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Switzerland-based crypto bank Sygnum AG has secured over $40 million in a funding round led by asset manager Azimut Holding. The Zurich-headquartered crypto -friendly bank Sygnum AG is set to double down on its acquisition plans and expansion, with the latest funding round valuing the lender at about $900 million. In a blog post on Jan. 25, the bank said it has raised $41 million against an initial target of $35 million in an interim close of its latest funding round, which is named the Strategic Growth Round. News: Sygnum raises more than USD 40 million in interim close of oversubscribed financing round. Read the full announcement here: https://t.co/v2XD4duICY #fundrasing #sygnum — Sygnum Bank (@sygnumofficial) January 25, 2024 While Sygnum did not disclose the full list of backers, it noted that the latest funding was supported by new investors and led by Azimut Holding, a global asset management group. Sygnum employees — who also participated in the funding — together ...

The Financial Crimes Enforcement Network (FinCEN) published a notice of proposed rule making that would escalate the mixing of convertible virtual currencies to a “primary money laundering concern.” If implemented, these new and more stringent rules will impact not only dedicated tumblers like Tornado Cash but service providers that use basic privacy protocols like Bitcoin ’s coinjoin. FinCEN cited malicious actors’ use of crypto-mixing services to launder illicit proceeds. The bureau highlighted Hamas, Palestinian Islamic Jihad, Russian criminal groups, and the Democratic People’s Republic of Korea. The Palestinian Islamic Jihad, for example, recently received millions of Tron-based USDT. Hamas reportedly received some $450,000 in digital asset donations which Israeli authorities have since seized. The notice of proposed rule making explains FinCIN’s goals of greater compliance practices for coin mixers. It says heightened transparency will improve FinCIN’s ability to deny stat...

Shortly after the Turkish central bank completed the first CBDC tests, Türkiye announced a blockchain-based digital identity application. Türkiye, formerly known as Turkey, plans to use blockchain technology for online public services logins. e-Devlet, Türkiye’s digital Government portal used to access a wide range of public services , will use a blockchain-based digital identity to verify Turkish citizens during login. Fuat Oktay, vice president of the Republic of Türkiye, announced during the Digital Türkiye 2023 event that citizens will be able to use blockchain-based digital identity to access e-wallet application, Cointelegraph Turkey reported. Oktay called the blockchain-based application a revolution for e-government efforts, adding that online services will be more secure and accessible with blockchain. Users will be able to keep their digital information on their mobile phones. “With the login system that will work within the scope of the e-wallet application, our ci...