ChainCatcher news, according to PCHOME, Taiwan's "Financial Supervisory Commission" plans to launch a pilot program for virtual asset custody services, with three banks already expressing interest in applying. It is reported that the service may start as early as the first quarter of 2025, targeting virtual asset exchanges and professional institutional investors. Hu Zehua, Director of the Comprehensive Planning Department of the Financial Supervisory Commission, stated that applying institutions need to provide detailed descriptions of the types of virtual assets to be custodied, such as Bitcoin, Ethereum, etc.The Financial Supervisory Commission will pay special attention to the security of the business and the implementation of anti-money laundering measures. This move aims to promote financial innovation and lay the foundation for the upcoming special law on virtual assets. It is expected that by the end of this year, the Financial Supervisory Commission will introduce a draft of the relevant special law to provide a clear development framework for the virtual asset industry.

ChainCatcher news, according to Bloomberg, U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler stated that the digital asset custody service structure proposed by Bank of New York Mellon can be applied to cryptocurrencies beyond Bitcoin and Ethereum ETFs.Gensler mentioned that the structure proposed by Bank of New York Mellon includes the use of individual crypto wallets, with each wallet having a separate bank account, and prohibits mixing with bank assets. Earlier this week, Bank of New York Mellon acknowledged that it had submitted a Bitcoin and Ethereum custody plan to the SEC's Office of the Chief Accountant to protect customer funds in the event of a bank bankruptcy.

ChainCatcher news, Bank of New York Mellon (BNY) is moving towards providing custody services for Bitcoin and Ethereum for its exchange-traded fund (ETF) clients, following the U.S. Securities and Exchange Commission (SEC) easing its requirements regarding compliance with controversial cryptocurrency accounting standards.The SEC's Office of the Chief Accountant concluded earlier this year that banks do not need to comply with the SEC's Staff Accounting Bulletin SAB 121.SAB 121 requires companies to classify their safeguarded customer crypto assets as liabilities in their accounting. This has been a challenge for the U.S. crypto industry since its introduction in April 2022.

ChainCatcher news, according to TheBlock, Anchorage Digital announced that it will provide custody services for 21Shares' spot Bitcoin and Ethereum ETFs, and will require issuers and participants to use biometric authentication to participate in the crypto ETFs to enhance security.

ChainCatcher news, according to The Block, fintech company tZERO Group Inc. has been approved by U.S. regulators to become a special purpose broker-dealer for "digital asset securities custody."According to a statement released by the company on Tuesday, the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority have approved tZERO to custody digital assets, making it the second company to receive this license. Previously, digital asset company Prometheum received similar approval from the U.S. Securities and Exchange Commission last year, followed by approval from the U.S. Financial Industry Regulatory Authority to provide digital asset securities clearing and settlement services through its special purpose broker-dealer license.

ChainCatcher news, according to Cointelegraph, multinational bank Standard Chartered has announced that it will begin offering cryptocurrency custody services in the United Arab Emirates, currently supporting the custody of BTC and ETH.It is reported that Standard Chartered has launched the related custody services in collaboration with the cryptocurrency division of hedge fund Brevan Howard, Brevan Howard Digital. This custody solution has now received approval from the Dubai Financial Services Authority (DFSA), the specialized financial regulatory authority of DIFC.

ChainCatcher news, SEC Chief Accountant Paul Munter stated that the SEC's position on restricting banks from providing crypto custody services remains unchanged.On September 9, Munter reiterated the views of SEC Staff Accounting Bulletin No. 121 (SAB 121) at a banking conference, emphasizing that financial institutions need to record liabilities for custodial crypto assets on their balance sheets. Munter pointed out that although some arrangements do not comply with the standard, the SEC still believes that regulated financial institutions should not provide crypto custody services.ETF Store President Nate Geraci stated on the X platform, "The SEC's position on SAB 121 seems to be unwavering. They are clearly unwilling to allow regulated financial institutions the ability to custody cryptocurrencies."

ChainCatcher news, according to The Block, crypto brokerage Prometheum announced the inclusion of two digital assets, Uniswap (UNI) and Arbitrum (ARB), into its custody services, with plans to launch to institutional investors in the third quarter of 2024.In the future, the company also plans to expand its digital asset custody services to support investment products issued and transferred on the blockchain, including bonds, stocks, ETFs, mutual funds, options, and money market funds.

ChainCatcher news, the Australian Securities Exchange (ASX) listed company Digitalx has chosen Coinbase to provide custody and advanced trading execution services for its recently approved Bitcoin ETF "BTXX" in Australia.Through this collaboration, eligible Australian investors will be able to access Bitcoin and other digital assets through Coinbase Prime, a comprehensive prime brokerage platform, leveraging traditional fund structures.Previously, Coinbase has been recognized as a custodian by 8 out of 11 Bitcoin ETF issuers in the United States.

ChainCatcher news, Coinbase officially stated that today, the U.S. Securities and Exchange Commission (SEC) approved the applications for 9 spot Ethereum ETFs. Following the SEC's approval of spot Bitcoin ETFs in January this year, the approval of spot Ethereum ETFs marks another significant milestone for cryptocurrency, reflecting the ongoing innovation around crypto assets and the increasingly mature regulatory environment.Coinbase has also become a trusted partner and custodian for 10 spot Bitcoin ETFs and 8 newly approved spot Ethereum ETFs.

ChainCatcher news, Deep Custodian Limited has been granted the Hong Kong "Trust or Company Service Provider License (License No. TC009487)", allowing it to legally and compliantly provide clients with custody services for crypto assets including Bitcoin and Ethereum.Deep Custodian Limited stated that it will provide secure and compliant asset custody services for individual and institutional clients through state-of-the-art security technology, ensuring that every transaction can be conducted in a safe and reliable environment.In September last year, Deepcoin Labs was granted the Dubai DMCC license and established a $100 million fund to inject strong momentum and financial support for innovation in the Web3 industry. In January this year, Deepcoin became the seventh global exchange to obtain CODE compliance access to adhere to South Korea's cryptocurrency Travel Rule regulations.It is reported that since March 1, 2018, Hong Kong has officially implemented a licensing system for trust or company service providers, providing a legal and compliant regulatory framework for the independent custody of crypto assets, which is an important foundational system for Hong Kong as a Web3 financial center. TCSP has strict requirements for the IT infrastructure of applicants and operating entities, while inheriting many regulatory concepts from traditional finance, including compliance guarantees, KYC and anti-money laundering measures, as well as the establishment of cold and hot wallet security mechanisms, and the development of blockchain technology, among other stringent requirements.

ChainCatcher news, according to Bloomberg, Kraken's institutional business unit Kraken Institutional has begun offering custody services to clients in the UK and Australia. This division was launched in the US in March this year, primarily targeting hedge funds and exchange-traded fund issuers. Kraken plans to expand to more markets in 2024, including the EU, Switzerland, the Cayman Islands, and the British Virgin Islands. Kraken's retail trading services are already available globally, and its newly launched institutional services provide larger users with more control and functionality.

ChainCatcher news, Coinbase's international account tweeted that Coinbase Prime plans to provide custody services for ZKsync (ZK). Asset availability depends on the custody entity and the client's jurisdiction, but this does not mean that Coinbase will list ZK or has any intention to list ZK in the future.

ChainCatcher news, State Street Corp., headquartered in Boston, announced a restructuring of its digital asset team. Currently, its digital asset department has begun hiring, less than six months after layoffs in the department. It is reported that the bank plans to offer cryptocurrency custody services, a move that reflects State Street's increasing confidence in the digital asset market, as cryptocurrencies and tokenized assets become more integrated into the financial system.

ChainCatcher news, according to CoinDesk, institutional crypto custodian BitGo has partnered with CoinDesk Indices to provide custody services for the 20 cryptocurrencies that make up the CoinDesk 20 index.

ChainCatcher news, according to the official announcement, Swiss crypto financial service provider Bitcoin Suisse has announced the addition of Starknet (STRK) trading and custody services on its platform.

ChainCatcher news, according to official sources, digital asset custody service provider Liminal has announced that it has received preliminary approval for digital asset custody services in the UAE. Once formal licensing is obtained, the team will oversee its custody operations in the Middle East, which includes supervising compliance and security protocols, risk management, and audit procedures to protect client assets.Additionally, the Web3 asset data platform RootData shows that Criminal is a digital asset management platform and multi-signature wallet that allows everyone to easily and securely manage their digital assets.

ChainCatcher news, according to Ledger Insights, Zodia Custody announced that Bitcoin mining company Marathon Digital will become its digital asset custody client.The custody company Zodia Custody was co-founded by SC Ventures, a subsidiary of Standard Chartered Bank, and Northern Trust, with SBI joining as an important supporter.Earlier this month, Zodia Custody announced that it is one of the cryptocurrency custody providers for Deutsche Bank's asset management company DWS's cryptocurrency exchange-traded products (ETP). Zodia acts as a custodian alongside Coinbase.