Standard Chartered launches Luxembourg entity as EU hub for digital asset custody under MiCA regulation

Standard Chartered has opened a new entity in Luxembourg to serve as its EU regulatory entry point for crypto and digital asset custody services, aligned with the MiCA regulation. This move is part of its broader digital asset strategy, following similar initiatives in the UAE. Laurent Marochini, formerly of Société Générale, has been appointed CEO of the Luxembourg entity. The bank aims to provide secure and regulated digital asset services to meet growing EU client demand.

DOJ cleared to sell Silk Road Bitcoin after court rejects $6.5B claim, sparking investor concerns

The Department of Justice has been cleared to sell tens of thousands of Bitcoins seized in 2020 from an anonymous hacker connected to the Silk Road darknet platform. A federal judge rejected a motion by Battle Born Investments, which claimed rights to $6.5 billion worth of Bitcoin, ending a prolonged legal battle. While it is not mandated, the U.S. government typically auctions off such assets through the U.S. Marshals Service, often staggering sales to avoid market disruption. Investors remain cautious as government movements in crypto wallets signal potential sales. Meanwhile, political discourse around a strategic Bitcoin reserve has been reignited, with Donald Trump advocating for retaining and increasing federal Bitcoin holdings.

Court blocks £600m Bitcoin recovery attempt from Newport landfill, citing no legal grounds

James Howells, who has been fighting to recover a hard drive containing £600m worth of Bitcoin lost in a Newport landfill in 2013, has had his legal case dismissed by a high court judge. The judge ruled that Howells’s claim had no realistic chance of success, siding with Newport City Council’s argument that the hard drive became their property upon entering the landfill. The council also cited environmental regulations preventing excavation. Howells had offered a profit share to the council and proposed a targeted search by experts but now faces significant legal barriers to pursuing further action.

Circle Donates $1M USDC to President Trump’s Inaugural Committee, CEO Highlights Digital Dollar Progress

Circle CEO announced on 𝕏 that the company has donated $1 million in USDC to President Trump’s Inaugural Committee, showcasing the growing role of digital currencies in mainstream finance. He emphasized that the Committee’s acceptance of USDC as payment reflects the progress and potential of digital dollars in transforming financial transactions.

USDC, a stablecoin tied to the US dollar, continues to gain traction in institutional settings, with Circle’s contribution underscoring its vision of bridging traditional finance with the digital asset ecosystem. This move comes amid increasing discussions on the future of digital currency regulation in the U.S.

Resources:

Standard Chartered

Fortune

The Guardian

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