The Tel Aviv Stock Exchange is planning to expand authorized activities to allow customers of its nonbanking members to trade cryptoassets, according to a press release. This proposed structure will enable customers to deposit and withdraw fiat money designated for investment in cryptocurrency. In the case of regulatory oversight, the International Monetary Fund (IMF) and the Financial Stability Board (FSB) are set to formulate a technical paper to attain a coordinated global approach for the regulation of cryptoassets. “We are very much in favor of regulating the world of digital money,” IMF Managing Director Kristalina Georgieva said in an interview with Bloomberg. However, she also noted that banning cryptocurrencies “should not be taken off the table” if regulations are slow to come and pose risks to consumers and financial stability.
In other crypto news, French police arrested two individuals allegedly behind an attack on the decentralized finance (DeFi) protocol Platypus, seizing approximately $222,000 worth of crypto. Notably, blockchain analytics firm Chainalysis found that almost $70 million in crypto has been donated to addresses provided by the Ukrainian government since the start of the war. In stark contrast, pro-Russia organizations have been identified, receiving nearly $5.4 million in donations, but these have waned over the year.
Alpha Blue Ocean (ABO) announced the launch of a new private investment firm, ABO Digital, which will provide alternative financing solutions to early-stage and high-growth companies in the digital asset space. With more than $2 billion in executed financing commitments globally over the last five years, the firm aims to leverage ABO’s experience as a structured Private Investments in Public Equity (PIPE) investor.
In Web3 news, Push Protocol announced the launch of a new group chat feature for Push Chat, its Web3 messaging app, with applications for DAOs, NFT communities, gaming, and more. Additionally, blockchain infrastructure provider Theta Labs partnered with ABS-CBN, a major content company in the Philippines, to power the company’s digital collectibles NFT business using Web3 video infrastructure. Furthermore, the Hashgraph Association partnered with telecommunications operators Orange to launch the AGV High-Speed Accelerator in Morocco, providing co-funding to entrepreneurs, start-ups, enterprises, government projects, universities, and academic institutions involved in DLT, blockchain, and fintech solutions.
While the path forward for cryptoassets may still seem uncertain, the recent developments in regulated trading platforms, private investment, and partnerships with content companies may lead to a brighter future as the crypto market continues to gain traction.
Source: Cryptonews
