Weekly Update: 09 May 2024
1) CFTC’s Behnam warns crypto industry that more enforcement actions are coming [Blockworks]
– CFTC Chairman Rostin Behnam said a growing crypto industry and lack of US laws is going to inevitably lead to more enforcement actions.
2) Less than 10% of stablecoin transaction volume coming from real users: Report [CoinDesk]
– Less than 10% of stablecoin transaction volumes are organic or come from real people, according to new findings by Visa and data platform Allium Labs, Bloomberg reported.
3) Australia’s tax office tells crypto exchanges to hand over transaction details of 1.2 million accounts: Reuters [CoinDesk]
– The Australian Taxation Office (ATO) has asked cryptocurrency exchanges to provide the personal data and transaction details of up to 1.2 million accounts, according to reports.
4) Crypto trading firm Wintermute to provide liquidity for Hong Kong Bitcoin and Ether ETFs [CoinDesk]
– Looking to strengthen its market share in the Asia region, Wintermute will become a liquidity provider to the recently launched Hong Kong-listed spot bitcoin and ether exchange-traded funds.
5) FTX proposes ‘billions in compensation,’ but not everyone’s happy [Cointelegraph]
– FTX’s latest proposal could repay creditors as much as $16.3 billion, but some argue the plan still falls short of being fair.
6) Hong Kong central bank forms community to explore asset tokenization [Cointelegraph]
– Regulators like HKMA and SFC united with local private sector firms like HSBC and HashKey to support the tokenization market in Hong Kong.
7) Indonesia regulator forms crypto committee to monitor industry’s operation, compliance [CoinDesk]
– The committee was established by the Commodity Futures Trading Supervisory Agency, known as Bappebti, because crypto is considered a commodity in Indonesia.
8) Robinhood warns of SEC lawsuit threat over crypto business [Financial Times]
– Retail brokerage says ‘Wells notice’ comes after years of attempts to seek regulatory clarity.
