612: SEC Reviews and Crypto Adoption in the Philippines

Overnighters,

Episode 612:
SEC Reviews BTC ETF Applications
Crypto Snowballs in The Phillipines
EU Smart Contract Kill Switch
and More

The TL;DL

SEC Reviews BTC ETF Applications - The U.S. SEC has begun reviewing applications for Bitcoin ETFs from major players like Wise Origin, WisdomTree, VanEck, Invesco Galaxy, and ARK 21Shares. This move signifies a step towards mainstream acceptance of Bitcoin.

Crypto Snowballs in The Philippines - The Philippines is rapidly adopting crypto and blockchain technologies, with international organizations showing interest in launching projects there. The government's supportive stance is fostering an environment for these technologies to thrive.

Will the SEC Appeal? - The ongoing legal battle between Ripple and the SEC continues, with former SEC official John Reed Stark voicing concerns about a recent ruling favoring Ripple. The case has sparked debate about the need for clear regulatory frameworks in the crypto industry.

FSB’s Latest Game-Changer - The Financial Stability Board, a group of global regulators, is calling for stricter rules on crypto in response to allegations of misconduct against companies like FTX and Celsius, highlighting the need for safeguarding crypto clients' assets.

EU Smart Contract Kill Switch - The European Union is pushing forward with its new Data Act rules, which could potentially make most smart contracts illegal. Despite industry outcry, the EU is moving ahead with these rules, posing a significant threat to the blockchain industry.

NAB Blocks Crypto Exchanges - The National Australia Bank is blocking certain cryptocurrency exchanges, citing a high risk of scams. This move is part of a wider strategy to combat scams and protect customers, but it could also limit the freedom that cryptocurrencies offer.

Crypto Overnighter Podcast (7/17/2023): 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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