Bolivia lifts ban on Bitcoin and other cryptocurrencies
According to Cryptopolitan, Bolivia has lifted its ban on Bitcoin and other cryptocurrencies. The ban came into effect in December 2020. On June 26, the Central Bank of Bolivia (BCB) officially announced that banks can now conduct cryptocurrency transactions. Although cryptocurrencies can now be traded through authorized electronic channels, the Bolivian Central Bank reminds citizens that cryptocurrencies are not considered legal tender.
21Shares Submits Ethereum Spot ETF Registration Application to the US SEC
ETF analyst Henry Jim tweeted that 21Shares submitted an Ethereum spot ETF securities registration application (Form 8-A12B) to the US SEC. The submission of the Form 8-A document means that once the issuer's product is approved, it can be traded on the exchange.
U.S. Supreme Court rules SEC's use of internal judicial process to bring charges is unconstitutional
The Supreme Court just ruled 6-3 that when the Securities and Exchange Commission (@SECGov) seeks penalties for fraud, defendants are entitled to a jury trial in federal court, rather than the agency's "internal" legal process, Fox Business reporter Eleanor Terrett reports. This move effectively ties all federal agencies, not just the SEC (@SECGov), because they must try to try cases in federal court. The Supreme Court ruled that it is unconstitutional for the SEC to use internal judicial proceedings to bring charges.
Türkiye imposes up to 22 years in prison on unauthorized cryptocurrency providers
According to turkiyetoday, the Turkish Parliament passed the Capital Markets Law Amendment, introducing new regulations on crypto assets, the main contents of which include:
1. The Capital Markets Board (SPK) now has the power to oversee cryptocurrency trading and “impose measures and sanctions” such as freezing and seizing funds. Platforms must develop written listing procedures to determine which crypto assets will be traded or offered and distributed for the first time and comply with the SPK’s principles and regulations.
2. Individuals and legal persons who operate crypto-asset services without authorization will face 3 to 5 years in prison; service providers who misappropriate entrusted funds or assets, including crypto-assets, will face 8 to 14 years in prison and will be required to pay compensation for losses; if the crime involves deceptive behavior to conceal the misappropriation of public funds, the offender will face 14 to 20 years in prison; individuals who are found to have illegally used the resources of a revoked crypto-asset service provider for personal or third-party benefits will face 12 to 22 years in prison.
3. The platform price will be determined freely, and a monitoring system must be established and all preventive measures must be taken to detect, prevent and avoid behaviors that disrupt the market; the platform should identify and report behaviors and transactions that disrupt the market order, take necessary measures such as restricting, suspending, and closing the accounts involved, and report to SPK.
4. SPK will formulate regulations on investment consulting and portfolio management related to crypto assets. Authorization certificates will be issued to crypto asset service providers to carry out their activities. Banks will need to obtain approval from the Banking Regulatory Authority (BDDK).
Meta to launch user-created chatbot feature on Instagram
According to Cryptopolitan, Meta announced that it will launch a user-created chatbot feature on Instagram. This feature allows creators to generate their own AI version and answer fans' questions through the AI Studio tool. The first batch of tests will be conducted in the United States and is scheduled to be fully launched in August, initially covering 50 creators and some users. Creators can use these AI robots to improve interaction with fans while maintaining timely responses to each question.
Asset management agency VanEck has submitted Solana Trust application documents to the US SEC
According to SEC documents, asset management agency VanEck has submitted an application document for Solana Trust (VANECK SOLANA TRUST) to the US SEC. VanEck Solana Trust is an ETF that issues equity common shares, which are expected to be listed and traded on Cboe BZX Exchange Co., Ltd., subject to the issuance notice. The investment objective of the trust is to reflect the price performance of Solana, minus the operating expenses of the trust. To achieve its investment objectives, the trust will hold SOL and value its shares daily based on the MarketVectorTM Solana benchmark exchange rate. Neither the trust, the sponsor, the SOL custodian, nor any other person associated with the trust will take any action, directly or indirectly, to use any SOL portion of the trust to earn staking rewards, earn additional SOL, or generate income or other income (collectively, "staking activities"). The trust currently subscribes and redeems only in cash. The issuance of trust shares has been registered with the U.S. Securities and Exchange Commission under the Securities Act of 1933 (as amended).
Worldcoin’s World ID is coming to Solana, powered by Wormhole
Cross-chain interoperability platform Wormhole announced on X Platform that Worldcoin’s World ID will soon be available on Solana, powered by Wormhole.
Coinbase Announces Lawsuit Against SEC, FDIC Over Freedom of Information Act Dispute
According to Blockworks, Coinbase announced on Thursday that it was filing a lawsuit against the U.S. Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC) for failing to obtain authorization for a Freedom of Information Act (FOIA) request. In 2023, Coinbase hired consulting firm History Associates Incorporated to assist in obtaining records from the two agencies, but the requests were rejected. History Associates then filed a lawsuit on behalf of Coinbase, demanding that the SEC and FDIC hand over relevant documents.
MegaETH developer MegaLabs completes $20 million seed round of financing, Dragonfly leads the investment, Vitalik and others participate
According to The Block, MegaLabs, the developer of the new blockchain MegaETH, announced the completion of a $20 million seed round of financing, led by Dragonfly, with participation from Figment Capital, Robot Ventures, Big Brain Holdings and other companies. Angel investors in this round of financing include Ethereum co-founder Vitalik Buterin, ConsenSys founder and CEO Joseph Lubin, EigenLayer founder and CEO Sreeram Kannan, ETHGlobal co-founder Kartik Talwar, Helius Labs co-founder and CEO Mert Mumtaz, Santiago Santos, Hasu and Jordan Fish (also known as Cobie).
MegaLabs co-founder and chief business officer Shuyao Kong said the company began raising money for its seed round in December and closed it in May. Kong said the round, structured as equity plus token warrants, gave MegaETH a fully diluted token valuation of "nine figures," meaning at least $100 million.
According to reports, MegaLabs was founded in early 2023 by Shuyao Kong, former global business development director of Consensys, and Yilong Li, who holds a Ph.D. in computer science from Stanford University and worked at software company Runtime Verification Inc. Kong added that he continues to serve as an advisor to Consensys. MegaETH's two key technologies - heterogeneous blockchain architecture and "ultra-optimized" EVM execution environment - help it achieve 100,000 TPS in real time. MegaETH's public testnet will be launched in early autumn, and the mainnet is expected to be launched at the end of the year. When asked whether MegaETH's native token would be launched at the same time as the mainnet, Kong said no decision had been made.
Decentralized oracle network developer AnchorZero completes $8 million seed round
AnchorZero, a decentralized oracle network developer, announced the completion of an $8 million seed round of financing, led by Bain Capital Crypto and Spark Capital, with participation from Ethereal Ventures, Mischief Fund, Pascal Capital, Robot Ventures, and Sarah Meyohas. AnchorZero is a blockchain technology company that specializes in developing decentralized cross-chain oracle networks, providing secure and reliable price feed data services for smart contracts, allowing access to external data of smart contracts on multiple platforms. In addition, they also provide Web3 tax planning solutions.
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