Crypto SWOT: Bitcoin briefly set a fresh 17-month high last week before retreating

Of the cryptocurrencies tracked by CoinMarketCap, the best performer for the week was ThorChain, rising 33.69%.

Hong Kong is set to allow primary dealing of tokenization by providing more guidance on tokenized securities-related activities, the Securities and Futures Commission announced on Thursday. The move appears to be another step in Hong Kong’s recently accelerated ambitions to become a virtual asset hub, writes Bloomberg.Of the cryptocurrencies tracked by CoinMarketCap, the worst performer for the week was Quant, down 10.54%.

Sam Bankman-Fried was convicted of massive fraud that led to the collapse of his FTX exchange, following a month-long trial that pitted the testimony of the former crypto king against that of some of his closest friends. Bankman-Fried was found guilty of seven counts of fraud and faces as much as 20 years in prison, according to Bloomberg.HSBC Holdings launched a platform that uses distributed ledger technology to tokenize ownership of physical gold held in its London Vault.

The Swiss National Bank will launch the pilot phase of its planned digital wholesale franc in December. The project, in collaboration with six commercial banks from Switzerland and Germany and the Swiss stock exchange, will entail issuing a digital Swiss franc on a blockchain using distributed ledger technology, writes Bloomberg.Taiwan police have busted what appears to be the country’s largest crypto related money laundering case.

Source: News Formal (newsformal.com)

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