Monthly Eventsk

✨✨Monthly Eventsk✨✨

📌📌Thailand’s SEC Enhances Cryptocurrency Regulatory Framework

📝📝The Securities and Exchange Commission (SEC) of Thailand recently revised its regulatory framework for cryptocurrencies, removing investment restrictions on asset-backed tokens for retail investors. This progressive update also mandates the establishment of dedicated entities for wallet custody management, concurrently endowing the SEC with enhanced supervisory authority over digital asset businesses. Notably, the Thai SEC has opted to disallow spot Bitcoin exchange-traded funds (ETFs) to safeguard investor interests.

📌📌Binance Collaborates with Gulf Energy for Exchange Launch

📝📝In a strategic collaboration, Binance has partnered with Gulf Energy to introduce a new cryptocurrency exchange. The joint venture, named Gulf Binance, has initiated cryptocurrency trading services in Thailand. This collaboration not only provides Thai users with a broader spectrum of options but also actively contributes to the growth and development of the cryptocurrency market in Thailand.

📌📌High Probability of US Stablecoin Legislation in 2024

📝📝Circle CEO Jeremy Allaire has expressed optimism about the likelihood of the United States passing stablecoin legislation this year. Allaire contends that the global acceleration of regulatory developments within the cryptocurrency industry positions the US favorably for approving stablecoin laws. This sentiment is shared by Circle’s Chief Strategy Officer and Global Public Policy Director, Dante Disparte.

📌📌Japan’s Foray into Web3 Policy Formulation

📝📝Lawmakers in Japan are gearing up to formulate a new policy specifically tailored for Web3 technologies. This proactive approach underscores Japan’s commitment to staying at the forefront of technological advancements, ensuring a regulatory environment that fosters innovation within the Web3 space.

📌📌Canadian Authorities Propose Regulation for Cryptocurrency Funds

📝📝The Canadian Securities Administrators (CSA) have unveiled proposed regulatory requirements targeting public investment funds venturing into cryptocurrency assets. This initiative seeks to bolster investor protection and mitigate risks associated with cryptocurrency investments.

📌📌Korean Financial Supervisory Service Unveils Virtual Asset Guidelines

📝📝The Financial Supervisory Service (FSS) of Korea has completed the comprehensive compilation of guidelines governing virtual assets. Covering aspects such as issuance, circulation, and listing standards, these guidelines aim to provide a well-defined regulatory framework for the virtual asset market while prioritizing investor protection.

📌📌Nigeria Reverses Cryptocurrency Ban with Stringent Regulations

📝📝Following the lifting of the cryptocurrency ban, Nigeria has implemented rigorous regulations on banks. While cryptocurrency providers can now open bank accounts, cash withdrawals are restricted. Banks remain prohibited from holding and trading cryptocurrencies for their own accounts.

📌📌Coinbase NFT Introduces AI-Generated NFT Service

📝📝Coinbase NFT has announced the integration of an “Instamint” service supporting the creation of NFTs generated through artificial intelligence. This innovative service enhances the platform’s offerings in the rapidly evolving NFT space.

📌📌Terraform Labs Files for Bankruptcy Amid SEC Lawsuit

📝📝Terraform Labs has filed for bankruptcy, a strategic move in response to the securities fraud case brought by the US Securities and Exchange Commission (SEC). This filing enables Terraform Labs to initiate an appeal against the SEC’s allegations.

📌📌Hong Kong Mandates 50% Insurance for Compliant Crypto Exchanges

📝📝The Securities and Futures Commission (SFC) of Hong Kong has mandated that licensed cryptocurrency exchanges must secure a minimum of 50% insurance coverage for customer assets. This proactive measure aims to fortify investor confidence and ensure the safeguarding of funds.

📌📌US CFTC Chairman Advocates Caution on Spot Bitcoin ETFs

📝📝CFTC Chairman Behnam has highlighted the inherent risks associated with spot Bitcoin ETFs, emphasizing the need for legislative regulation to mitigate these risks. This cautionary stance suggests potential future regulatory measures that could significantly impact the cryptocurrency market.

📌📌US SEC Commissioner Peirce Expresses Concerns About Decentralization

📝📝US SEC Commissioner Hester Peirce has voiced concerns about the fear of regulators regarding decentralization. In an interview, she highlighted that regulators are apprehensive about relinquishing control over entities within the financial system. Peirce emphasized that decentralized systems contribute to the resilience of the financial ecosystem.

📌📌Italian Regulator Accuses OpenAI of Data Protection Violation

📝📝The Italian Data Protection Authority (IDPA) issued a statement accusing OpenAI of violating data protection and privacy laws. This allegation emphasizes the importance of adhering to stringent data protection regulations, even in the rapidly evolving field of artificial intelligence.

📌📌Bitpanda Launches Institutional Crypto Platform with Cold Storage Service

📝📝Austrian fintech unicorn Bitpanda has unveiled Bitpanda Wealth, an institutional-grade cryptocurrency trading platform. Positioned to meet the escalating demand for institutional crypto services in Europe, Bitpanda Wealth offers cold storage services to enhance the security of digital assets.