Weekly Update: 08 Feb 2024
1) South Korean regulator to discuss spot Bitcoin ETF with U.S. SEC: report [CoinDesk]
– In December it was reported that Financial Supervisory Service head Lee Bok-hyun was planning on meeting U.S. SEC Chairman Gary Gensler for the first time to discuss crypto regulation.
2) DigiFT, Onfet, and Tranchess drive launch of the Digital Assets Association [Fintech News Singapore]
– The DAA seeks to unite various sectors, including financial institutions, fintech companies, technology providers, and legal and regulatory experts, to address the evolving landscape of tokenized real-world assets.
3) A crypto carbon credits exchange is created in Germany [CoinDesk]
– Neutral and DLT Finance are betting on regulation as the pathway to institutional investor adoption.
4) Bybit seeks VATP license in Hong Kong for crypto expansion [Cointelegraph]
– The cryptocurrency exchange submitted its license application on Jan 31.
5) S. Korea proposes FSC screening of crypto execs before employment [Cointelegraph]
– The proposed amendment to South Korea’s virtual asset service provider reporting requirements is expected to go into effect by the end of March 2024.
6) Stablecoin Tether’s market dominance may jeopardize crypto, JPMorgan says [Bloomberg]
– Tether’s USDT token is on the verge of surpassing $100 billion; Lack of ‘compliance and transparency’ hurts, JPMorgan says.
7) Superstate debuts tokenized short-term treasury fund on Ethereum to compete for zero-yield stablecoins [CoinDesk]
– Superstate’s USTB token aims to offer institutional investors an alternative to stablecoins to earn a yield on their on-chain cash holdings, company founder and CEO Robert Leshner said in an interview.
8) Treasury secretary Janet Yellen warns of crypto risks [CoinDesk]
– Yellen is set to tell U.S. lawmakers that the FSOC is especially wary of stablecoins and the potential for digital asset runs.
