● Invesco and Galaxy submit fifth spot Ethereum ETF application
According to Foresight News, Bloomberg ETF analyst James Seyffart tweeted that Invesco US and Galaxy have applied for a spot Ethereum ETF, which is the fifth spot Ethereum ETF application. The application was first submitted on September 29, and this version is an amendment.
● Tesla has not bought or sold Bitcoin for five consecutive quarters
According to BlockBeats, Tesla's latest quarterly financial report shows that no Bitcoin was bought or sold in the third quarter of 2023. This is the fifth consecutive quarter without any buying or selling operations. As of September 30, Tesla held approximately 9,720 Bitcoins with a market value of approximately US$275.6 million.
As previously reported, Tesla's second quarter 2023 financial report showed that no Bitcoin was bought or sold in the quarter. As of the end of the second quarter, the digital assets held by Tesla were worth $184 million. Since the first quarter of 2023, Tesla's Bitcoin holdings have remained consistent for four consecutive quarters.
● Yuga Labs reorganization completed, will focus on building Otherside
According to The Block, Yuga Labs CEO Daniel Alegre said that the Yuga Labs reorganization has been completed and the team will focus on developing its interoperable metaverse Otherside while supporting the existing community.
● Vitalik: Never "sold" ETH for personal gain since 2018
Vitalik Buterin posted on X (original Twitter): "If you see an article saying 'Vitalik sent XXX ETH to (exchange)', it's not actually me who is selling it. It's almost always me donating to some charity, non-profit organization or other project, and the recipient is selling it because they need to pay the fees. I haven't 'sold' ETH for personal gain since 2018."
● EU officials: Relaxed securities regulations will become the norm
According to CoinDesk, an EU official said that EU securities regulations that have been relaxed to encourage distributed ledger technology may become the norm. The industry is worried that the system may inhibit investment in blockchain projects. The EU is one of several jurisdictions in the world that are trying blockchain technology. A recent study shows that blockchain technology can save financial markets $100 billion a year by releasing collateral and automating back-office processes. Starting in April, the EU relaxed financial services rules to allow securities traders to interact with the market and let exchanges directly register tokens instead of using regulated intermediaries such as brokers and depositories.
● ECB: DAO needs a comprehensive regulatory framework
According to Cointelegraph, the European Central Bank (ECB) interim paper (OP) suggests that decentralized autonomous organizations (DAOs) need a comprehensive regulatory framework if they want to have a place in the future financial sector.
● The Singapore Attorney General's Chambers has set up a virtual currency task force to focus on dealing with virtual currency and other issues
According to Lianhe Zaobao, Singapore's Deputy Chief Public Prosecutor Wang Shouren of the Attorney General's Chambers said that in general, there are two main forms of technology crimes. One is technology-enabled crime, which is a crime directly related to technology, such as hacking into computer systems; the other is technology-facilitated crime, which is a traditional crime that is completed with the assistance of technology, such as digital forgery, online harassment and fraud. The Attorney General's Chambers officially established two task forces this year to meet new challenges, namely the Technology Crime Task Force. The Technology Crime Task Force mainly deals with computer or technology-assisted crimes, as well as handling digital evidence and other matters. The Virtual Currency Task Force focuses on various issues caused by virtual currency as an asset, including assisting the Singapore Police Force in tracking, seizing and disposing of such assets.
● South Korea's Financial Intelligence Agency reorganized to strengthen anti-money laundering supervision
According to the Daily Planet, the Financial Intelligence Unit (FIU) of the Financial Services Commission of South Korea is undergoing an organizational restructuring. The restructuring of the FIU will replace the Virtual Asset Inspection Office, the Planning Management Office, and the System Operation Office with the Anti-Money Laundering Inspection Office, the Anti-Money Laundering General Office, and the Anti-Money Laundering Supervision Office, respectively. The Inspection Office will be responsible for casino and anti-money laundering inspections, the General Office will be responsible for supervising the Specific Financial Information Act (Special Act), and the Supervision Office will be responsible for anti-money laundering assessments and training.
A Financial Services Commission official said the issue was discussed at a meeting last week and while it is still a draft, a three-department system is likely to be adopted.
In addition to the reorganization, the FIU will also set up a separate organization to comprehensively regulate cryptocurrencies. The Virtual Assets Law stipulates the power of financial authorities to protect user assets, regulate unfair practices, and supervise and sanction, and requires the Financial Intelligence Agency to formulate decrees and implementation rules to monitor unfair trading practices. In addition, the FIU needs to conduct research on virtual assets, the distribution and issuance of stablecoins, and how to establish comprehensive disclosure, and report progress to the National Assembly.
● Fed's Harker: The Fed should extend the pause period of interest rate hikes
According to the Wall Street Journal, Fed's Harker believes the Fed should extend the pause in rate hikes.
● Binance Academy plans to provide blockchain education to more than 1 million students by 2026
Binance Academy and Blockchain Center have joined forces to expand their Global University Outreach Program, with the goal of incorporating blockchain education into the curriculum of more than 200 universities in more than 50 countries. The partnership aims to train more than 300 academic professionals and build an academic knowledge base that will enable more than 1 million students to receive blockchain engineering and compliance education by 2026.
● Binance FZE: Regulatory clarity in the Middle East drives cryptocurrency industry growth
Alex Chehade, head of business at Binance FZE, Binance's Dubai subsidiary, said that the Middle East's advanced regulatory framework is a major attraction for startups and mature industry players, and the Middle East stands out for regulatory certainty and clarity. In Dubai, there is a regulatory agency specifically for virtual assets, VARA. There is ADGM (Abu Dhabi Global Financial Center) and the virtual asset framework, and the Central Bank of Bahrain accepts cryptocurrencies.
Chehade said Binance currently has about 600 employees in its operations in Dubai and will continue to play a role in promoting the industry. He added that Binance FZE has been operating in Dubai as a regulated exchange for a year and a half and is separated from other global businesses through strict custody and operations.
