PANews reported on October 28 that according to hk01, Zheng Zhigang, founder of A2Z, a digital asset brand under the Shanghai Cooperation Organization (Almad Group), has officially become a shareholder of CBCX, a multi-asset liquidity provider headquartered in London, UK. The two parties will promote participants and investors in the gold industry chain to expand their risk exposure in the gold and foreign exchange fields, financial hedging tools and investment trading platform business, and jointly expand commodities, stock investment and brokerage businesses.
CBCX will also soon launch a Digital Asset Index, providing diversified digital currency investment and hedging products for financial institutions, family offices, and individual investors. The two parties will also jointly explore the launch of gold digital assets and tokenized financial products.

Legal experts are concerned that transforming ESMA into the “European SEC” may hinder the licensing of crypto and fintech in the region. The European Commission’s proposal to expand the powers of the European Securities and Markets Authority (ESMA) is raising concerns about the centralization of the bloc’s licensing regime, despite signaling deeper institutional ambitions for its capital markets structure.On Thursday, the Commission published a package proposing to “direct supervisory competences” for key pieces of market infrastructure, including crypto-asset service providers (CASPs), trading venues and central counterparties to ESMA, Cointelegraph reported.Concerningly, the ESMA’s jurisdiction would extend to both the supervision and licensing of all European crypto and financial technology (fintech) firms, potentially leading to slower licensing regimes and hindering startup development, according to Faustine Fleuret, head of public affairs at decentralized lending protocol Morpho.Read more

