569:CFTC Proposes Rule Overhaul::Silvergate Approves Liquidation Plan::USDC Native on Arbitrum

Overnighters,

Episode 569:
CFTC Proposes Rule Overhaul
Silvergate Approves Liquidation Plan
USDC Native on Arbitrum
and More

Collect the Cover: awrd.gg/5178

The TL;DL

CFTC Proposes Rule Overhaul - The U.S. CFTC is proposing a rule overhaul to address risks associated with digital assets. The proposal is in the preliminary stage, inviting public comments.

Silvergate Approves Liquidation Plan - Silvergate Bank is to submit a self-liquidation plan following business failure. The bank's downfall is attributed to its dealings with the now-defunct crypto exchange FTX.

Silbert and DCG Request Consolidation - DCG and CEO Barry Silbert seek to consolidate two class-action lawsuits related to losses during the crypto winter, citing shared facts and legal issues.

USDC Native on Arbitrum - Circle plans to launch a native version of its USDC stablecoin on the Arbitrum network to enhance transaction speed and eliminate withdrawal delays.

FATF Criticizes Qatar - The FATF criticizes Qatar for lax enforcement against crypto companies violating a 2019 ban, urging the Qatar Central Bank to sanction violators more proactively.

China’s Blockchain Standards - China's MIIT introduces a new national standard for blockchain development, aiming to regulate its use and expedite progress despite the country's crypto ban.

Singapore’s Stablecoin Rules - Singapore's MAS urges crypto firms to enhance customer due diligence procedures, requesting more comprehensive information about accounts and transactions.

Crypto Overnighter Podcast (6/2/2023): Welcome back to the Crypto Overnighter with your host, Nikodemus. We provide nightly updates on cryptocurrency, NFTs, the metaverse, and the surrounding industry. Remember, this show does not offer financial advice.

Email: nick@cryptoovernighter.com
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