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Kofi Ansah



Articles by Kofi Ansah

Crypto Firm Seba Bank Launches NFT Custody Despite Current Market Woes

October 26, 2022

The new NFT custody platform from Seba Bank is designed to let users securely store their NFTs without having to deal with managing their own private keys.Seba Bank has launched its first NFT service, an institutional-grade, certified, and independently audited hot and cold storage custody product for blue-chip NFTs.The new service will now enable the Swiss bank’s retail and institutional clients to store tokens of Ethereum-based NFT collections including Bored Apes and CryptoPunks in the bank’s new custodial service. The launch comes in response to requests from customers to keep their NFTs with the bank alongside other crypto assets, such as the already-approved Bored Ape Yacht Club, Cryptopunk, and Clone X NFTs. The bank stated that new collections will be added based on customer

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Prosecutors Seek 8-year Jail Term for Owner of Top South Korean Crypto Exchange Bithumb

October 25, 2022

Crypto exchange FTX is reportedly in talks to buy Bithumb. The legal issues connected to its former chairman will, however, hinder any possible sale.According to reports, Lee Jung-hoon, the de facto owner of the South Korean bitcoin exchange Bithumb, is now facing an 8-year jail sentence.The owner who is also a former chairman of Bithumb Holdings is accused of committing a large-scale fraud worth around 100 billion won ($70 million). Lee was indicted by South Korean prosecutors in July 2021 on charges of fraud under the Act on Specific Aggravated Punishments. Lee allegedly stole millions of dollars from Kim Byung Gun, chairman of the BK Group, in the process of acquiring the Bithumb exchange. The jointly registered  BTHMB consortium was scheduled to receive a 50% stake in the trading

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Ethereum Is Commodity, Says CFTC Chair

October 25, 2022

Behnam made this remark while speaking at the Regulating Financial Innovation event on October 24, where he added that he thinks Gary Gensler, chair of the SEC, thinks otherwise or at least hasn’t certainly declared one or the other.Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam has reaffirmed that Ethereum, the second-biggest cryptocurrency in the crypto market, is a commodity.Behnam made this remark while speaking at the Regulating Financial Innovation event on October 24, where he added that he thinks Gary Gensler, chair of the SEC, thinks otherwise or at least hasn’t certainly declared one or the other. On numerous occasions, Gensler has reportedly declined to speak about Ethereum’s regulatory status. However, back in 2018, when the former Goldman Sachs partner was

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Santander Proposes Project to Tokenize and Trade Assets with Brazilian CBDC

October 24, 2022

The objective of this project is to streamline the processes of transacting with different kinds of property through the platform.Santander, one of the biggest banking institutions in the world, has put out a proposal to broaden the scope of Digital Real’s potential usage as a central bank digital currency (CBDC) in Brazil.Santander is leveraging technology from another company, ParFin, to tokenize the ownership rights of the assets in a transaction and handle the exchange of the currency, in this case, the virtual currency, for the asset. The latest CBDC proposal from Santander is part of the LIFT challenge, a series of projects selected by the Central Bank of Brazil to find appropriate applications for the digital real, which is expected to debut in 2024.According to Jayme Chataque,

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