Bidzina Ivanishvili Plans Legal Action Against Julius Baer Bank

Bidzina Ivanishvili, the Georgian billionaire and former prime minister, is suing Bank Julius Baer, claiming “political blackmail” after the bank threatened to close his accounts due to his status as a politically exposed person (PEP). His lawyer alleges the bank withheld account information related to hedge fund investments and misinterpreted US sanctions against him. Ivanishvili seeks legal action to enforce the bank’s obligations and obtain compensation.

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US Sanctions Impact Georgian Billionaire’s Lawsuit Against UBS and Credit Suisse

Georgian billionaire Bidzina Ivanishvili is suing UBS over alleged embezzlement by his former advisor, Patrice Lescaudron, who mismanaged around 800 million francs. Recently sanctioned by the US for undermining Georgia’s Euro-Atlantic integration, Ivanishvili’s claims may face delays in enforcement. While a Singapore court ordered UBS to pay USD 461 million, the Bermuda case remains pending, with Credit Suisse previously fined over 600 million dollars for inadequate fraud prevention measures.

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HashKey Receives Dubai Virtual Asset License to Expand Global Operations

HashKey Group has received in-principle approval for a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority, marking a significant step in its expansion into the MENA region. This provisional approval is part of HashKey’s strategy to enhance its global presence and comply with stringent regulatory standards. Once fully licensed, the firm will offer Virtual Asset Exchange and Broker-Dealer Services, catering to institutional and qualified retail investors, while also boosting its over-the-counter trading capabilities in the region.

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HashKey Receives VASP License from Central Bank of Ireland for Expansion

HashKey has secured a Virtual Asset Service Provider (VASP) license from the Central Bank of Ireland, enabling it to offer a variety of crypto services, including fiat-to-crypto and crypto-to-crypto trading. This move marks HashKey’s entry into the EU’s regulated crypto market and aligns with the Markets in Crypto-Assets (MiCA) Regulation, which emphasizes innovation and regulatory oversight. The company aims to establish a strong presence in Europe, joining other major players like Ripple and Coinbase in the region.

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HashKey Europe Secures VASP License in Ireland Under MiCA Framework

HashKey Europe has secured a Virtual Asset Service Provider license from Ireland’s Central Bank, enabling it to offer regulated crypto services in line with the MiCA framework and AMLD5 compliance. This milestone supports the company’s global expansion and aligns with Ireland’s commitment to fostering secure financial innovation. Derville Rowland emphasized MiCA’s role in standardizing EU practices and enhancing the authorization process for crypto firms.

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HashKey Secures VASP License in Ireland Under MiCA Regulations

HashKey Europe has secured a virtual asset service provider (VASP) license from the Central Bank of Ireland, enabling it to offer various crypto services, including fiat-crypto exchanges and custodial wallet services. This approval aligns with the EU’s MiCA regulations, which mandate crypto service providers to register for compliance with Anti-Money Laundering measures. Ireland is seen as a key market for HashKey’s international expansion, complementing its existing licenses in Bermuda and several Asian countries.

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GRVT Receives Bermuda License to Integrate DeFi and CeFi Services

Hybrid crypto exchange GRVT has secured a Class Modified (M) Digital Asset Business License from the Bermuda Monetary Authority, allowing it to operate as a regulated decentralized exchange. This license enables the integration of decentralized finance (DeFi) with centralized finance (CeFi) under regulatory oversight, addressing institutional concerns about DeFi’s safety. GRVT plans to pursue a Class Full (F) license by mid-2025 to expand its services beyond a sandbox environment, having already established partnerships with 55 institutional clients and over 20,000 verified retail users.

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GRVT Becomes One of First Regulated DEXs with Bermuda License

Hybrid cryptocurrency exchange GRVT has secured a Class Modified (M) Digital Asset Business License from the Bermuda Monetary Authority, positioning itself as a regulated decentralized exchange (DEX). The company aims to obtain a Class Full (F) license by mid-2025, enhancing its operations beyond a sandbox environment. With 55 institutional partners and over 20,000 retail users, GRVT emphasizes the integration of decentralized and centralized finance, advocating for regulation to improve standards and user protection in the crypto space.

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Coinbase Plans to List More Meme Coins with Trump Administration Support

Coinbase plans to expand its token listings, including meme coins, anticipating a more favorable regulatory environment under the incoming Trump administration. VP Tom Duff Gordon noted that regulatory clarity would enable the exchange to engage with previously unsupported projects and tokens. Despite facing legal challenges from the SEC, Coinbase continues to diversify its revenue streams and has recently added popular meme tokens like Pepe and Floki Inu, resulting in significant price surges.

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Kraken to Launch Ink Blockchain in 2025 Enhancing DeFi Accessibility

Kraken is set to launch its “Ink” blockchain in Q1 2025, designed to enhance DeFi accessibility for both retail and institutional users without a native token. Built on Layer 2 using the OP Stack, Ink aims to improve scalability and interoperability, simplifying on-chain interactions and offering a user-friendly ecosystem for decentralized applications. With a dedicated team of 40, Kraken is positioning Ink as a competitive alternative to existing blockchains, inspired by the success of Coinbase’s Base and Binance’s BNB Chain.

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Kraken Launches kBTC to Enhance Bitcoin’s Utility in DeFi Ecosystem

Kraken has launched kBTC, a cross-network ERC-20 token fully backed 1:1 by Bitcoin, aimed at enhancing Bitcoin’s utility in decentralized finance (DeFi) on Ethereum and Optimism networks. With 100 BTC in reserves, Kraken ensures transparency through on-chain verification and secure custody. While no spot markets for kBTC are available at launch, users can convert kBTC back to Bitcoin anytime, paving the way for innovative use cases in the expanding Web3 environment.

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Bitcoin and Ethereum Rise as XRP Steady Ahead of Options Expiry

Bitcoin and Ethereum saw gains on Friday, with Bitcoin rising over 1.3% to $61,804 and Ethereum nearly 1.5% to just below $2,400. XRP remained steady above $0.5200 as traders awaited Ripple’s response to the SEC’s appeal regarding its lawsuit. Aptos (APT) showed potential for a rally, supported by positive momentum indicators, while Binance faced a 20% decline in trading volume. The IMF urged El Salvador to reconsider its Bitcoin policy, and over $1 billion in Bitcoin options expired, likely increasing market volatility.

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