The Ethereum Foundation Faces Regulatory Scrutiny Amid SEC Investigation
BlackRock Initiates Asset Tokenization to Advance Financial Infrastructure
EU Committees Greenlight Ban on Anonymous Crypto Transactions, Tightening AML Regulations
The Ethereum Foundation, central to the Ethereum ecosystem, is under the lens of an unnamed state authority, as revealed through its GitHub repository. This inquiry coincides with pivotal changes in Ethereum’s technology and the potential reclassification of its native asset, ETH, as a security by the Securities and Exchange Commission (SEC). Fortune’s report indicating the SEC’s move to classify ETH as a security has stirred significant implications for Ethereum and the broader crypto landscape. Investigative subpoenas sent to U.S. companies underscore the depth of the inquiry, though its exact focus remains undisclosed. The removal of disclosure statements and a warrant canary from the Ethereum Foundation’s website further heightens concerns. Analysts speculate on the SEC’s stance regarding Ether ETF applications, with skepticism prevailing amid a perceived lack of engagement between applicants and regulatory officials.
BlackRock, the world’s largest asset manager, has signaled a significant move towards financial innovation with the filing of the BlackRock USD Institutional Digital Liquidity Fund with the United States Securities and Exchange Commission (SEC). The fund, set to be tokenized on the Ethereum blockchain under the ticker BUIDL, represents BlackRock’s inaugural foray into tokenized asset funds. CEO Larry Fink underscores the transformative potential of asset tokenization, emphasizing its role in streamlining financial processes, enhancing transparency, and combating illicit activities. Partnering with Securitize, a U.S. digital assets securities firm, BlackRock aims to pioneer a new era of instantaneous settlement and heightened accessibility to traditional financial instruments through blockchain technology.
A significant development emerges from the European Parliament as a majority of its lead committees endorse a ban on cryptocurrency transactions via hosted wallets, as part of expanded Anti-Money Laundering (AML) and Counter-Terrorist Financing laws. This move, ratified on March 19, signals a broader regulatory framework encompassing the cryptocurrency market. Notably, the ban targets transactions conducted through third-party custodial wallets, affecting centralized exchanges. The legislation also imposes restrictions on cash transactions, with anonymous payments exceeding 3,000 euros in commercial transactions and 10,000 euros in business transactions prohibited. While proponents argue for enhanced financial transparency, dissenters like Patrick Breyer stress concerns over compromised economic independence and privacy infringement. The crypto community remains divided, with some advocating for necessary safeguards while others fear potential constraints on economic activity and privacy rights within the EU.
News
Ethereum Foundation Faces Inquiry From a Government; Fortune Says SEC Investigating ETH
Celsius seeks to claw back $2B in customer withdrawals: Report
‘Unpatchable’ flaw in Apple M-series chip may allow access to encrypted data
Binance offers $5M reward for insider trading tip-offs
Products
BlackRock begins asset tokenization with launch of digital liquidity fund $BUIDL
Robinhood launches crypto wallet for Android users
Worldcoin makes Orb software open-source, implements ‘personal custody’
Southeast Asia super-app Grab offers crypto payment options in Singapore
Regulation
EU committees approve ban on anonymous crypto transactions via hosted wallets
SEC hit with sanctions for its ‘gross abuse of power’ in Debt Box case
SEC pushes back decision on Grayscale Ether futures ETF
WisdomTree wins NYDFS trust company charter
Funding
Anthropic weighs slate of sovereign wealth funds to acquire FTX’s $1 bln stake, CNBC reports
Crypto Fund Hack VC Looks to Raise Even More Capital for Seed Stage Digital-Asset Bets
Crypto Compliance Platform Keyring Raises $6M to Unlock DeFi for Institutions
Web 3 Startup Tensorplex Labs Raises $3M Seed Funding to Decentralize AI
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