.

As reported earlier, Ethereum continues to inch closer to its mainnet PoS launch – with Tuesday’s successful Bellatrix upgrade pushing the leading smart contracts platform nearer to the event.

After its latest upgrade, the Ethereum consensus layer is “merge-ready” and will complete with the next upgrade – Paris – which will see the Beacon Chain merge with the proof-of-work mainnet to officially transition Ethereum to a PoS chain.

The merge is expected around 15 September.

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