The UK’s Financial Conduct Authority (FCA) launched a new consultation last week seeking feedback on proposals to govern how crypto firms do business in the country. The consultation focuses on how firms offering cryptoasset services should meet requirements around consumer protection, conduct standards and regulatory oversight. It forms part of the FCA’s wider crypto roadmap, which aims to align the treatment of cryptoassets more closely with traditional financial services. “These proposals continue ou ...

Jefferies, a Wall Street investment bank, said maturing blockchain infrastructure and incremental regulatory progress are laying the groundwork for a new wave of tokenization by institutions in traditional finance (TradFi). Broad adoption, however, depends on having clear U.S. market structure rules, it said. The bank pointed to the draft Digital Asset Market Clarity Act as the most detailed blueprint yet for how blockchain-based financial infrastructure could develop, even though hurdles remain in its p ...

As Congress debates crypto market structure legislation, one issue has emerged as especially contentious: whether stablecoins should be allowed to pay yield. On one side, you have banks fighting to protect their traditional hold over consumer deposits that underpin much of the U.S. economy’s credit system. On the other side, crypto industry players are seeking to pass on yield, or “rewards,” to stablecoin holders. On its face, this looks like a narrow question about one niche of the crypto economy. In r ...

Core Insights - The VanEck Bitcoin ETF (HODL) and Bitwise Crypto Industry Innovators ETF (BITQ) provide different access to the crypto economy, with HODL offering direct Bitcoin price exposure and BITQ investing in companies within the crypto ecosystem [1] Cost & Size - HODL has an expense ratio of 0.25% and assets under management (AUM) of $1.4 billion, while BITQ has a higher expense ratio of 0.85% and AUM of $438.21 million [2][3] Performance & Risk Comparison - Over a two-year period, HODL experienced a maximum drawdown of -93.68% and a growth of $1,000 to $482, whereas BITQ had a maximum drawdown of -51.22% and grew $1,000 to $2,023 [4] Composition - BITQ holds 37 companies, primarily in financial services, technology, and consumer cyclical sectors, with major positions in IREN Ltd., Coinbase, and Strategy Inc., providing diversified exposure to the crypto economy [5] - HODL's portfolio consists solely of Bitcoin, making its returns and volatility directly tied to Bitcoin's price [6] Investor Implications - HODL presents higher risk due to its direct exposure to Bitcoin and shorter market presence, while BITQ offers a less volatile investment through its stock holdings, although these are still influenced by the crypto market [7][9]

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. David Sacks, the Trump administration's AI and crypto czar, has predicted that banks will become fully involved in the crypto industry, paving the way for a unified digital assets sector. The prediction comes as legislation on crypto market structures stalls over whether third-party platforms can offer rewards programs to stablecoin users. Banks argue such programs bypass yield restrictions, while crypto fi ...

Core Insights - Ledger is preparing for a US IPO, potentially valuing the company at over $4 billion, more than double its 2023 valuation [4] - The company has hired major investment banks, including Goldman Sachs, Barclays, and Jefferies, to assist with the IPO process [4][6] - Ledger is rebranding from "hardware wallet" to "signers" to position itself as a key player in the "Internet of Value" [7] Company Overview - Ledger has emerged as a popular hardware wallet provider, allowing users to self-custody their crypto assets securely [1] - The company experienced a significant increase in revenue, reaching triple-digit millions in 2025 [6] Industry Context - The US regulatory environment for crypto has become more favorable, particularly after the approval of the GENIUS Act in July 2025 [5] - The planned IPO comes at a time when investors are seeking exposure to crypto infrastructure without the volatility associated with holding cryptocurrencies [8]

Vietnam began accepting applications for crypto exchange licenses on Jan. 20 under a new pilot program. The move makes official a market that has operated in a legal gray area for years. The Ministry of Finance issued new procedures on Jan. 20 covering license issuance, amendment, and revocation, according to the State Securities Commission. Applications with complete documentation can be processed within 30 days. However, the full review includes IT security certification from the Ministry of Public Se ...

Crypto entrepreneur and billionaire Mike Novogratz's firm Galaxy is launching a $100 million hedge fund in the first quarter of this year that will take both long and short positions, as Bitcoin tumbles from its October peak and trade tensions rattle crypto markets. The fund will invest up to 30% of its assets in crypto tokens, and the remainder in financial services stocks that Galaxy believes will be affected by changes in digital asset technologies and laws, according to a Financial Times report. The ...

Core Viewpoint - Trump Media and Technology Group is planning to distribute new digital tokens to shareholders, with a record date set for February 2, indicating a strategic move to integrate cryptocurrency into its business model [1][4]. Group 1: Token Distribution Details - The tokens will not represent ownership in Truth Social or any other company, and they are not expected to be transferable or exchangeable for cash [2]. - Shareholders must own at least one full share to be eligible for the token distribution, and they are advised to check their brokerage status to avoid delays [3]. Group 2: Purpose and Integration of Tokens - The company has not disclosed specific details about the purpose of the tokens, but it aims to integrate cryptocurrency across its businesses, including fintech brand Truth.Fi and prediction market Truth Predict [4]. - The tokens will be minted in partnership with Crypto.com, utilizing the Cronos blockchain, and may offer discounts on Trump Media products [5][6]. Group 3: Regulatory Compliance and Lobbying - Trump Media's CEO stated that the use of Crypto.com's blockchain complies with SEC regulations, following the closure of an investigation into Crypto.com by the SEC [7]. - Crypto.com's parent company, Foris DAX, has engaged in significant lobbying efforts, spending $2.8 million last year, and has made political donations supporting Trump's re-election campaign [7].