Taurus links digital asset platforms to Swift’s blockchain ledger
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StanChart, HSBC execute first live transaction on Swift blockchain ledger
The transaction connected the banks’ separate tokenized deposit systems through Swift’s ledger, marking a step toward interoperable, 24/7 cross-border payments.
Vanguard Group establishes its first head of digital assets position
According to Mars Finance, on July 8th, Vanguard Group, the world's second-largest asset management company (managing approximately $12 trillion in assets), created its first Head of Digital Assets position, responsible for developing the company's long-term crypto and blockchain strategy. This role will assess areas such as tokenization, stablecoins, digital wallets, custody, and blockchain settlement, and determine whether Vanguard should build its own capabilities, partner with external entities, or postpone entry into certain markets. The position requires developing multi-year roadmaps and designing governance and risk frameworks. Vanguard stated that this hiring does not indicate an upcoming launch of crypto products and currently has no plans to issue its own crypto investment vehicles.
Asset management giant Vanguard is hiring its first head of digital assets to evaluate strategies including tokenization and stablecoins.
PANews reported on July 8th that, according to Bitcoin Magazine, Vanguard, the world's second-largest asset manager (with approximately $12 trillion in assets under management), has created its first-ever Head of Digital Assets position, responsible for developing the company's long-term crypto and blockchain strategy. This role will evaluate areas such as tokenization, stablecoins, digital wallets, custody, and blockchain settlement, and determine whether Vanguard should build its own capabilities, partner with external entities, or postpone entry into certain markets. The position will involve developing multi-year roadmaps and designing governance and risk frameworks. Vanguard stated that this hiring does not indicate an upcoming launch of crypto products and that it currently has no plans to issue its own crypto investment vehicles.
Naver's $9.9 billion stock swap deal with Dunamu has been delayed again until the end of the year, while South Korea's digital asset law remains unresolved.
According to BlockBeats, on July 7, Naver Financial and Dunamu postponed the completion date of their full share swap transaction to December 31, marking the second delay in the deal. The deal to merge Dunamu, the operator of South Korea's largest crypto exchage Upbit, into Naver's financial sector was originally scheduled to close on September 30. Dunamu disclosed a new timeline on the 6th through corrections to its initial filing last November, but incomplete digital asset legislation and pending antitrust reviews remain major uncertainties. The company has postponed its extraordinary general meeting of shareholders from August 18 to November 19, and the shareholder confirmation date has been reset to October 22. Several government approvals are still required before the transaction can be completed, including approval from the Korea Fair Trade Commission (FTC) for the merger, approval for the change of Naver Financial's largest shareholder under credit information regulations, and acceptance of the filing for the change of Dunamu's largest shareholder under specific financial transaction information laws. Dunamu stated that progress at any of these stages could further extend the timeline or even cause the transaction to change. Dunamu also pointed out that the Digital Assets Basic Law, currently under consideration in Congress, is a real variable affecting the progress and outcome of transactions. As this bill is being enacted, regulators are also simultaneously considering implementing bank-style no-fault liability rules for exchanges, requiring platforms to compensate users for losses caused by hacker attacks.
Video | U.S. SEC Chairman Paul Atkins: Providing Regulatory Certainty for Digital Asset Issuers
On June 30, Paul Atkins, Chairman of the U.S. Securities and Exchange Commission (SEC), stated at the Economic Club of New York that the United States is responding to the Trump administration's call to become the "crypto capital of the world." Through a new "crypto initiative," the SEC will accelerate the updating of its digital asset regulatory framework, clarifying which crypto assets are securities and whether they fall under SEC jurisdiction, providing clearer regulatory boundaries for issuers, investors, and entrepreneurs. Crucially, the SEC has signed a historic memorandum of understanding with the CFTC, attempting to unify key definitions and coordinate regulatory responsibilities. The crypto industry has long been plagued by ambiguous regulations and overlapping oversights; now, the U.S. is attempting to transform this "regulatory no-man's land" into fertile ground for market-driven blockchain and crypto innovation.
UK House of Lords backs mandatory digital asset strategy over Labour position
The amendment would require the UK Treasury to develop a strategy covering cryptoassets, stablecoins, tokenized securities and digital financial infrastructure.