cryptocurrency insurance News

EU Seeks Agreement on Ground-Breaking Regulations for Crypto Assets

The European Union on Thursday will seek agreement on ground-breaking rules for regulating crypto assets as the rout in bitcoin piles pressure on authorities to rein in the sector. Globally, crypto assets are largely unregulated, with national operators in the …

Lloyd’s Broker Superscript Offers Insurance for Crypto, Digital Asset Businesses

Lloyd’s broker Superscript has launched a dedicated product for distributed ledger technology (DLT), digital asset, and blockchain businesses. The product, named Daylight, will help digital asset businesses secure insurance and manage risks more easily. Daylight uniquely combines cutting-edge machine-learning technology …

Cops Struggle to Keep Up With ‘Staggering’ Levels of Crypto Seizures

One spring day in a village just west of London, residents saw a man being muscled into a car in front of a nearby house. He reappeared with cuts and bruises 13 hours later, but the cops had already discovered …

Hong Kong-Based Digital Assets’ Insurer Weighs SPAC, Partners With Munich Re

OneDegree, a Hong Kong-based insurer of digital assets, has been approached by investment banks about going public through a blank-check company, its co-founder said. The firm, one of four with a so-called virtual insurer license in Hong Kong, expects to …

Bank of England Begins Developing Regulatory Framework for Cryptoassets

The Bank of England on Thursday began sketching out Britain’s first regulatory framework for cryptoassets, saying that although the sector remained small, its rapid growth could pose risks to financial stability in future if left unregulated. Cryptoassets have come under …

Crypto Platform Wormhole Says ‘Funds Are Safe’ After Hackers Steal $320M

Cryptocurrency platform Wormhole said on Thursday that “all funds are safe” after hackers stole more than $320 million from its site in the fourth-largest crypto heist on record. Wormhole, which allows the transfer of information from one crypto network to …

Crypto Exchange Binance Builds $1B Insurance Fund After Industry’s Recent Hacks

Binance Holdings Ltd. has built up a $1 billion insurance fund for its users amid a barrage of hacks on cryptocurrency trading platforms, according to a memo. Binance, the world’s largest crypto exchange by trading volume, has been earmarking money …

Hackers Seize $80M of Digital Assets From Qubit in Latest DeFi Attack

More than $80 million of digital assets were swiped from a decentralized finance platform in the latest hack of cryptocurrency trading marketplaces. A blockchain extension by Qubit Finance, a DeFi lending firm, was exploited by a hacker on Thursday night, …

UK Financial Watchdog to Curb Marketing of Cryptoassets, Other High-Risk Investments

Britain’s financial watchdog said on Wednesday it planned to curb the marketing of cryptoassets and other high-risk investments, a move that comes amid a boom in crypto ads and endorsements from celebrities. The changes would strengthen risk warnings on ads …

Cryptocurrency Crime Hit Record $14 Billion in 2021: Research

Crime involving cryptocurrencies hit an all-time high of $14 billion last year, blockchain researcher Chainalysis said on Thursday, a record that comes as regulators call for more powers over the fast-growing sector. Crypto received by digital wallet addresses linked to …