ECB proposes banning polluting crypto-assets, BMW experiments with Metaverse – Top news of the week

A lot has happened over the past week – both in the European crypto and blockchain space and around the world. Here you can read the latest news at a glance.

Local:

The Swiss bank SEBA forms an alliance with its Hong Kong partner HashKey Group.

Both companies aim to develop different solutions for institutional investors looking to enter the crypto ecosystem. Both companies said they were committed to following the rules, taking into account the different legal frameworks in their countries.

ECB board member proposes banning tokens with “significant ecological footprint”.

The EU has previously rejected a comprehensive ban on mining, but upcoming regulations on crypto asset markets (MiCAs) may require crypto firms to report potential environmental impacts.

BMW is heading for the Metaverse.

The German automaker apparently wants to get more involved in the Metaverse and show its presence there. The company has already secured the rights to use the logos, media and 3D graphics of virtual vehicles, BMW-branded apparel and footwear in the metaverse.

Geneva-based private bank Syz offers custody and trading of cryptocurrencies.

As the bank announced in a statement, the “Syz Crypto” offering supports four cryptocurrencies Bitcoin (BTC), Ethereum (ETH), Polygon (MATIC) and Chainlink (LINK).

And what about bitcoin?

Will Bitcoin have a “Christmas rally” by the end of the year or will it ring in the new year with losses? Cointelegraph highlights five aspects to watch for the direction of BTC/USD.

The FTX drama continues:

  • Shortly before FTX went bankrupt, Sam Bankman-Fried offered Taylor Swift a $100 million deal.

  • Sam Bankman-Fried could face prison for the FTX bust.

  • FTX Japan gets a three-month extension to shut down operations.

  • US authorities are investigating whether SBF triggered the Terra/LUNA collapse.

  • Elon Musk and the Citizens for Responsibility and Ethics in Washington (CREW) accuse SBF of political donations.

  • Gate.io is setting up a $100 million bailout fund for the crypto industry.

What’s new?

  • The Spanish central bank wants to carry out tests on wholesale CBDCs.

  • Hong Kong wants to regulate crypto exchanges as strictly as banks.

  • Ripple files final motion in court against SEC.

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