Liminal Newsletter - March Edition

Hola,

As we come to the end of the first quarter of 2023, it's time for the third monthly newsletter by Liminal.

From Bitcoin surging to break the high-point since June 2022, to SEC's claims regarding crypto exchanges and SVB's collapse, a lot has happened since our last newsletter and its about time we throw some light on the prominent events from the past month.

So, without further ado, let's dive in!

SEC Attacks Crypto Exchanges Custodianship

The US Securities and Exchange Commission address the entourage of digital assets in direct take towards Crypto Exchanges being unqualified custodians. As we still struggle with lack of clear regulations enforcing digital assets and their secure custody, SEC Chair Gensler, authoritatively spoke about the backing of Congress to drive a potential change in existing custodial regulations for SEC.

Brazil's Central Bank Introduces Experimental CBDC

Brazil's Central Bank launched its pilot project powering digital currency on 6th March, looking to reproduce the success story achieved by instant payment systems, Pix. The coordinator of the project, voiced his expectation of public use of the CBDC around the concluding months of 2024 and the real adoption to transpire after an extensive phase of testing and feedback evaluation.

UK Plans To Implement "Tough" Crypto Regulations

As per UK's FCA, they plan to bring in new and tough regulation for cryptocurrencies under their new financial services law. Identifying a need to detoxify crypto and protect consumers, bringing in new regulatory standards to mimic the toughness of traditional financial industry.

Silicon Valley Bank Collapse

America's one of the biggest bank, known especially for its strong tie-ups with startups and tech venture capitalist, closed down pertaining to a series of unplanned and unprecedented market materialisation. SVB was holding assets upwards of $209 billion and $175 billion in deposits. With a poor risk management strategy in place, deep investment in US treasury bonds, their rate

down-falling after interest rate hike led SVB into a spiral ultimately leading to second-biggest bank failure in US history in a matter of days.

Alright, folks, let's put the crypto world on hold because it’s time for a splash of Liminal news!

Liminal Becomes Second Custody Provider To Be Accredited With CCSS Level-3 Certificate

Marking our biggest win of the year, we are stoked to share that our extension as a custody-provider grew immensely after being accredited with one of the most prestigious certifications for custody provider. CryptoCurrency Security Standard (CCSS) is a renowned certification keen on establishing security standards for digital assets, that access protocols based on their security measures and infrastructure. Liminal has been granted CCSS Level-3 certification, making us a Quality Service Provider for custody and security for crypto-native enterprises and institutions looking to integrate digital assets.

Liminal Partners With CODE To Empower Travel Rule Compliance

At Liminal, we factor in the major security and compliance measures, and Travel Rule formulates a key compliance component, essentially for Virtual Asset Service Providers (VASPs). Along with CODE, which is a Korea-based travel rule and compliance solution provider, to facilitate a comprehensive set of standards integrated right into our clients to monitor transaction amounts above a certain threshold to follow up, and share the senders the information to the next institution. CODE will enable the Travel Rule compliance that meets all international regulations and will lengthen the offerings at Liminal.

Liminal Present At Paris Blockchain Week

With the most prestigious events of the year, we made sure that we are present at the biggest get-together of the blockchain industry. Our VP of Sales and BD David Lee and BD Director-UK Adam Parnell will be there spreading the tales of Liminal and how we are progressing towards a self-custody era. If you are present at the event don't forget to meet them and explore the possibility of adding an extra layer of security and compliance to your protocol.

Join Our LinkedIn Live On 24th March, 2023

Following our most anticipated launch of this year, Liminal Vaults Mobile app, we are bringing the minds behind all this, our Founder Mahin Gupta and SVP of Technology Dhruvil Shah, are coming live on LinkedIn Live to talk all about it and how we perceive it will create a new beginning of security and custody standards as we add mobility of managing wallets simply and efficiently.

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