- France’s AMF now accepts crypto service provider applications to enhance market transparency and regulation.
- U.S. virtual meeting on crypto regulation postponed; will address industry policy issues and Genesis Trading Global completes restructuring, distributing $4 billion to creditors.
- Morgan Stanley approves spot Bitcoin ETFs for client recommendations; 0xSonicLabs and Fantom rebrand; Lido Finance launches institutional service.
Today’s highlights cover significant regulatory changes, market shifts, and institutional movements shaping the cryptocurrency landscape. From France’s new crypto regulations to major rebrandings and financial maneuvers, the post below shows a snapshot of what’s making waves today.
France’s AMF Welcomes Crypto Service Providers and Key Updates from the U.S. Crypto Market
The Autorité des Marchés Financiers (AMF) in France has officially started accepting applications from crypto-asset service providers. This new development is a step towards formalizing and regulating the cryptocurrency market in France.
By opening up the application process, the AMF aims to ensure that crypto businesses adhere to local regulations, which should enhance transparency and investor protection in the digital asset space. This move is part of France’s broader strategy to create a well-regulated environment for crypto activities within the country.
In the United States, a significant virtual meeting between Representative Ro Khanna, White House officials, and crypto executives has been rescheduled to later in the week. This meeting is expected to address regulatory and policy issues related to the cryptocurrency industry, reflecting the government’s ongoing engagement with the sector.
Genesis Trading Global, a crypto lender that faced collapse, has completed its restructuring efforts. The company has started distributing $4 billion in digital assets and cash to its creditors, marking a crucial step in resolving the aftermath of its financial troubles.
On the investment front, U.S. spot Bitcoin ETFs experienced their largest single-day outflow in 90 days last Friday. This substantial withdrawal indicates shifting investor sentiment and market dynamics within the Bitcoin investment landscape.
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Morgan Stanley, 0xSonicLabs, and Lido Finance Thrive
In a notable development for institutional investors, Morgan Stanley has become the first major Wall Street bank to allow its advisors to recommend spot Bitcoin ETFs to clients. This is a significant step towards integrating cryptocurrencies into traditional financial advisory services.
Additionally, 0xSonicLabs has rebranded to Sonic Labs, and the Fantom chain has been rebranded to Opera. These changes are part of strategic efforts to update their brand identities and align with their evolving objectives.
Lastly, Lido Finance has introduced Lido Institutional, targeting large clients such as custodians, asset managers, and exchanges. This new service aims to provide specialized support for institutional investors looking to engage with staking and digital asset management.
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