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Table of Contents
News
Global
London Stock Exchange Plans to List Bitcoin and Ethereum ETNs
- LSE has confirmed plans to begin accepting applications for Bitcoin and Ethereum ETNs.
- FCA implements strong controls for crypto ETNs, prioritizing market integrity and investor protection.
UK FCA Initiates Path for Institutional Investors with Crypto-Backed ETN Market
- The UK’s FCA indicated that it would not oppose requests from RIEs to create a listed market segment for ETNs backed by cryptocurrency assets.
- The FCA warns consumers that investing in cryptocurrencies has a substantial risk of losing all of their money.
Thailand SEC Allows Accredited Investors Access to US Spot Bitcoin ETFs
- Thailand’s SEC has apparently modified regulations governing the establishment of private funds that invest in spot Bitcoin ETFs sold on American markets.
- Due to the substantial risk involved with Bitcoin ETPs, only accredited investors will be allowed to be exposed to them, according to SEC secretary-general.
FDIC Urges Enhanced Digital Asset Policy to Conserve US Influence
- In a speech on March 11, the US FDIC warned that if blockchain technology regulation is handled poorly, bank clients and the US economy may lose out on prospects.
- Regulators must provide direction and consistency in order to ensure that deposits of all kinds receive the same treatment, according to Hill.
Tether Assisted US DOJ and FBI Retrieve $1.4M in Stolen Funds
- On March 12, the Chicago, Illinois, United States Attorney’s Office declared an almost $1.4 million seizure in Tether.
- The Attorney’s Office claims that the funds were stolen through customer support fraud, primarily targeting the elderly.
Dutch Central Bank Imposes Fine on Crypto.com Over Registration Violations
- The Netherlands’ central bank, De Nederlandsche Bank (DNB), fined Crypto.com for running its website unregistered for more than two years.
- In accordance with the Dutch Anti-Money Laundering and Anti-Terrorist Financing Act, cryptocurrency service providers must register.
SEC Charges 17 Individuals in $300M CryptoFX Ponzi Scheme
- They are accused of misleading investors into believing their funds would be invested in crypto and other assets when they were not
- Charges leveled by the SEC include fraud, failure to register securities, failure to register as brokers, and failure to protect whistleblowers.
Indian Railways Introduces NFT Train Tickets
- On the occasion of the Indian Festival of Holi, Indian Railways will offer NFT train tickets for two designated trains headed towards Delhi between March 20 and April 2.
- Known as the festival of colors, Holi is celebrated with this project, which is driven in part by NFTtrace, a digitalization platform.
Dubai’s DIFC Enacts New Digital Assets Law, New Securities Law
- The DIFC’s Digital Assets Law, following a review of global regulatory approaches and public consultation last year, came into effect on March 8
- Legislation aims to keep the DIFC updated with tech advancements in trade and finance and provide legal clarity for digital asset investors and users.
Platform and Tokens
ArbitrumDAO Withdraws $1.28M Proposal to Back Tornado Cash Developers’ Legal Defense
- An ArbitrumDAO proposal to donate up to $1.28 million in crypto toward Tornado Cash developers for their legal defence has been deleted by its author.
- The proposal, posted on March 6, 2024, sought to provide a “robust legal defense” for Roman Storm and Alexey Pertsev.
BlackRock’s Bitcoin ETF Surpasses MicroStrategy’s BTC Holdings, Crossing $10B Mark
- MicroStrategy, as of February 26, held 193,000 tokens while BlackRock’s IBIT currently holds 197,943 Bitcoin
- On March 5, IBIT witnessed its highest daily inflow of $788 million
DeFi Protocol Unizen Vows ‘Immediate Reimbursement’ Post $2.1M Hack
- Following a platform hack that lost over $2.1 million in user funds, the DeFi protocol Unizen declared that it would compensate its subscribers who lost 750,000 or less.
- The protocol also stated that it is currently collaborating with forensic specialists and law enforcement to identify the hacker.
Grayscale Seeks Approval for “Mini” Spot Bitcoin ETF
- The Grayscale Bitcoin Trust ETF, which will now trade under the ticker code “BTC,” has filed to be registered as a new “mini” version.
- Since GBTC will also be contributing an undisclosed quantity of Bitcoin to the new trust, the filing states that the shares of the new Bitcoin trust will be distributed to current GBTC owners.
Crypto Mixer Bitcoin Fog’s Founder Found Guilty of Money Laundering
- Sterlingov has been found guilty of money laundering, money laundering conspiracy, operating an unlicensed money-transmitting business, and violations of the D.C. Money Transmitters Act.
- The government’s case emphasized Bitcoin Fog’s extensive involvement in laundering more than 1.2 million BTC, valued at $400 million during the transactions.
Coinbase Continues Legal Battle with SEC Over Crypto Regulation
- Coinbase criticizes the SEC’s rejection of its rulemaking proposal as “arbitrary and capricious.
- Coinbase argues that SEC’s enforcement-based regulation approach damages American consumers.
Bybit and 11 Products Listed as ‘Suspicious’ by Hong Kong Regulator
- Hong Kong SFC has issued a warning against unlicensed virtual asset trading platform Bybit.
- Hong Kong SFC’s alert dubs 11 products offered by Bybit as ‘suspicious.’
Mozaic Finance Hit by $2.4 Million Hack Via Private Key Compromise
- The attack was carried out through a calculated compromise of a private key
- The attacker exploited a vulnerability in the “bridgeViaLifi” contract, a function typically restricted to developer wallets.
Project Updates
VanEck Drops Spot Bitcoin ETF Fees to Zero Amid Record High Inflows
Until March 31, 2025, asset management VanEck will waive all sponsor fees for the first $1.5 billion of assets invested in its Bitcoin Trust ETF. ETF managers started a pricing war over the costs of managing their funds even as the SEC considered applications for spot Bitcoin ETFs.
Bakkt Faces Delisting Threat From NYSE as Share Prices Fall Below $1
NYSE issued a warning to Bakkt after its average closing share price remained under $1 for the past 30 days. Bakkt has a six-month window to rectify the situation, during which it can regain compliance if its share price reaches $1 on the last trading day of any calendar month.
Binance Officially Announces Departure from Venture Capital Arm
Binance Labs has detached its connection to the Binance exchange and is now a stand-alone venture funding arm. The division aims to provide resources from the larger Binance ecosystem as well as one-on-one mentoring and investment in early-stage Web3 startups.
Podcasts and Interviews
- “The TRUTH about this crypto bull run” podcast by Hashoshi
- “Secrets of Crypto In India!” podcast by Varun Mayya
- “Bitcoin Hits $72,000” podcast by Scott Melkar
Job Listings
- Compiler Developer | Certora
- Protocol Engineer | Waku
- Technical Writer | Powerloom
- Software Engineer and Staff Software Engineer | MetaMask Staking
- TypeScript Developer | Sourcify
- Protocol Researcher | Netherminds
2k24 Events
- ETH Canal conference & hackathon from March 19 to March 21
- ETHTaipei conference & hackathon from March 21 to March 24
- ETHSamba (Rio) from March 22 to March 24
- Ethaly (Savelletri di Fasano, Italy) from March 24 to March 29
- ETH Bucharest conference & hackathon from March 27 to March 30
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!
