Miami real estate firm accepts crypto deposits for condos after conference

Miami-based E11EVEN Hotel and Residences is claiming to be the first real estate company to allow deposits for property purchases in the form of cryptocurrency. Speaking to Fox Business, company and condominium project co-founder, Marc Roberts, stated the enthusiasm for crypto has been “really astounding”. Roberts noted that local interest in crypto assets had piqued amid the recent Bitcoin Miami conference — which took place earlier this month and drew crowds of approximately 50,000 according to its organizers. He noted there has been a “tremendous response” to E11EVEN’s announced support…

Pension provider partners with Coinbase to offer 5% exposure to crypto

United States-based retirement plan provider, ForUsAll, is joining forces with Coinbase to allow clients to invest up to 5% of their portfolio assets in cryptocurrencies. The pension provider, which primarily serves small-to-medium-sized businesses, is working to offer exposure to more than 50 cryptocurrencies in a product called Alt 401(k). The firm’s co-founder and chief investment officer, David Ramirez, acknowledged concerns regarding offering crypto products in pension portfolios due to their volatility, but argued that U.S. citizens will be at a “disadvantage” if they are not given the option of accessing…

Biden Eyes Taxing Crypto, Thailand Clamps Down

The first half of this year saw massive rallies in crypto, and big regulatory moves in response.  Key Points: Biden Administration to require banks/exchanges/blockchain/crypto/defi companies to report Crypto transactions over $10,000 to the IRS. Thailand SEC Cracks Down: Effective June 11, 2021, Meme Tokens (Such as Doge), Fan Tokens, NFTs and Exchange Tokens cannot be traded in Thailand. Regulation fears one reason for the recent crypto dip. Some worry more regulation will cause further declines for all cryptocurrencies. Crypto Regulation in the US Rears its Ugly Head…

Goldman Sachs’ crypto trading desk expands to Ether

United States investment bank Goldman Sachs is planning to offer Ether (ETH) derivatives products in the coming months, setting the stage for wider adoption of the second-largest cryptocurrency and marking a significant departure from the institution’s critical stance on digital assets in the past.  Mathew McDermott, Goldman’s managing director of digital assets, confirmed Monday that the investment bank is expanding into Ether options and futures. In an interview with Bloomberg News, McDermott said institutional demand for cryptocurrencies will continue to grow despite the recent bout of market volatility: “Institutional adoption will…

South Korea’s small crypto exchanges face increasing regulatory heat

Authorities in South Korea are continuing to propose and enact measures aimed at maintaining strict oversight over the nation’s crypto exchange market. These come amid a significant uptick in cryptocurrency trading volume, especially for altcoins. In May, South Korea’s Financial Services Commission (FSC) announced that the government is planning to enforce stricter regulatory policies on cryptocurrencies in general. This move comes as virtual asset service providers (VASPs) have been given until September to register with the appropriate state authorities. Crypto exchanges in South Korea were already under pressure even before…

MicroStrategy could hold more than $4B in Bitcoin after latest private offering and crypto purchase

Business intelligence company MicroStrategy has completed its $500 million offering of secured notes, and said it plans to use the proceeds to purchase Bitcoin. In a Monday announcement, MicroStrategy said it had sold $500 million worth of senior secured notes in a private offering to buyers within and outside the United States. After deducting expenses, initial purchaser discounts, and commissions, the firm said the net proceeds were roughly $488 million, funds which it intends to use to buy Bitcoin (BTC). Since announcing its first $250 million BTC purchase in August…

South Korean Banks to Follow New Crypto Restrictions

Share this article South Korea is introducing new banking restrictions to regulate crypto exchanges. The country’s bankers association will also hold a meeting to discuss new rules for reducing their liability on servicing crypto businesses.  South Korea Escalates Crypto Regulation South Korea is bringing in new regulations for banks serving crypto customers. On Sunday, the Financial Services Commission (FSC) announced that banks must classify crypto clients as “high-risk” and make them subject to stringent monitoring and KYC rules. The newly proposed FSC guidelines also require banks to report high-volume transactions…

Lack of crypto regulations alarming, says Italy’s stock market regulator

Paolo Savona, the chairman of the Commissione Nazionale per le Società e la Borsa (Consob) — Italy’s securities regulator — has raised alarms over crypto’s growing popularity in the absence of firm regulatory standards. According to Reuters, Savona made this position known while delivering Consob’s annual report on Monday stating that the lack of clear-cut regulations creates an opportunity for criminals to utilize crypto for illegal activities. According to Savona: “Without proper oversight, there could be a worsening in market transparency, the basis of legality and rational choice for (market) operators.”…

Korean banks will need to classify crypto exchange clients as ‘high risk’

New rules announced by South Korea’s Financial Services Commission, or FSC, are expected to affect around 60 unauthorized cryptocurrency exchanges in the country and a new policy for banks will require that they classify any crypto exchange clients as “high risk.” According to the Korea Times, the new guidelines were announced on Sunday and are intended to ensure that crypto exchanges strengthen their monitoring of transactions and uphold strong user ID requirements. Until now, only the four largest exchanges in South Korea have set up real-name accounts that have been…

Block.one free to focus on $10B crypto business after lawsuit settlements

EOSIO developer Block.one says it is focusing on its crypto business mandate after recently settling a class action lawsuit. In a blog post published on Friday, the blockchain software firm announced a settlement agreement with a group of investors led by the Crypto Assets Opportunity Fund related to the 2018 EOS initial coin offering. If approved by the court, Block.one will settle for $27.5 million, a figure similar to the fine remitted by the company to the United States Securities and Exchange Commission back in October 2019. The EOS ICO…