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Crypto

U.S. SEC begins overhaul of crypto custody rules, may lower barriers for institutions

The U.S. Securities and Exchange Commission has issued a proposed revision to crypto custody rules for investment advisers and regulated funds. The plan would allow self-custody of crypto under certain conditions and permit state-chartered trust companies to serve as custodians for client and fund assets. The SEC said it will update legacy custody rules to fit current market structure and will take public comments for 60 days after publication in the Federal Register.

AI & Enterprise

Hecto Innovation introduces stablecoin-based infrastructure for foreign patient hospital bills and trade payments

Hecto Innovation will take part in AI Festa 26, held in Seoul from Oct. 6 to 8 under the theme “AI, Becoming Reality. AI for Everyone.” It will run a booth focused on “24/7 stablecoin infrastructure” spanning foreign patient hospital bill payments and corporate trade remittances. The company plans to introduce models for using digital assets while complying with regulations such as AML and KYC, based on acceptance of its Hecto Wallet One VASP filing.

Crypto

European exchange 21bitcoin starts paying interest on idle euro balances, paid in bitcoin

European crypto trading platform 21bitcoin has started paying 1.21 percent annual interest on uninvested euro balances left in customer accounts. Users can receive the interest in bitcoin without separate currency conversion fees. The interest is paid by German bank Volksbank Raiffeisenbank Bayern Mitte eG, which holds a stake in 21bitcoin, with customer funds kept in segregated trust accounts. The rate is variable and subject to German withholding tax.