Weekly Update: 06 July 2023
1) BlackRock Bitcoin ETF application refiled, naming Coinbase as ‘surveillance-sharing’ partner [CoinDesk]
– BlackRock refiles its Bitcoin ETF application with Nasdaq, naming Coinbase as the surveillance-sharing partner after SEC feedback.
2) Singapore and Thailand crack down on crypto staking [Blockworks]
– Singapore and Thailand implement regulations to restrict crypto staking services, with MAS aiming to restrict DPT service providers.
3) Bitcoin, Ether supply on exchanges fell in June: Goldman Sachs [CoinDesk]
– Goldman Sachs reports a 4% drop in Bitcoin supply and a 5.8% decrease in Ether supply on exchanges in June, attributing it to regulatory concerns and cybercrime.
4) Compound founder forms ‘Superstate’ to create bond fund with Ethereum for record-keeping [CoinDesk]
– Compound’s CEO, Robert Leshner, forms ‘Superstate’, aiming to create a short-term government bond fund using Ethereum for secondary record-keeping.
5) Hong Kong embraces Web3 with new task force [Decrypt]
– Hong Kong forms a task force to foster digital assets and blockchain development, aiming to create a regulatory sandbox.
6) Mastercard pilots tokenized bank deposits in new UK testbed [CoinDesk]
– Mastercard pilots tokenized bank deposits in a UK testbed to explore the potential impact on payment systems and financial services.
7) MAS expands blockchain tech pilots to include more asset classes [The Straits Times]
– The Monetary Authority of Singapore expands its blockchain pilots to include more asset classes, exploring blockchain’s potential in finance.
8) New UK law recognizes crypto trading as regulated financial activity [Decrypt]
– The UK passes a law recognizing cryptocurrency trading as a regulated activity, aiming to ensure safe crypto adoption.
9) South Korea passes crypto bill for user protection [CoinDesk]
– South Korea passes the Virtual Asset User Protection Act, setting penalties for unfair transactions and mandating user asset segregation.
10) UK Law Commission recommends ‘distinct’ legal category for crypto [Cointelegraph]
– The UK’s Law Commission recommends a distinct personal property category for cryptocurrencies and digital assets as part of law reform efforts.
