Weekly Update: 08 June 2023
1) SEC sues Binance and CEO Changpeng Zhao for securities violations [CoinDesk]
– The SEC has sued Binance, Binance.US, and CEO Changpeng Zhao for allegedly violating federal securities laws, offering unregistered securities to the public in the form of BNB token and BUSD stablecoin.
2) SEC sues Coinbase for operating illegally [Channel News Asia]
– The SEC has sued Coinbase, accusing the largest U.S. cryptocurrency exchange of operating illegally without having first registered with the regulator. The lawsuit came a day after the SEC sued Binance and its founder.
3) Circle obtains Major Payment Institution license in Singapore [The Block]
– This allows USDC stablecoin issuer’s affiliate, Circle Internet Singapore, to offer digital payment token services and cross-border and domestic money transfer services in the city-state.
4) Credit Suisse, Deutsche Bank-backed Taurus deploys on Polygon blockchain [CoinDesk]
– Swiss fintech firm Taurus has deployed its digital asset infrastructure on the Polygon blockchain. The move aims to provide institutional-grade services for tokenizing, storing, and transferring digital assets.
5) Crypto.com receives digital token license in Singapore [CoinDesk]
– Crypto.com has been granted a Major Payment Institution license in Singapore by the Monetary Authority of Singapore (MAS), allowing it to provide digital payment token services.
6) First Digital Group launches USD-backed stablecoin in Hong Kong [Cointelegraph]
– Hong Kong-based First Digital Group has launched a redeemable USD-backed stablecoin, FDUSD. The stablecoin is pegged 1:1 to the US dollar and is aimed at facilitating cross-border transactions and remittances.
7) Gate.io denies liquidity problems after Multichain CEO goes missing [Cointelegraph]
– Crypto exchange Gate.io has denied facing liquidity issues following the disappearance of Multichain’s CEO. The exchange reassured users that their assets are safe and trading operations are normal.
8) Huobi could have Hong Kong license in 6 to 12 months: Justin Sun [CoinDesk]
– Crypto exchange Huobi could receive a crypto trading license in Hong Kong within the next 6 to 12 months, according to Tron founder Justin Sun. Huobi recently moved its headquarters from Singapore to Hong Kong.
9) Japan to launch a yen-pegged stablecoin [Financial Times]
– Japan’s central bank is set to launch a yen-pegged stablecoin. The move is part of the country’s efforts to digitize its currency and keep up with China’s digital yuan.
10) Optimism completes ‘Bedrock’ hard fork in pursuit of superchain [CoinDesk]
– Ethereum layer-2 scaling solution, Optimism, has completed its ‘Bedrock’ hard fork. The upgrade is a significant step towards the creation of a ‘superchain’ that can handle more transactions at lower costs.
