Canadian Ether Fund Launches, Swiss Bank Tokenizes Shares, New German Law Passed
By:
Earlier this month, 3iQ Corp., a Toronto-based investment management firm, announced the listing of its fund, The Ether Fund (the Fund), on the Toronto Stock Exchange, following the recent completion of its initial public offering for approximately US $76.5 million. The Fund aims to provide investors with the ability to purchase shares in the Fund and receive exposure to changes in ether’s price over time. The same company launched a similar bitcoin fund earlier this year.
This week, Sygnum announced that it was the world’s first bank to tokenize its shares on a distributed ledger, thereby laying the foundation for a future public offering. The bank currently holds a banking license in Switzerland and a Singapore asset management license, and it plans to eventually list shares in those two countries. The announcement states that tokenization will allow the share registry to continuously and au
UK Financial Conduct Authority Establishes Temporary Registration Regime For Cryptoasset Businesses Date
16/12/2020
The Financial Conduct Authority (FCA) has established a Temporary Registration Regime to allow existing cryptoasset firms, who have applied to be registered with the FCA, to continue trading. The FCA is advising customers of cryptoasset firms which should have applied to the FCA, but have not done so, to withdraw their cryptoassets or money before 10 January 2021.
From 10 January 2020, the FCA became the anti-money laundering and counter terrorist financing (AML/CTF) supervisor for these types of firms, which includes firms that exchange money to and from cryptoassets and those that safeguard their customers’ cryptoassets. From this date, ‘existing cryptoasset businesses’ (ie firms operating immediately before 10 January 2020) have had to comply with the Money Laundering Regulations; such firms were required to be registered with the FCA by 10 January