Discover the top news in crypto for the week!
Sygnum is expanding its services for investors in Singapore while inflows in crypto reached the highest of the last three months. Moreover, blockchain technology could boost the global economy. Find out the top 5 crypto news of this week.
Sygnum Singapore secures in-principle approval to expand regulated activities
Sygnum just received in-principle approval from the Monetary Authority of Singapore to provide additional services for investors under its CMS licence. Once Sygnum gets full approval from regulators, it will be able to expand tokenization and corporate finance services for assets managers and Web 3 companies. The new services will cover the entire value chain, including corporate finance advisory services, capital market products, and custodial services. Read more
Ethereum’s ETH 2.0 shift to Proof-of-Stake is just months from launch, and analysts are bullish about the update. Here’s why.
Ethereum is moving from a Proof-of-Work (PoW) consensus to a Proof-of-Stake (PoS) in a change named ‘merge’ this summer. The shift will bring lower transaction costs for users and less congestion in the network, beyond improving its green profile. Those improvements aligned with the limited supply by the change in Ethereum’s burning mechanisms are turning analysts bullish for its future. Read more
Blockchain tech could add almost $2 trillion to global economy, says PwC report
According to PricewaterCoopers (PwC), blockchain technology could grow the global GDP by $1.76 trillion over the decade. The top five use-cases for blockchain technology include governance, financial instruments, identity, customer engagement, and contracts. In the same report, 61 percent of CEOs believe blockchain can play a significant role in the digital transformation of organisations. Read more
Cryptoverse: The young HODLers keeping bitcoin on an even keel
Young investors are the hope of the crypto world to continue the ‘HODL’ trend. A new study by eToro revealed that users aged 18 to 34 ‘were far more likely to invest in crypto than anyone else.’ In that age bracket, 66 percent of people already own bitcoin and other crypto assets, showing a 46 percent growth in ownership since July.
Over one-third of young crypto investors believe in the long-term value of digital assets as ‘a transformative asset class.’ Read more
Biden to take step toward regulating cryptocurrencies
This week, president Biden signed a new executive order, unifying the efforts of federal agencies to regulate cryptocurrencies in the country. This bill is a national-wide effort to develop a common framework for the future of digital assets in the US, including the study of a potential digital dollar. The new crypto bill will help investors and organisations navigate its regulatory obligations while the country has hopes to gain a global leadership position in crypto. Read more
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