Global Payments Network Expands into Digital Assets and Crypto Products

Global Payments Network Initiates Digital Assets Pilot Programs

A prominent global payment messaging network is gearing up to launch pilot programs that will enable central and commercial banks to experiment with digital currencies and assets. These trials aim to showcase the network’s capability to facilitate value transfers across numerous accounts in over 200 countries and territories. Through these initiatives, the network seeks to streamline the integration of various digital asset classes and currencies into the financial ecosystem.

Partnership Announced for Enhanced Crypto Transaction Monitoring

Leading cryptocurrency custody provider joins forces with Solidus Labs, a specialist in crypto-native compliance and security solutions. The collaboration aims to strengthen the custody provider’s transaction monitoring capabilities by ensuring comprehensive tracking of both onchain and offchain transactions. This strategic partnership underscores the ongoing efforts to enhance the security and regulatory compliance within the cryptocurrency industry.

Anemoy and Archax Partner to Expand Access to Tokenized Assets

Web3 native asset manager, Anemoy, teams up with Archax, the UK’s regulated digital securities exchange, broker, and custodian, to introduce the Liquid Treasury Fund (LTF) on its Primary Platform. This partnership enables users on Archax to directly access LTF, facilitating streamlined on-chain investments in US Treasury bills. By broadening distribution channels for tokenized assets, this collaboration marks a significant advancement in democratizing access to traditional asset classes through blockchain technology.

Digital Assets Trade Groups Release Insights on Policy and Smart Contracts

Industry trade groups unveil reports focusing on the future regulatory landscape for cryptocurrencies and key principles for smart contract implementation in financial services. These insights shed light on the potential policy impacts of upcoming U.S. administrations on the blockchain industry, as well as best practices for leveraging smart contracts within financial institutions and regulatory frameworks. The reports aim to guide stakeholders towards a more secure and compliant adoption of blockchain technologies.

SEC and CFTC Take Action Against Mango Markets DAO and Affiliates

The U.S. SEC charges Mango DAO and Blockworks Foundation for conducting unregistered offerings and sales of MNGO tokens, totaling over $70 million. Additionally, the CFTC reportedly pursues allegations of commodities law violations against Mango Markets. The regulatory actions underscore the importance of compliance within decentralized autonomous organizations and highlight the ongoing efforts to regulate digital asset activities to protect investors and uphold market integrity.

DOJ Collaborates with Tether to Seize Funds from Cryptocurrency Scheme

Tether assists the U.S. DOJ in seizing more than $6 million linked to a cryptocurrency confidence scheme targeting U.S. individuals. In a separate case, an Indiana man pleads guilty to cyber intrusion and the theft of $37 million in cryptocurrency. Another operation by the Australian Federal Police results in the seizure of $9.3 million in cryptocurrency allegedly tied to illicit activities. These enforcement actions demonstrate ongoing efforts to combat cybercrime and safeguard the integrity of the digital asset ecosystem.

Increased Incidents of Crypto Hacks and Scams in Q3 2024

Recent reports highlight a rise in crypto hacks and scams, with incidents involving losses of millions of dollars. Bedrock suffers a $2 million loss in a hacking incident, while scammers deceive victims out of over $70,000 through a fake crypto wallet application. The data from Q3 2024 reveals a concerning trend of escalating losses to cyber threats in the crypto space, underscoring the importance of robust security measures and vigilant risk management practices.