Weekly Update: 21 December 2023
1) BlackRock’s proposed spot bitcoin ETF gets a ticker in latest filing with SEC [The Block]
– BlackRock’s proposed spot bitcoin exchange-traded fund now has a ticker: IBIT. Updated filing includes new language about the fund’s creation and redemption model.
2) UK introduces new regulations for its Digital Securities Sandbox [The Block]
– The sandbox, overseen jointly by the Bank of England and the Financial Conduct Authority, allows testing of solutions like distributed ledger technology and tokenization of securities to promote innovation in the digital assets sector.
3) Bank of Korea Governor sees CBDC introduction as case for ‘urgency:’ report [CoinDesk]
– Stablecoins’ widespread usage and frequent instability could reduce the effectiveness of central bank monetary policies, Rhee Chang-yong said.
4) Grayscale mulls over potential tax implications for spot Bitcoin ETFs [Cointelegraph]
– The asset management firm declares that the Grayscale Bitcoin Trust falls under the grantor trust structure for tax considerations.
5) Palau advances CBDC with Ripple in phase 2 of PSC program launch [Cointelegraph]
– The second phase of the PSC program will prioritize the development of a digital ecosystem and increased user engagement, emphasizing adherence to regulatory compliance.
6) SEC delays decisions on Hashdex and Grayscale Ethereum-focused ETFs [The Block]
– The agency instituted “proceedings” for multiple applications on Monday and asked for public input on whether the exchange-traded funds should be allowed to list, according to filings on Monday.
7) Small ESG-focused crypto asset manager is another late entrant to Bitcoin ETF race [CoinDesk]
– 7RCC, a crypto asset management firm targeting ESG-focused investors, filed an application with the SEC for a spot-bitcoin and carbon credits futures ETF.
8) Tether: We’ve onboarded FBI, Secret Service to our platform [The Block]
– Tether’s CEO revealed plans to combat misuse of USDT by involving the Secret Service and FBI. They have frozen 435 million USDT from wallets on the U.S. sanctions list so far.
