#self-custody

➤ The Bitcoin Policy Institute is intervening in a New York lawsuit that seeks to claim ownership of dormant Bitcoin wallets as abandoned property. ➤ BPI argues that self-custodied Bitcoin should not be considered abandoned, regardless of inactivity, as it emphasizes user control over private keys. ➤ A ruling in this case could significantly impact digital property rights and the legal landscape of Bitcoin ownership, with the industry actively defending self-custody.

➤ Tokenized equities are bringing traditional stocks onto blockchain networks, enabling 24/7 trading, self-custody, and broader global access. ➤ Kraken xStocks, through its General Manager Val Gui, is facilitating this shift by offering tokenized stocks, including pre-IPO investments like SpaceX, backed one-to-one by underlying assets. ➤ The future roadmap includes international expansion and partnerships, aiming to enhance liquidity, price discovery, and the overall efficiency of on-chain capital markets.

➤ Binance co-CEO Richard Teng reported that 70% of EU user funds withdrawn after service suspension went to self-custody, not MiCA-regulated platforms. ➤ Teng questioned MiCA's effectiveness in reducing user risk if assets move to self-hosted wallets outside regulatory controls. ➤ Binance withdrew its Greek MiCA license application but plans to pursue licenses in Europe and Asia, citing expansion plans and existing licenses in several Asian countries.

➤ EURC experienced record daily active addresses and new wallet creation following the mandatory MiCA license implementation in the EU, indicating growing adoption of compliant stablecoins. ➤ Despite EURC's growth, a significant majority (70%) of users exiting Binance due to its lack of MiCA compliance opted for self-custodied wallets, bypassing regulated platforms. ➤ This trend raises questions about MiCA's effectiveness in achieving consumer protection goals, as the majority of affected funds moved outside the framework's oversight, suggesting partial acceptance of the regulated lane.

➤ Kresus has launched a new service, Kresus Inheritance, to address the challenge of passing on self-custodied digital assets after death. ➤ The service allows users to designate beneficiaries for their cryptocurrency holdings without sharing private keys, ensuring secure legacy planning. ➤ This initiative aims to bridge the gap between the growing number of crypto owners and the lack of traditional wealth management infrastructure for digital assets.

➤ The Digital Chamber has filed an amicus brief urging a New York court to dismiss a lawsuit seeking ownership of dormant Bitcoin wallets, arguing they should not be treated as abandoned property. ➤ The lawsuit, which targets 39,069 dormant Bitcoin addresses valued at approximately $234 billion, raises concerns about the legal classification of self-custody digital assets and could impact traditional finance. ➤ The case faces challenges due to some wallets showing renewed activity and the practical hurdle of private key possession for transferring control of the assets.

➤ BNB Chain has released a guide promoting self-custody for EU crypto users navigating new regulations under the Markets in Crypto-Assets (MiCA) framework. ➤ The guide emphasizes user responsibility for private keys, test transfers, and network fees, while highlighting access to DeFi services like stablecoins and tokenized RWAs. ➤ This initiative follows regulatory changes impacting exchanges like Binance and the delisting of USDT, prompting users to re-evaluate their crypto storage options.

➤ Ledger is offering a promotion with a 10% discount and up to $40 in Bitcoin for new hardware wallet purchases. ➤ This offer encourages users to move towards self-custody of their cryptocurrencies, especially after the MiCA regulation's full implementation. ➤ The promotion highlights Ledger's security features, including its Secure Element and Clear Signing, to protect private keys and transactions.