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“Gensler singled out bitcoin ETFs which invest in futures contracts that trade on the Chicago Mercantile Exchange and register under the Investments Company Act of 1940. The so-called ‘40 Act “provides significant investor protections,” he said in prepared remarks for a Financial Times conference:
I look forward to staff’s review of such filings.
The SEC is reviewing almost two dozen ETF filings for bitcoin, bitcoin futures, ether and ether futures products. Industry observers expect decisions as early as October.“
See Also: First cryptocurrency fund approved in Switzerland
“The Merge Interop spec was released on Friday. This “meta-spec” provides stable targets for engineers for an initial wave of testing and devnets.
After a flurry of specification activity over the past few months, Merge specs are near feature complete, and the core logic is stable. In this next phase, engineers will build out the Merge logic and test their software with other teams on short-lived devnets. The engineers will vet the specs as they stand today and provide dynamic feedback into the specs to refine and/or fix issues as they arise.
Proof-of-stake superceding proof-of-work is years in the making, and we’re just as excited as you to see it in action. Much fun coming in October. 🏺🚀”
“Twitter Spaces software engineer Mada Aflak showed a quick demo in which a person would click on their avatar and select an NFT from their crypto wallet. After downloading their NFTs from OpenSea, a popular marketplace for the digital collectibles, they can put the NFT in their avatar—complete with the customary blue checkmark to show that they’re the true owner of the image.
NFTs have become akin to social currency of late as devotees of Ethereum and other smart contract blockchains have recently begun posting their digital possessions as profile photos.”
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“4K platform, a marketplace that allows users to mint non-fungible tokens (NFTs) representing physical assets, launched on the Ethereum network Wednesday morning.
4K says it will bring real-world assets onto the blockchain by issuing users of the platform an NFT symbolizing ownership of a physical good. The company obtains the item from a seller, authenticates, insures and stores it. The NFT holder can then trade their NFT for the physical item. Upon redemption, the NFT is destroyed, meaning the holder cannot possess both the physical object and the NFT simultaneously.
4K is an analog to digital converter for physical collectibles.
According to Li, most sales of luxury artworks occur only “on paper,” with no physical transferring of goods. ‘The ownership changes, but the pieces don’t move.’ NFTs therefore make ownership of non-fungible, real-world items easy to trade and gift, potentially disrupting traditional marketplaces or auction houses such as eBay, Christie’s and Sotheby’s.”
See Also: 4K Platform
See Also: Pawn Your CryptoPunk: A New NFT DeFi Lending Market Blooms
“The region of Central, Northern, and Western Europe (CNWE) has become the world’s largest cryptocurrency economy thanks to the proliferation of decentralized finance (DeFi), according to the latest report by crypto analytics firm Chainalysis.
Larger traditional institutional players have been paying increasingly more attention to DeFi, and this trend was most prominent in CNWE’s crypto sector. The combined value of large institutional-sized transactions—i.e. transfers worth $10 million or more—reportedly grew from $1.4 billion in July 2020 to $46.3 billion in June 2021. The data shows that over the last 12 months, the majority of large institutional-sized transfers went to DeFi platforms.
DeFi protocols represent three to four of the top five services in most months, with Uniswap, Instadapp, and dYdX making frequent appearances.
Ethereum and Wrapped Etherum became the most popular cryptocurrencies in almost every CNWE country, outpacing Bitcoin in terms of sheer volume. In the U.K., for example, Bitcoin makes up 27% of the total crypto transaction value while ETH and WETH made up 40%.”
See Also: Crypto Gains Ground in Latin America Amid Venture Capital Boom
See Also: Former Bitcoin lead dev predicts demise of BTC network… with a major silver lining
See Also: Cross-Chain Wallet XDEFI Raises $6M to Take on MetaMask, Phantom
See Also: Celer (CELR) gains 400% after traders embrace its multi-chain ‘cBridge 2.0’ solution
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“The 12 relatively unknown options merchants accused of failing to register with the CFTC are New York-based, according to a Wednesday press release. The two companies that are accused of “making false and misleading claims of having CFTC registration and National Futures Association (NFA) membership”– Climax Capital FX and Digitalexchange24.com – are based in Texas and Arkansas.
The CFTC has traditionally taken more of a backseat role in crypto regulation than the U.S. Securities and Exchange Commission (SEC), but there are signs this might be changing as the two regulatory bodies jockey for power.”
See Also: Opposition mounts to Biden’s OCC pick, fears she could ‘regulate crypto into oblivion’
The Disrupt 