Latest news with #AndrewForson
CTV News
2 hours ago
- Business
- CTV News
GENIUS Act gives global crypto industry ‘clarity, simplicity,' says expert
Andrew Forson, President of DeFi Technologies, joins BNN Bloomberg to discuss the impact of new U.S. crypto laws. Sorry, we're having trouble with this video. Please try again later. [5006/404] Landmark cryptocurrency legislation signed into law by U.S. President Donald Trump last week gives the fast-growing global crypto industry new legitimacy while making it easier for investors to gain exposure to the sector in a safe way, an expert says. 'It gives clarity, simplicity and lets everybody understand what the rules of the playing field are,' Andrew Forson, president of Toronto-based DeFi Technologies, told BNN Bloomberg in an interview on Wednesday. 'That encourages innovation without fear of inadvertently triggering a securities law or breaking some sort of rule that would make it really, really difficult for the business to recover from.' The legislation, known as the GENIUS Act, is a major step toward legitimatizing the crypto industry in the eyes of the U.S. government through overarching rules and regulations. But the law's impact will reach far beyond American crypto markets, said Forson. 'The U.S. is without a doubt the largest capital market in the world, and whenever they provide a degree of regulatory clarity, it makes it easier for everybody worldwide,' he explained. The rise of cryptocurrency trading has led to increased demand from investors looking to gain exposure to the industry without taking on the risk and volatility it's historically been associated with. Crypto-linked exchange-traded funds (ETFs) have began popping up on exchanges around the world in recent months, offered by financial services companies like DeFi. 'DeFi Technologies and our wholly owned subsidiary Valour is probably one of Europe's most significant or prominent digital asset exchange-traded product (ETP) issuers,' Forson said. 'In particular, we have 78 digital asset-underlying ETPs listed on over eight exchanges throughout the world, and one of the big benefits of this is it makes it a lot easier for institutions and retail investors to gain exposure to digital assets in their investment portfolios.' Forson said he acknowledges that there will likely continue to be a certain amount of hesitancy towards cryptocurrency from some investors given the numerous instances of fraud in the industry over the years. The most notable example being the high-profile collapse of popular crypto exchange FTX in 2022, which led to fraud charges being brought against founder Sam Bankman-Fried. He eventually was found guilty and is currently serving a 25-year prison sentence. 'That actually is one of the reasons why DeFi… (is) so well positioned to help institutions and individuals gain real exposure to the digital asset space, with broad exposure across many, many digital assets beyond just bitcoin, in a safe and regulated manner,' said Forson. Shares in DeFi itself, which were changing hands at around US$3 per share in midday trading on Thursday, are cheaper than they should be, Forson argued, noting that the company is profitable and has many avenues for future growth. 'I can unequivocally say that we are undervalued. We should be trading at a higher multiple than we are… we are a profitable company, we actually make real money and (will) continue to do so into the foreseeable future,' he said. 'Just a few days ago, we hit the US$1 billion assets under management metric, which is always a nice threshold to reach, with the assets that are held by Valour, and DeFi Technologies itself is also involved in a number of other areas including a corporate venture capital portfolio.'
Yahoo
7 days ago
- Business
- Yahoo
US House sends "Genius Act" stablecoin bill to Trump to sign
(Reuters) -The U.S. House of Representatives on Thursday passed a bill to create a regulatory framework for U.S.-dollar-pegged cryptocurrency tokens known as stablecoins, sending the bill to President Donald Trump, who is expected to sign it into law. The vote marks a watershed moment for the digital asset industry, which has been pushing for federal legislation for years and poured money into last year's elections in order to promote pro-crypto candidates. Shares of crypto-related companies were mostly higher after passage of the bill, dubbed the Genius Act, that would expand the Commodity Futures Trading Commission's oversight of the industry. Bitcoin, the largest crypto currency, was down 0.54% at $119,298.87, trading near a record high reached earlier this week. Rival ethereum rose 1.42% to $3,429.47. COMMENTS ANDREW FORSON, PRESIDENT, DEFI TECHNOLOGIES (by email): 'It signals the start of a new era for digital assets and public companies. We're seeing an unprecedented wave of corporations embracing digital assets, diversifying beyond Bitcoin into Ethereum, Solana, and more. But for many institutions, education gaps and regulatory uncertainty have been real barriers.' 'By establishing clear, actionable rules for stablecoins and digital assets, the Genius Act unlocks broader adoption by traditional institutions and brings much-needed trust and transparency to the sector. This paves the way for compliant, bank-backed digital money and new solutions for corporate treasuries, helping to bridge the gap between innovation and investor protection.' DANTE DISPARTE, CHIEF STRATEGY OFFICER, CIRCLE, NEW YORK: 'The House vote to clear the GENIUS Act for the President's signature is a defining moment for the future of money and the internet financial system. It signals strong bipartisan support for responsible innovation and sends a clear message that the U.S. will lead in the regulation of dollar-backed payment stablecoins. We commend Congressional leaders for delivering a regulatory foundation that puts consumer protection, financial integrity, and U.S. competitiveness at the forefront.' SUMMER MERSINGER, CEO, BLOCKCHAIN ASSOCIATION (press release): 'The bipartisan passage of the GENIUS Act is a watershed moment for digital assets in the United States. For the first time, Congress has moved comprehensive legislation that provides enforceable, tailored rules for stablecoins — a foundational technology for the future of finance. This marks real momentum toward regulatory clarity that protects consumers, supports innovation, and reinforces the strength of the U.S. dollar in the digital economy. We now call on President Trump to swiftly sign the bill into law, ensuring that the United States continues to lead in shaping the global standards for digital assets.' MICHAEL JAMES, EQUITY SALES TRADER, ROSENBLATT SECURITIES, LOS ANGELES: "Crypto stocks have been strong the past two days in expectation that the bill, which didn't pass on Tuesday, would eventually get the necessary votes to pass, which it has done this afternoon. That is part of the reason that crypto stocks have been outperformers in the last two days." (Compiled by the Global Finance & Markets Breaking News team) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNA
7 days ago
- Business
- CNA
US House sends "Genius Act" stablecoin bill to Trump to sign
The U.S. House of Representatives on Thursday passed a bill to create a regulatory framework for U.S.-dollar-pegged cryptocurrency tokens known as stablecoins, sending the bill to President Donald Trump, who is expected to sign it into law. The vote marks a watershed moment for the digital asset industry, which has been pushing for federal legislation for years and poured money into last year's elections in order to promote pro-crypto candidates. Shares of crypto-related companies were mostly higher after passage of the bill, dubbed the Genius Act, that would expand the Commodity Futures Trading Commission's oversight of the industry. Bitcoin, the largest crypto currency, was down 0.54 per cent at $119,298.87, trading near a record high reached earlier this week. Rival ethereum rose 1.42 per cent to $3,429.47. COMMENTS ANDREW FORSON, PRESIDENT, DEFI TECHNOLOGIES (by email): 'It signals the start of a new era for digital assets and public companies. We're seeing an unprecedented wave of corporations embracing digital assets, diversifying beyond Bitcoin into Ethereum, Solana, and more. But for many institutions, education gaps and regulatory uncertainty have been real barriers.' 'By establishing clear, actionable rules for stablecoins and digital assets, the Genius Act unlocks broader adoption by traditional institutions and brings much-needed trust and transparency to the sector. This paves the way for compliant, bank-backed digital money and new solutions for corporate treasuries, helping to bridge the gap between innovation and investor protection.' DANTE DISPARTE, CHIEF STRATEGY OFFICER, CIRCLE, NEW YORK: 'The House vote to clear the GENIUS Act for the President's signature is a defining moment for the future of money and the internet financial system. It signals strong bipartisan support for responsible innovation and sends a clear message that the U.S. will lead in the regulation of dollar-backed payment stablecoins. We commend Congressional leaders for delivering a regulatory foundation that puts consumer protection, financial integrity, and U.S. competitiveness at the forefront.' SUMMER MERSINGER, CEO, BLOCKCHAIN ASSOCIATION (press release): 'The bipartisan passage of the GENIUS Act is a watershed moment for digital assets in the United States. For the first time, Congress has moved comprehensive legislation that provides enforceable, tailored rules for stablecoins — a foundational technology for the future of finance. This marks real momentum toward regulatory clarity that protects consumers, supports innovation, and reinforces the strength of the U.S. dollar in the digital economy. We now call on President Trump to swiftly sign the bill into law, ensuring that the United States continues to lead in shaping the global standards for digital assets.' MICHAEL JAMES, EQUITY SALES TRADER, ROSENBLATT SECURITIES, LOS ANGELES: "Crypto stocks have been strong the past two days in expectation that the bill, which didn't pass on Tuesday, would eventually get the necessary votes to pass, which it has done this afternoon. That is part of the reason that crypto stocks have been outperformers in the last two days."
Reuters
7 days ago
- Business
- Reuters
VIEW US House sends "Genius Act" stablecoin bill to Trump to sign
July 17 (Reuters) - The U.S. House of Representatives on Thursday passed a bill to create a regulatory framework for U.S.-dollar-pegged cryptocurrency tokens known as stablecoins, sending the bill to President Donald Trump, who is expected to sign it into law. The vote marks a watershed moment for the digital asset industry, which has been pushing for federal legislation for years and poured money into last year's elections in order to promote pro-crypto candidates. Shares of crypto-related companies were mostly higher after passage of the bill, dubbed the Genius Act, that would expand the Commodity Futures Trading Commission's oversight of the industry. Bitcoin , the largest crypto currency, was down 0.54% at $119,298.87, trading near a record high reached earlier this week. Rival ethereum rose 1.42% to $3,429.47. ANDREW FORSON, PRESIDENT, DEFI TECHNOLOGIES (by email): 'It signals the start of a new era for digital assets and public companies. We're seeing an unprecedented wave of corporations embracing digital assets, diversifying beyond Bitcoin into Ethereum, Solana, and more. But for many institutions, education gaps and regulatory uncertainty have been real barriers.' 'By establishing clear, actionable rules for stablecoins and digital assets, the Genius Act unlocks broader adoption by traditional institutions and brings much-needed trust and transparency to the sector. This paves the way for compliant, bank-backed digital money and new solutions for corporate treasuries, helping to bridge the gap between innovation and investor protection.' DANTE DISPARTE, CHIEF STRATEGY OFFICER, CIRCLE, NEW YORK: 'The House vote to clear the GENIUS Act for the President's signature is a defining moment for the future of money and the internet financial system. It signals strong bipartisan support for responsible innovation and sends a clear message that the U.S. will lead in the regulation of dollar-backed payment stablecoins. We commend Congressional leaders for delivering a regulatory foundation that puts consumer protection, financial integrity, and U.S. competitiveness at the forefront.' SUMMER MERSINGER, CEO, BLOCKCHAIN ASSOCIATION (press release): 'The bipartisan passage of the GENIUS Act is a watershed moment for digital assets in the United States. For the first time, Congress has moved comprehensive legislation that provides enforceable, tailored rules for stablecoins — a foundational technology for the future of finance. This marks real momentum toward regulatory clarity that protects consumers, supports innovation, and reinforces the strength of the U.S. dollar in the digital economy. We now call on President Trump to swiftly sign the bill into law, ensuring that the United States continues to lead in shaping the global standards for digital assets.' MICHAEL JAMES, EQUITY SALES TRADER, ROSENBLATT SECURITIES, LOS ANGELES: "Crypto stocks have been strong the past two days in expectation that the bill, which didn't pass on Tuesday, would eventually get the necessary votes to pass, which it has done this afternoon. That is part of the reason that crypto stocks have been outperformers in the last two days."
Zawya
04-07-2025
- Business
- Zawya
Nasdaq-listed DeFi Technologies launches UAE office to expand into MENA
UAE - DeFi Technologies, a financial technology company bridging the gap between traditional capital markets and decentralized finance (DeFi), has launched business in the UAE. The company expanded in the GCC and MENA region with the registration of DEFI DMCC with offices in Jumeirah Lake Towers, Dubai, according to a press release. Through its subsidiary Valour, and Valour Digital Securities Limited, DeFi Technologies inaugurated a trading desk at Dubai Multi Commodities Center (DMCC) in the UAE. Meanwhile, the company aims to support the rising institutional interest in digital assets in the GCC region and specifically in the UAE. This expansion supports its strategy to scale product offerings and global footprint. Being the first Nasdaq-listed digital asset manager of its kind, DeFi Technologies offers equity investors diversified exposure to the wider decentralized economy through its integrated and scalable business model. This includes Valour, which offers access to more than 65 of the world's most innovative digital assets via regulated ETPs with plans to offer 100 by the end of 2025. Andrew Forson, President of DeFi Technologies and Chief Growth Officer of Valour, stated: ' We believe the demand for digital asset ETPs will increase not only globally but in the GCC and Middle East." Forson added:"Investors whether sovereign wealth funds, institutional investors, family offices and even retail investors are interested in crypto but require familiar and efficient vehicles to get exposure.' 'Wrapping digital assets like Bitcoin and Ethereum in regulated financial instruments such as ETPs will increase the number of crypto investors and offer countries such as the UAE, Qatar, Oman, and Saudi Arabia access to international foreign investment,' he noted. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
