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Table of Contents
News
Global
Palau Accelerates CBDC Implementation in Collaboration with Ripple: Unveiling Phase 2 of the PSC Program
- The nation’s Ministry of Finance formally inaugurated the second phase of the Palau Stablecoin (PSC) initiative.
- Anson further emphasized that the second phase of the PSC pilot program will concentrate on forming new partnerships for marketing and sustainable development objectives.
IOSCO Unveils Nine Recommendations for Crypto Sector Oversight
- IOSCO is looking to encourage consistency in the way crypto-asset markets are regulated
- IOSCO to soon shift its focus to regulatory capacity building and technical assistance to members
China Aims to Boost NFTs and dApps Despite Cryptocurrency Ban
- China’s Ministry of Science and Technology to unveil a Web3 strategy, boosting NFT and dApp growth.
- Emphasis on key sectors like government and industry, targeting inheritance, innovation, security, and government responsibilities.
El Salvador Passes Bitcoin-Linked Citizenship Law for Swift Naturalization
- Legislation breaks from tradition by omitting a specified minimum donation requirement
- El Salvador recently introduced the Bitcoin Freedom Visa, offering residency to foreigners investing $1 million in Bitcoin.
Hong Kong Regulator Welcomes Spot Crypto ETFs into Financial Landscape
- Spot crypto ETFs are about to be welcomed in Hong Kong as the city’s financial regulator declared on December 22 that it is ready to accept applications for them.
- The SFC underlined that these ETFs’ cryptocurrency transactions must go through approved financial institutions or crypto platforms licensed by the SFC.
Global Crypto Regulation Call: China’s Central Bank Proposes Collaborative Framework
- The PBoC discussed concerns about cryptocurrency regulation and DeFi, advocating for a global initiative to create crypto regulations.
- The cryptocurrency market makes up 1% of the world’s financial system and has little to no relationship with traditional finance.
Nigeria’s Central Bank Lifts Ban, Allows Banks to Facilitate Crypto Transactions
- CBN noted the increased adoption of crypto makes it necessary for banks to facilitate transactions in cryptocurrency
- Banks are banned from holding or conducting transactions in cryptocurrency using their own accounts.
Platform and Tokens
FTX Submits Proposal To End Bankruptcy Amidst Legal Cost Concerns
- Between July and October, FTX was reportedly expending around $53,000 per hour on bankruptcy lawyers and advisers.
- Under the reorganization plan, the company plans to distribute billions of dollars as cash instead of crypto.
Bitwise’s Latest Ad Signals Onset of Anticipated Bitcoin ETF Marketing Blitz
- Bitwise, a major player in the Bitcoin ETF quest, reveals a compelling SEC approval push with the latest Ad.
- Bitwise’s commercial targets older generations, stars actor Jonathan Goldsmith, “The Most Interesting Man.”
Binance Settles with US Court: Agrees to Pay $2.7 Billion to CFTC
- The CFTC will receive payments of $150 million from CZ Zhao and $2.7 billion from Binance as a result of an order imposed by a US court against the crypto exchange.
- With the authorized settlement, the CFTC’s protracted legal action against CZ and Binance comes to an end.
Montenegro Court Reverses Decision: Do Kwon’s Extradition Approval Canceled
- The approval for Terra founder Do Kwon’s extradition to the US or South Korea has been revoked by a Montenegrin judge.
- The ultimate decision of which nation came first was expected to be made by the Montenegrin Minister of Justice.
US Court Greenlights Forfeiture of more than $1B worth Bitcoin in Silk Road Case
- A US appeals court has completed the legal procedure to formally seize 69,370 Bitcoin and other crypto from the Silk Road.
- In addition to Bitcoin, the confiscated Bitcoin assets also included Bitcoin gold (BTG), Bitcoin SV (BSV), and Bitcoin Cash (BCH).
Judge Denies SBF’s Request for Delays Ahead of Sentencing Interview
- Sam Bankman-Fried requested a four- to six-week extension of his sentence hearing, but Judge Lewis Kaplan dismissed his motion.
- The government has not yet stated if it would move on with a second trial on the withdrawn charges against SBF.
Project Updates
Revolut Temporarily Halts Crypto Services for UK Business Customers
Revolut responds to FCA regulations, temporarily halting crypto for UK businesses. Suspension of specific crypto services begins on January 3.
Ripple Receives Green Light as Digital Asset Service Operator in Ireland
After being approved as a VASP by the Central Bank of Ireland, the crypto payment network Ripple has achieved another regulatory milestone in Ireland. Ripple is also permitted to offer custody services, exchange services between different cryptocurrencies, and crypto exchange services against fiat currencies.
BarnBridge DAO Settles with SEC: Fixed Yield Protocol Resolves Case for $1.7M
The US SEC and BarnBridge, the governing body of the DeFi protocol, have reached a settlement. BarnBridge DAO, the entity that is the respondent in the SEC enforcement case, comprises all BOND token holders collectively.
Podcasts and Interviews
- Interview with Kartin Wong, founder of Hyper Oracle
- “Bitcoin Will Dominate Wall Street In 2024” podcast by Anthony Pompliano
- “Elizabeth Warren’s Anti-Bitcoin Agenda” podcast by What Bitcoin Did
Job Listings
- ZK circuits engineer | Ethereum Foundation
- Senior Fullstack Developer | Enya Labs
- Lead Security Engineer | Enya Labs
- Smart Contract Auditor | Netherminds
2k23 Events
- EF’s Next Billion fellowship cohort 4 deadline is January 15, 2024
- ETH Cinco de Mayo hackathon (Cholula, Puebla) from February 2 to February 4
- ETHDenver BUIDLWeek & hackathon from February 25 to March 3
- ETHLatam (San Pedro Sula, Honduras) from March 13 to March 14
- ETHGlobal London from March 15 to March 17
As we wrap up another week of insights and discoveries, remember that staying informed and motivated is an ongoing journey. WeekInFocus by CoinCodeCap is here to accompany you on this path, bringing you a fresh perspective on the news, a doorway to exciting job possibilities, and a collection of thought-provoking podcasts. Let’s embrace the coming week with curiosity and determination. Until next time, keep focused and keep thriving!
