The news follows an investigation into the crypto exchange by Polish law enforcement officials and reports of customer withdrawal issues. Estonia's Financial Supervision and Resolution Authority (FSA), the country’s financial regulator, issued an investor warning for BB Trade Estonia OÜ, the company that operates the Zondacrypto digital asset exchange. The FSA said the company did not have a white paper listed on its website for the “TeamPL” crypto token listed on the crypto exchange, a violation of the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. According to the FSA: The investor warning for Zondacrypto and its parent company. Source: Estonia FSA Read more
Organizers failed to collect enough signatures to trigger a referendum that would have required the Swiss National Bank to hold Bitcoin in its reserves. A campaign to require the Swiss National Bank to hold Bitcoin is set to lapse after failing to gather enough signatures to trigger a national referendum, Reuters reported. The initiative sought to amend Switzerland’s constitution to require the central bank to hold Bitcoin (BTC) alongside gold and foreign currency assets, but organizers said they collected only about half of the 100,000 signatures required under Swiss law. The Swiss National Bank (SNB) has repeatedly opposed adding cryptocurrencies to its holdings, saying digital assets do not meet its reserve management standards due to concerns about volatility and liquidity, Reuters reported. Read more
The US banking regulator has already approved similar charter applications for Coinbase, Ripple Labs, BitGo, Circle, Fidelity Digital Assets and Paxos. Payward, the parent company of cryptocurrency exchange Kraken, announced that it had filed an application with the US Office of the Comptroller of the Currency (OCC) for a national trust company charter, following other digital asset companies. In a Friday notice, Payward said that the OCC application, if approved, would result in the establishment of Payward National Trust Company, allowing it to "provide fiduciary custody and other services primarily for digital assets." The application would make the Kraken parent one of a handful of crypto companies moving closer toward banking, following OCC approvals for Coinbase and others. “A national trust company provides the certainty institutions require and establishes the infrastructure to build the next generation of custody,” said Kraken co-CEO Arjun Sethi. “This is not about being first; it is about getting th...