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BIG Weekly Newsletter
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A Message To The Reader
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Welcome to the BIG weekly Newsletter!
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This week read about the 5 Industries blockchain will most impact in 2024, how UK's digital securities sandbox champions blockchain in trading innovation and will 2024 see crypto make good on its financial inclusion promise.
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Remember to listen to Unchained podcast with Laura Shin, where she dives into the week’s hottest news story, and then gives a rundown of the biggest headlines in the weekly news recap on Fridays.
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We offer a free consultation with access to the blockchain insights. Book your free consultation with us here.
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BIG EXPERTISE
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Harness the power of blockchain with a trusted partner. BIG is transforming financial futures through strategic, compliant, and operational excellence.
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- Proven Expertise: Architected and executed strategies for multiple global entities, seamlessly integrating digital assets and pioneering tokenization.
- Swiss Localization: Successfully onboarded several firms in Switzerland, optimizing their governance and fundraising capacities.
- Strategic Guidance: Elevated numerous projects to success with effective board and corporate structures.
- Tailored Solutions: Designed and deployed tailored products for several industry leaders, ensuring alignment with individual functional needs
- Seamless Integration: Managed end-to-end integrations for numerous service providers, ensuring smooth transitions to live operations.
- Project Mastery: Transformed numerous project concepts into operational successes, consistently meeting and exceeding client expectations.
- Regulatory Partnerships: Forged strong ties with legal specialists, SROs, and FINMA, setting the gold standard in regulatory navigation.
- Compliance Leadership: Rolled out internationally recognized compliance tools and frameworks, guiding best practices in the sector.
- Crypto Assurance: Pioneered innovative methods for cryptocurrency ownership verification, securing assets for multiple global entities.
- Operational Excellence: Spearheaded operational setups for several renowned industry leaders, championing peak performance.
- Cybersecurity Vanguard: Protected clients from numerous potential cyber threats, establishing a reputation for unmatched security.
- Infrastructure Prowess: Revolutionized IT for several firms with state-of-the-art setups and blockchain optimizations.
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5 Industries Blockchain will most impact in 2024
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As we venture deeper into 2024, it’s evident that this technology is not just a fleeting trend, but a fundamental shift in digital interactions.
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Blockchain meets planetary health: exploring
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UK's digital securities sandbox champions blockchain in trading innovation. A joint initiative led by FCA and the Bank of England, the DSS marks a pivotal moment by ushering blockchain technology into trading securities.
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Will 2024 see crypto make good on its financial inclusion promise
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Compared to traditional banking systems, blockchain-based assets allow marginalized populations to bridge the entrenched identity gap bottlenecking their financial options.
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REGULATED DIGITAL ASSETS (STO, TRADING, CUSTODY, COMPLIANCE)
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Digital asset regulatory clarity increasing, much to Binance’s dismay
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The report reviews policy developments made last year in 21 jurisdictions, and some of these jurisdictions made more progress than others.
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BitGo obtains in-principle approval in Singapore for digital asset license
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BitGo, a decade-old crypto custody business, has obtained in-principle approval from Singapore’s top financial regulator for a Major Payment Institution license through its local entity.
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Banks object to the inclusion of digital assets in non bank wallet oversight
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The CFPB proposed that new rules apply only to those companies handling more than 5 million transactions annually. They would be subject to similar privacy laws as banks.
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FINANCIAL SERVICES & CENTRAL BANK DIGITAL CURRENCY (CBDC)
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Adhara wins Bank of Spain contract for wholesale CBDC, tokenized deposit trials
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Adhara will deliver a ‘digital interbank orchestration platform’, which we interpret as a tokenized deposit solution. Adhara has already developed such an offering.
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Nigeria’s CBDC wavers: Stakeholders analyze prospects of cNGN stablecoin
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Nigerian cryptocurrency industry stakeholders have commented on the approval of the cNGN stablecoin by the Central Bank of Nigeria (CBN) and its potential rate of adoption in the country compared with the eNaira CBDC.
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Turkey’s CBDC trials enter 2nd phase. Decision is possible by year’s end
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The central bank will conduct the second phase this year, after which it will decide whether to launch a digital lira. The Turkish government considers digitalization a high priority with its young population – around half are under 35.
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CRYPTOCURRENCIES, DeFi and NFT
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Crypto regulation in 2024: forecasts and perspectives
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The Markets in Crypto Assets Regulation, or MiCA, aims to establish uniform EU crypto regulation and provide legal certainty for digital assets beyond current EU legislation.
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CFTC DeFi policy report covers far more than identity
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The identity headline perpetuates the myth that for DeFi protocols to be compliant, they simply need to implement know-your-client (KYC) procedures. That may protect against illicit finance, but that is only one of many DeFi risks and regulatory objectives.
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NFT projects begin to give away ‘free’ company equity to holders
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The NFT founder claimed it was legal as the shares were not sold. They consulted multiple lawyers over the legalities of the move and holders did not expect to receive shares when they bought their NFTs.
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RECOMMENDED INDUSTRY REPORTS AND BOOKS
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2023 State of Crypto Report:
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Introducing the State of Crypto Index
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Swiss Digital Asset Custody Report 2023
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The safekeeping of financial assets is a global strength of Switzerland’s banking industry.
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Laura Shin is a crypto/blockchain journalist and host of the Unchained podcast. As a former senior editor of Forbes, she was the first mainstream reporter to cover crypto assets full-time. She gives an overview to all experts and novices alike on the use cases making a real impact, and their vision for the future of this innovative technology!
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Got a question?
Or perhaps a suggestion? We'd love your feedback.
Contact Rali Hill
- content provider of this Newsletter.
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