Solution Uses DLT Workflows from Baton Systems Baton Systems has launched a real-time solution for cash settlement based upon distributed ledger technology (DLT), dubbed Core-Payments, which tracks and reconciles inbound cash settlements and helps firms “orchestrate the release of outbound cash payments,” officials say. The new solution, which Baton Systems says is being deployed by… Read More >>
DTCC & Others Want Ops Standards for Digital Assets
Clearing agencies DTCC, Clearstream, and Euroclear on September 18 called upon the financial services sector to develop industry standards for digital assets, including blockchain/distributed ledger technology (DLT) for trading digital securities and tokenized securities. Without industry standards, the growth of digital assets in the financial sector will slow and even stall, argue the agencies, which… Read More >>
SWIFT Warms to Tokenized Assets After Industry Tests
SWIFT is warming up to the concept of being able to transfer tokenized assets from its infrastructure to multiple public and private blockchains. This follows the positive results that the global financial messaging cooperative experienced after conducting a series of experiments that tested the SWIFT infrastructure via the transfer of tokenized assets, according to an… Read More >>
The Fed Will Supervise Crypto Assets & More
In early August, the Federal Reserve Board let the banks know that it is keeping an eye on their “novel activities” such as those involving crypto-assets and distributed ledger technology (DLT) otherwise known as blockchain systems. “The Federal Reserve Board on Tuesday [Aug. 8] provided additional information on its program to supervise novel activities in… Read More >>
Bittrex Resolves SEC’s Charges for $24M
Crypto asset trading platform Bittrex Inc. and its co-founder and former CEO, William Shihara, have settled with the SEC and will pay $24 million in disgorgement, interest, and penalties over allegations that the platform was functioning as an unregistered national exchange, broker, and clearing agency although the defendants neither admit nor deny the SEC’s allegations…. Read More >>
ASX & ASIC Explore a Second CHESS Replacement Effort
Australian Stock Exchange (ASX) and Australian Securities and Investments Commission (ASIC) officials are launching the process to start a second major effort to replace the legacy Clearing House Electronic Subregister System or CHESS platform. This effort follows a major blockchain-based project that was slated to replace CHESS but was halted in November 2022 after multiple… Read More >>
Crypto-Crime ‘Down Significantly’ in 2023: Chainalysis
“Our data shows that cryptography-related crime is down significantly this year.” So says Chainalysis, the New York City-based blockchain-analytics company. Of course, the crypto-crime goal posts do tend to keep moving, from quarter to quarter and year to year, thanks in part to would-be crypto moguls like Alex Mashinsky, founder of Celsius, a now bankrupt… Read More >>
Paxos Takes On Settlement for the Commodities Market
The people behind the regulated blockchain and tokenization infrastructure platform Paxos want to make a point about the need for a more efficient settlement infrastructure for the commodities market. To help make their point, the Paxos system offers “multilateral payment netting and simultaneous settlement for the unallocated, over-the-counter (OTC) precious metals market,” officials say. In… Read More >>
The Crypto Cowboys Must Play by the Rules
In mid-June, the state of New York stopped CoinEx, a Hong Kong-based firm, from offering its virtual currency trading platform to investors in all U.S. markets. CoinEx’s global platform helps investors buy and sell cryptocurrency via its website and mobile app. But there was a catch for its U.S. clients. The company did not register… Read More >>
Ex-SEC Enforcement Attorney Calls Crypto ‘Inherently Unsafe’
The question of the day was posed recently by a headline in The New York Times: Why Did Washington Fall So Hard for the Bankman-Fried Brothers? Of course, FTF News knows the answer. Washington politicos, like kids at the ice cream store, tend to fall for the flavor of the day. And until recently, that… Read More >>
