In a July 8 meeting, US and UK regulators highlighted the implementation of the GENIUS Act, payment modernization and cross-border cooperation, reinforcing a shared framework for digital asset oversight. The United States and the United Kingdom reaffirmed their commitment to closer financial regulatory cooperation during a recent bilateral working group, signaling continued policy alignment on digital assets as US authorities move to implement landmark stablecoin legislation. During the 13th meeting of the UK-US Financial Regulatory Working Group (FRWG), held in London on July 8, officials discussed stablecoin regulation, digital asset market structure in the United States, tokenization and the UK’s Wholesale Financial Markets Digital Strategy. An Aug. 4 joint statement summarizing the meeting said US officials updated their UK counterparts on implementation of the GENIUS Act, the country’s landmark stablecoin law, as well as ongoing work on digital asset market structure. Participants also discussed payment ...
The custody giant is expanding beyond safekeeping by adding staking services, allowing eligible institutional clients to earn yield on proof-of-stake assets. BNY and Galaxy have partnered to integrate institutional crypto staking into BNY’s digital asset custody platform, allowing eligible clients to earn staking rewards without moving assets out of custody. Under the arrangement, which was unveiled on Tuesday, institutional clients will be able to stake supported proof-of-stake assets while keeping them within BNY’s custody framework. Galaxy will provide the staking infrastructure and serve as a design partner for BNY’s broader digital asset platform. The companies did not specify which digital assets will be supported. The partnership also aims to combine custody, staking, reporting and tax services into a single offering for institutional clients, a move the companies said could simplify digital asset operations. Read more
Bitcoin built on $64,000 as hopes of the Strait of Hormuz reopening to oil traffic sent the S&P 500 index to a record $70 trillion market cap. Bitcoin saw new August highs into Tuesday’s Wall Street open as markets bet on US-Iran tensions again easing. Key points: Data from TradingView showed BTC/USD climbing to $64,176 on Bitstamp, marking maximum daily gains of around 1%. Read more