Plume secures Bermuda license for what it calls first regulated onchain vault manager
Plume secured a Bermuda Class M digital asset license for its onchain vault manager subsidiary, positioning itself as the first regulated player in this emerging infrastructure space. The license enables secure custody and asset management services on blockchain networks. This regulatory clarity could attract institutional capital to onchain finance, benefiting India's crypto ecosystem as major platforms expand regulated offerings.
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EU opens MiCA consultation to review if crypto framework is still fit for purpose
The European Commission launched a consultation on its MiCA crypto framework, seeking feedback on whether regulations remain suitable as digital asset markets evolve. The consultation runs until August 31, inviting responses from industry and public stakeholders. MiCA, enacted in 2023, became fully applicable in December 2024. The review addresses rapid market changes and shifting international regulatory landscapes since the framework's inception.
South Korean funeral company reveals $33 million loss on leveraged ether ETF bet
South Korean funeral company Bumo Sarang disclosed a $33 million unrealized loss from leveraged ether ETF investments, specifically the T-REX 2X Long BMNR Daily Target ETF targeting 200% daily performance. The loss reflects growing South Korean appetite for high-risk crypto trading products and broader crypto market volatility. Leveraged ETFs amplify both gains and losses, making them extremely risky for retail investors.