Month: January 2024

South Korea’s Financial Regulator Says US Bitcoin ETFs Defy Local Law

Authorities in South Korea have warned local financial institutions from offering spot crypto ETFs following SEC approval in the US. South Korea’s financial regulator, the Financial Services Commission (FSC), has said that the spot Bitcoin ETFs recently approved in the US may contravene the country’s law. In an official statement published on Friday, the regulator sounded a note of warning without providing extensive details: “Domestic securities firms brokering overseas-listed Bitcoin spot ETFs may violate the existing government stance on virtual assets and the Capital Markets Act.” Last month, FSC Chief Kim So-young…

Ethereum Classic Explodes Over 50% In Massive Price Jump

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The long-awaited arrival of a Bitcoin spot ETF in the US has sparked a surge in cryptocurrency prices, with Ethereum Classic leading the charge among altcoins. After languishing around $20 for months, Ethereum Classic (ETC) has skyrocketed over 50% in the past seven days, currently hovering around $29.45 and just a breath away from reclaiming the $30 mark. This impressive rally comes amidst a broader market upswing triggered by the Securities and Exchange Commission’s (SEC) historic approval of the Bitcoin Trust ETF on January 10th, 2024. ETC price action in…

BNB Beacon Chain Fusion Releases Six-Month Plan

BNB Chain intends to disable its atomic swap feature in April and all Bridge providers will be expected to begin informing users by February. We are in the first few weeks of 2024 and the scene is seemingly being set for the rest of the year. The industry is still on a high note from the recently- announced Bitcoin spot ETF approval but even more news is rolling in. The latest comes from BNB Chain, which recently announced the six-month roadmap for its BNB Beacon Chain Fusion. The roadmap was…

SEC Seeks Key Documents from Ripple in Ongoing Legal Battle

The legal battle between the SEC and Ripple stems from the SEC’s allegation that Ripple engaged in unregistered securities sales, specifically through institutional sales of XRP. In a recent filing dated January 11, 2024, the US Securities and Exchange Commission (SEC) has requested specific documents from Ripple Labs Inc as part of the ongoing legal proceedings between the regulatory body and the blockchain payments company.  SEC’s Document Requests and Interrogatory The two main categories of documents outlined in the SEC’s filing include Ripple’s financial statements and contracts governing institutional sales of…

BTC Miner Outflows Spark Mixed Signals as Bitcoin ETF Debuts

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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…

Bitcoin ETF Provider Valkyrie to Be Bought as CoinShares Adds U.S. Arm

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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…

Korea’s FSC bars local brokers from offering spot Bitcoin ETFs overseas

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South Korea’s financial regulator has declared that domestic securities firms are barred from offering spot Bitcoin exchange-traded funds (ETFs) in international markets. South Korea‘s Financial Services Commission (FSC) said in a press release on Jan. 12 that domestic securities firms cannot offer spot Bitcoin ETFs overseas, as it may violate the existing government stance on virtual assets. Despite the ban, the FSC acknowledged the possibility of reviewing its stance on crypto regulation, without providing specific details. As per Korean news outlets, the local securities forms, including Mirae Asset Securities and…

Robinhood Lists All 11 New Spot Bitcoin ETFs

US-based customers may now access all 11 spot Bitcoin ETFs in both retirement and brokerage accounts through Robinhood Financial. Robinhood has stayed true to its word by listing all new spot Bitcoin exchange-traded funds (ETFs) on its platform. The US Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs on Wednesday, including funds from BlackRock, Grayscale, Fidelity, Invesco, Valkyrie, Bitwise, Hashdex, BZX, VanEck, WisdomTree, and Franklin Templeton. Shortly after the landmark decision by the SEC to approve those spot Bitcoin ETFs, Robinhood CEO Vlad Tenev revealed the company’s next line…

Shiba Inu Burn Rate Skyrockets Over 300% As Price Sheds A Zero

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The Shiba Inu burn initiative has been one of the most notable developments this week that has gained the interest of the crypto community, witnessing massive surges in its token burn rate in the past few days. Shiba Inu Burn Rate On The Rise Data from Shiba Inu burn tracker Shibburn shows that the SHIB burn rate has increased significantly in the past 24 hours. According to the tracking platform, the burn rate has witnessed a 395.43% uptick today, January 12. The tracker reveals that over 18 million SHIB tokens…