Weekly Update: 22 Feb 2024
1) Turkey releases first-phase digital lira project evaluation report [Cointelegraph]
– The digital Turkish lira is set to be an intermediated CBDC with self-sovereign identity and offline transfers.
2) UK Minister expects stablecoin and staking legislation within six months: Bloomberg [CoinDesk]
– Economic Secretary to the Treasury Bim Afolami has said the U.K. government was “pushing very hard” to bring legislation for stablecoins and staking services for crypto assets within six months.
3) Circle ceases USDC support on TRON blockchain as part of risk management strategy [The Block]
– The decision followed an “enterprise-wide” risk assessment, according to Circle.
4) Crypto advocacy group calls on Senate Banking Chair not to support Elizabeth Warren’s AML bill [Cointelegraph]
-The Chamber of Digital Commerce claimed Senators Elizabeth Warren and Sherrod Brown were “trying to kill the entire industry” with the Digital Asset Anti-Money Laundering Act.
5) Crypto exchange-traded products hit bull run levels with $67B AUM [Cointelegraph]
– Record year-to-date crypto product inflows, slowing outflows, and positive price action have made the perfect recipe for the swelling AUM.
6) DeFi Devs get real-time Bitcoin ETF data with Pyth Network [Cointelegraph]
– Pyth Network introduces Bitcoin ETF price feeds to allow DeFi developers access to real-time market data, bridging the gap between traditional finance and decentralized finance.
7) Hong Kong’s central bank issues guidance for firms offering crypto custodial services [CoinDesk]
– The HKMA wants authorized institutions to undertake a comprehensive risk assessment followed by appropriate policies to manage identified risks.
8) Japan regulator clarifies stance on P2P crypto transfers [Cointelegraph]
– The FSA says its recommendations don’t envisage “any transactions from one individual to another.”
