Weekly Update: 01 Feb 2024
1) 18 US senators now ‘stand with crypto’ — Coinbase lobby group [Cointelegraph]
– A total of 18 senators now fall into the pro-crypto camp, according to analysis from Coinbase advocacy group Stand with Crypto.
2) Bitcoin ETFs in and around Asia after U.S. approvals? Analysts are optimistic about momentum [CoinDesk]
– Hong Kong has voiced the most interest in achieving the reality of a bitcoin ETF approval, and that the U.S. approval could move things along faster.
3) Circle to issue its stablecoin USDC on Celo network to boost RWA capabilities [CoinDesk]
– Investors are focusing on more liquid, growth-ready startup opportunities as crypto venture capital continues to recover.
4) European fintech aims to provide hassle-free crypto-to-cash conversions [Cointelegraph]
– A Web3 financial platform wants to catalyze crypto use by integrating traditional banking features like IBAN accounts and Visa cards.
5) Hong Kong gets spot-bitcoin ETF application, stablecoin interest from China’s Harvest Global: reports [CoinDesk]
– Venture Smart Financial Holdings is also aiming for a spot-bitcoin ETF and is involved in the discussions about the stablecoin sandbox.
6) Hong Kong sets 50% insurance mandate for crypto exchanges [Blockchain.News]
– Hong Kong’s SFC mandates 50% insurance coverage for licensed crypto exchanges, with OSL and HashKey Exchange leading compliance by securing extensive insurance policies for customer asset protection.
7) Japan to resolve CBDC issuance legalities by Q2 2024 [Cointelegraph]
– While Japan is preparing to solve the legal issues around issuing a CBDC, it has not revealed plans for an official launch.
8) Thailand’s SEC breaks new ground in 2024 with crypto-friendly rules [CoinDesk]
– Retail investors can now invest without limits in digital tokens backed by real estate or infrastructure.
