“Regulation S-P: Privacy of Consumer Financial Information and Safeguarding Customer Information”
The SEC has moved the customer information protection amendments to the Federal Registry. These guidelines were last updated in the year 2000.
These amendments have been updated to coincide with the new digital asset-based trading system, and they will go into effect August the 2nd, 2024.
Any customer working with a broker-dealer relationship in financial assets ranging from foreign currency to local economic assets will now be covered under these new amendments. Federal Register Finra
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Amendments to S-P Regulation | Youtube
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TEHRAN, Jun. 21 (MNA) – Venezuela is at the doorstep of joining the BRICS group of nations and ready to offer its fuel and mineral resources to future partners, the country’s Executive Vice President Delcy Rodriguez said. | MNHR News
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Digital technology is undoubtedly the spear tip of innovation driving financial services forward.
And that spear tip is coming to include blockchain, or distributed ledger, technology. That’s because proponents of blockchain and on-chain solutions believe the tokenization of financial assets could one day reshape the operating models and transform the business functions around areas like wealth management. | Pymnts
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Bloomberg reported today that Standard Chartered Plc is launching a spot crypto trading desk for Bitcoin and Ether in London, citing sources. The unit will be part of the FX trading desk.
An emailed statement from the bank said it had been working with regulators to support institutional demand to trade Bitcoin and Ethereum.
Banks such as Goldman Sachs run derivatives trading desks, but spot desks are relatively rare in banks.
Ledger Insights Bloomberg
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During today’s Citi Digital Money Symposium, the bank unveiled its new Citi Integrated Digital Assets Platform (CIDAP) to serve the entire group. Citi (https://www.citigroup.com/) is involved in various digital money and tokenization projects.
Altin Hoxha, the lead for the platform, said it aims to “enable fast adoption of innovation and innovation which is in compliance with all these regulatory regimes around the world.”
Last year Citi launched its tokenized deposit solution, Citi Token Services (https://www.ledgerinsights.com/citi-tokenized-deposits-institutional-digital-assets/), with a cash solution for corporate treasury management and a trade solution. The cash side is live in the US and Singapore, enabling corporates to move money 24/7. Ledger Insights
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Banks are in the process of interfacing cryptocurrency platforms as portfolio options going forward.
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10 Best Crypto Friendly Banks in 2024 | Koinly
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Digital Future Launches to Advance the Digital Economy | PR Newswire
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Digital asset platforms have become much more efficient, Goldman Sachs CIO says | Youtube
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Do you see how Leveling the Playing Field works? 👇
China sanctions Lockheed Martin over Taiwan arms sales | TBS News
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Tweaks to the Old Traditional trading platforms are currently being installed to accommodate the new digital asset-based trading system. More on this tomorrow.
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Vietnam PM to attend WEF meeting.
“Chinh will attend the meeting in Dalian city, Liaoning province of China, and have working sessions from June 24-27.
The trip will be made at the invitation of Chinese Premier Li Qiang and WEF Founder and Executive Chairman Klaus Schwab.”
The World Economic Forum normally meets in January at Davos, Switzerland. Invitation only meetings are called on for special purposes with recognized countries able to influence the Global Economy are invited.
The economy of Vietnam is showing a reclassification of their Global Economy, and now, have the ability to participate in the new Global shifts coming our way.
Interestingly, Vietnam has been invited to the table as they approach their new identity as a Market Economy. VN Express WEF
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