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Crypto exchanges including OKX and Bybit have delisted Russian banks Tinkoff and Sberbank, due to Western sanctions following the Ukraine invasion. Despite this, the decentralized nature of P2P transactions makes complete enforcement challenging. The delistings highlight the growing reliance on cryptocurrencies amid Russia’s economic instability due to these sanctions.

The ongoing legal dispute between bankrupt cryptocurrency firm FTX and its creditors intensifies. The firm, owing $8.1 billion in customer debt, is proposing a reorganization plan to resolve its issues, which has been met with backlash from the creditors’ panel. The panel, comprised mostly of crypto traders and market makers, is accused of reckless disposition and risk-taking. Amidst these power struggles, the negotiation process for a restructuring scheme may be prolonged.

This article discusses the ongoing saga of the bankrupt cryptocurrency exchange FTX and its controversial reorganization strategy. Key issues include the lack of direct communication with creditors, the proposed “reboot” plan, potential criminal sanctions for the founder, and a contentious tug of war over liquid assets. The handling of this bankruptcy sets a precedent for the volatile cryptocurrency industry.

CACEIS, the asset servicing branch of Crédit Agricole and Santander, has been registered by the French Financial Markets Authority to provide cryptocurrency custody services, joining major financial institutions like Societe Generale’s Forge and AXA Investment Managers under advanced crypto regulatory frameworks.

Deutsche Bank, Germany’s largest banking institution, has applied for a digital asset custody license from the German financial regulator BaFin, signaling a shift in attitude towards the crypto sector. While this move increases acceptance of digital assets, it also raises concerns about excessive centralization and potential regulatory challenges.

Deutsche Bank, with $1.3 trillion in assets, has applied for a digital asset custody platform license from Germany’s finance regulator. This move positions the bank to potentially establish a minimum viable product in 2021, signaling a significant step toward embracing digital assets in the traditional financial sector.

Bitstamp, the world’s oldest crypto exchange, is negotiating with three major European banks to enable their entry into cryptocurrency services. This represents the different regulatory approaches between the EU, with its recent progressive MiCA regulations, and the more challenging US environment. Recent restrictions by Bitstamp on specific services for US users highlight this regulatory divergence.

The Basel Committee on Banking Supervision might soon impose disclosure requirements for banks’ crypto assets, underlining the risks involved in drastic shifts in finance and technology. Amid discussions about crypto regulations, it’s crucial to balance embracing technological advancements and mitigating their associated risks. A consultation paper on crypto asset exposure disclosure is expected soon.

“CBDCs, digital currencies issued by central banks, could pose data privacy threats due to their non-anonymous nature and extensive record of financial transactions. They also might alter our legal relationship with money, potentially leading to spending restrictions, transfer limits, or transaction blocks.”

Argentina’s Central Bank is endorsing a proposal for a Central Bank Digital Currency, referred to as the ‘digital peso’, as a solution to escalating inflation. Through blockchain technology, the use of this digital currency would offer operational traceability and potentially broaden the tax base without heightening tax rates.

South Korean video game giant, Netmarble, has made a significant move into blockchain gaming with its subsidiary’s coin, MarbleX’s MBX, which has become the first token from a South Korean gaming firm to get listed on the Japanese crypto exchange, Zaif. Despite numerous challenges posed by strict local regulations and policies, this progress represents a remarkable victory in the blockchain gaming industry. However, potential future hurdles, including increasing regulations in South Korea and a ban on initial coin offerings, cannot be overlooked.

“In 2021, Sam Bankman-Fried extended the lockup period for his employees’ SRM holdings, sparking debate about the ethos of decentralization in crypto markets. This controversial move coincided with the rise and fall of the SRM token, further leaving the crypto community questioning the control in decentralized markets, and the tricky balance between regulation and restrictive control.”

Bankrupt cryptocurrency lender Celsius Network aims to return customers’ funds by year-end and transform into a Bitcoin mining venture, NewCo. Despite hurdles, the $450 million restructuring plan proposes repayment using Bitcoin and Ethereum and stock in the new company. The future of these ambitious plans remains uncertain.