Crypto ATMs are fast disappearing in the US as Tennessee’s ban goes into effect today while operators in Minnesota have until Aug. 1 to comply with a similar law. Cryptocurrency ATMs are fast disappearing from the American landscape as kiosk operators in two US states face bans and restrictions as new laws go into effect. Crypto ATM laws passed by Tennessee and Georgia went into effect on Wednesday, imposing a complete ban in the former and requiring transaction limits and reporting in the latter. The measures by the two states followed bans in Indiana, which went into effect in March, and Minnesota, set to enforce an ATM ban on Aug. 1. The Tennessee law, signed by Governor Bill Lee in April, bans the use and installation of cryptocurrency ATMs and kiosks, while the Georgia law requires that ATM operators cap money sent for new and existing users, issue warnings to customers and in some cases refund those who may have been the victims of fraud. Read more
The integration addresses one of the biggest obstacles keeping institutional capital on the sidelines of crypto markets: exchange counterparty risk. Anchorage Digital has integrated its off-exchange settlement platform with Binance, allowing institutional clients to trade on the exchange while keeping their crypto and cash in qualified custody at the federally chartered US crypto bank rather than depositing assets directly onto Binance. Under the arrangement, institutions can use crypto assets or US dollar deposits held with Anchorage as collateral to meet Binance's margin requirements without first transferring those assets onto the exchange. The companies said the model separates custody from trade execution, allowing assets to remain with an independent custodian until settlement. The service is initially available to select institutional clients and marks the first off-exchange settlement implementation for Anchorage Digital's Atlas platform, which the company said is designed to support institutional tra...
Bitcoin started July with a bang, rallying above $60,000 as traders predict a relief rally as the “base case” throughout the month. Bitcoin (BTC) rallied to $60,000 at Wednesday’s Wall Street open as stocks moved higher and US dollar strength fell. Key points: Read more
Backed by Joe Lubin, BitMine and SharpLink, the independent organization will serve as a liaison for financial institutions exploring Ethereum as competition for institutional capital heats up. An Ethereum founder and some of its biggest treasury holders are behind a new independent nonprofit launched to coordinate the blockchain's institutional outreach, underscoring the ecosystem’s push to attract more banks, asset managers and financial institutions as competition from rival blockchains intensifies. The nonprofit, Ethereum Institutional, was introduced on Wednesday with backing from Ether (ETH) treasury companies BitMine Immersion Technologies and SharpLink, as well as blockchain co-founder Joe Lubin and other contributors. It plans to expand beyond New York, London, Hong Kong and Singapore into additional financial hubs while offering education, standards development, industry research and institutional events. In a social media post announcing the launch, Ethereum Institutional said the ecosystem has lac...
Crédit Agricole’s CACEIS launches a euro-pegged stablecoin on Ethereum with 20.02 million tokens issued, targeting institutional flows and tokenized fund access. [Update July 1, 2:15 pm UTC: The article has been updated to add comments from CACEIS.] Crédit Agricole, Europe's third-largest bank by assets, has launched the EURO eXchange Token (EURXT), a euro-backed stablecoin issued through its asset servicing arm, Crédit Agricole Caisse d'Epargne Investor Services (CACEIS). CACEIS announced the launch on Wednesday, alongside the first subscription using EURXT into a tokenized Amundi Money Market Fund. Read more