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Charles Schwab Eyes Spot Crypto Trading Once Regulations Change

Livemint

Livemint · 9m ago

Charles Schwab Eyes Spot Crypto Trading Once Regulations Change

Charles Schwab's incoming CEO, Rick Wurster, has revealed the firm's plans to offer spot cryptocurrency trading once US regulations become more favorable, which is anticipated to happen under President-elect Donald Trump's administration. Schwab already offers crypto-linked ETFs and futures, but Wurster believes that the regulatory landscape will change, leading to a potential for spot crypto trading. The competition for retail investors' dollars has intensified during the pandemic and after the US presidential election, with Schwab facing challenges from Robinhood and Webull, among others. Wurster also mentioned the significant impact of artificial intelligence on the wealth-management business.

Related News

StanChart launches bitcoin, ether spot trading for institutional clients - The Economic Times

Economic Times

Economic Times · 1m ago

StanChart launches bitcoin, ether spot trading for institutional clients - The Economic Times

Standard Chartered has launched spot trading for bitcoin and ether through its UK branch, catering to institutional clients like corporates, investors, and asset managers. This move is to meet the growing demand for crypto assets. As the first global systemically important bank to offer secure, regulated, scalable access to bitcoin and ether spot trading, StanChart plans to introduce non-deliverable forwards trading soon. The initiative ensures digital asset trading within regulatory requirements.

Why are Indian traders flocking to crypto futures over spot deals?

Economic Times

Economic Times · 3d ago

Why are Indian traders flocking to crypto futures over spot deals?

Indian traders are increasingly favoring crypto futures over spot deals, with futures volumes surpassing spot trading across local exchanges. This shift is driven by potential profits, lower taxes compared to high TDS on spot transactions, and the appeal of high leverage, allowing traders to bet big with minimal funds. Domestic platforms accepting Indian rupees as margins and converting them to stable coins like USDT for global trading access further fuels this trend.

Traders' new fancy: Crypto F&O

Economic Times

Economic Times · 1y ago

Traders' new fancy: Crypto F&O

Indian traders are increasingly investing in cryptocurrency futures and options (F&O) as major exchanges witness a surge in volumes. Vommafi Technology, a trading firm backed by family offices, has allocated 30% of its portfolio to crypto F&Os. However, regulatory uncertainty remains regarding the taxation of these offerings, as investors seek to avoid the 1% TDS imposed by the government on crypto spot trading. Despite this, Indian exchanges are expected to exceed global derivatives trading volumes if more traders start allocating capital to crypto futures. The challenge lies in the regulatory ambiguity and tax implications surrounding crypto F&Os.

Indian Cryptocurrency Market Sees Resurgence On Bitcoin’s All-time High Rally

Inc42 · 1y ago

Indian Cryptocurrency Market Sees Resurgence On Bitcoin’s All-time High Rally

The demand for cryptocurrencies has surged in India, with trading volumes on major exchanges increasing significantly. Bitcoin reached all-time highs of $72,000 and $73,000, attracting new investors. Indian crypto platforms are offering incentives to attract new users, and homegrown platform Mudrex has launched Bitcoin spot ETFs for Indian investors. CoinSwitch claimed to have become the first Indian exchange to surpass 2 million users, while CoinDCX and WazirX also noted significant growth in trading volumes. However, industry leaders are calling for balanced regulation to control outgoing crypto transactions.

WazirX Eyes 'Panama' for Fresh Start After Revival Plan Rejected in Singapore

OutlookIndia

OutlookIndia · 2m ago

WazirX Eyes 'Panama' for Fresh Start After Revival Plan Rejected in Singapore

Crypto exchange WazirX faced a major setback as the Singapore High Court rejected its restructuring plan after a $235 million cyber heist. The court cited regulatory lapses, and despite creditor backing, the proposal was dismissed. In response, WazirX plans to relocate operations to Panama through Zensui Corporation to bypass stringent Singapore regulations. The move comes after North Korean hackers allegedly stole a significant portion of the exchange's crypto reserves, prompting discussions on cybersecurity in the crypto sector.

Asia emerges as a promising haven amid the crypto winter

Startup News FYI

Startup News FYI · 1y ago

Asia emerges as a promising haven amid the crypto winter

The Asian crypto industry is thriving despite a crypto "winter" in the US. The recent Token2049 crypto conference in Singapore saw a record turnout, highlighting the growing enthusiasm and adoption of cryptocurrencies in Asia. With the US government cracking down on crypto companies, many projects are shifting their focus to Asia. The region's favorable policies, such as Hong Kong legalizing retail crypto trading and Singapore clarifying stablecoin regulations, have attracted web3 startups and investors. Asian markets offer growth opportunities and a more stable regulatory environment for crypto ventures.

Binance, SEC request pause in legal battle as Trump's crypto policy takes shape

Economic Times

Economic Times · 6m ago

Binance, SEC request pause in legal battle as Trump's crypto policy takes shape

Binance and the US SEC have requested a 60-day pause on the lawsuit against Binance, influenced by a new task force on crypto regulations. This pause indicates a shift towards a more crypto-friendly approach under President Trump's administration. The SEC had previously sued Binance over accusations related to trading volumes and customer funds. The task force, led by Commissioner Hester Peirce, aims to improve the regulatory climate for the crypto industry.

US banks tiptoe toward crypto, awaiting more green light from regulators

Economic Times

Economic Times · 3m ago

US banks tiptoe toward crypto, awaiting more green light from regulators

Major U.S. banks are cautiously exploring expansion into cryptocurrencies amidst regulatory shifts. While some, like JPMorgan, remain skeptical, others are planning limited pilot programs and potential partnerships with crypto firms. Banks seek clearer regulations, especially regarding anti-money laundering and market-making for digital assets. Regulatory changes have eased some restrictions, encouraging interest in custody services and crypto trading. Overall, banks are treading carefully, eager for concrete guidelines before fully committing to the crypto space.

Japan to give crypto assets legal status as financial products, Nikkei says

Economic Times

Economic Times · 5m ago

Japan to give crypto assets legal status as financial products, Nikkei says

Japan's Financial Services Agency (FSA) intends to amend the Financial Instruments and Exchange Act to classify crypto assets as legal financial products. This revision will subject crypto assets to insider trading regulations, preventing trades based on undisclosed internal information. The FSA plans to present a bill to parliament by 2026 to enact these changes, according to the Nikkei business daily. This move aims to enhance regulatory oversight and investor protection in Japan's crypto market.

Bitcoin back on the rise after vaulting to new record

Reuters · 1y ago

Bitcoin back on the rise after vaulting to new record

Bitcoin rallied again, reaching an intraday peak of $66,540 during Asian trading hours. This comes just a day after it set a new all-time high of $69,202. The surge in bitcoin's value has been fueled by increased investment in U.S. spot exchange-traded crypto products and expectations of lower global interest rates. The approval of 11 spot bitcoin ETFs by the U.S. SEC in January has also contributed to the positive sentiment, with institutional investors now showing interest in the cryptocurrency. However, the volatile nature of bitcoin is still a concern for some investors.

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