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FameEX Morning Crypto News Recap | December 6, 2023

2023-12-06 12:39:30

Blackrock and Bitwise Revise Their Bitcoin Spot ETF Proposals Amid Rising Expectations for SEC Approval

Blackrock and Bitwise, leading financial firms, have updated their applications for spot bitcoin exchange-traded funds (ETFs) with the U.S. Securities and Exchange Commission (SEC). Recently, the SEC conducted meetings with exchanges and ETF issuers to discuss these applications. A Bloomberg analyst noted that both the SEC and issuers are diligently working to resolve any issues.

Indian Government Discloses 28 Cryptocurrency Service Providers Registered with Financial Intelligence Unit

The Indian government disclosed that 28 cryptocurrency service providers are registered with India's Financial Intelligence Unit. The Ministry of Finance also stated that anti-money laundering norms and reporting mandates extend to international crypto exchanges that serve the Indian market, ensuring regulatory compliance across domestic and foreign platforms.

Bitcoin's Price Surges in South Korea, Trading at $1,500 Higher Than Worldwide Average

Recent data indicates that bitcoin's rise above $41,000 has led to a notable uptick in trading from South Korea. Accompanying this increased activity, bitcoin is now trading at a $1,500 premium on key South Korean crypto exchanges, reflecting a substantial price differential compared to global market rates.

US Finance Platform Sofi Confirms Withdrawal from Cryptocurrency Market

Effective December 19, Sofi, a financial services provider, will cease its crypto services. This move comes in response to heightened scrutiny from banking regulators on the crypto industry. Sofi has detailed on its website the necessary procedures for customers who opt to transfer their accounts to during this transitional phase.

Crypto Companies in the US Increased Lobbying Expenditure in 2023, Surpassing Pre-FTX Collapse Levels

A Reuters report on December 5, referencing data from Open Secrets, revealed that from January to September 2023, cryptocurrency firms in the U.S. spent about $19 million on lobbying. This expenditure represents a 19% increase compared to the same timeframe in 2022, highlighting a significant uptick in lobbying efforts within the crypto industry.

Italy and South Korea's Central Banks Form Alliance for CBDC Collaboration

On December 5, Banca d'Italia, Italy's central bank, declared through official channels its collaboration with the Bank of Korea in South Korea. This partnership, formalized through a memorandum of understanding, focuses on IT and payment systems. It involves the exchange of knowledge and information, particularly in the realm of information and communication technology (ICT) issues.

Singapore Unveils National AI Strategy 2.0, Aims to Cultivate 15,000 AI Specialists

Singapore's government unveiled its National AI Strategy 2.0 on December 4, emphasizing innovation and addressing AI challenges. The plan aims to train 15,000 local AI experts through expanded training programs and remains open to global talent. This strategy underscores Singapore's commitment to harnessing AI's potential, effectively managing risks, and leading in AI development and adoption.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.

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