The United States Securities and Exchange Commission (SEC) has unveiled crucial updates on the eagerly anticipated approval process for spot Bitcoin exchange-traded funds (ETFs). The approval, expected in January 2024, has heightened speculation about the future trajectory of Bitcoin. The SEC has disclosed that the initial wave of potential spot
Crypto firms are increasing their donations to U.S politicians at a time when the market for cryptocurrencies is being closely monitored by regulators in Washington. Some major participants are increasing their funding to help elect pro-crypto lawmakers and forward legislation that has stagnated in Congress. These include Circle, Coinbase, and
The Japanese government adopted the framework for crypto tax reform for fiscal year 2024 at a cabinet meeting that took place on December 22nd. A major adjustment affecting firms holding crypto assets comes with this change. Corporations owning virtual currencies issued by third parties are no longer subject to the
Investors and the Nigerian economy stand to benefit from the new stablecoin, the cNGN, which is being developed and managed by a consortium of Nigerian institutions. Anonymous insiders within the project have confirmed that the cNGN token is linked to and supported by the Nigerian naira, the official currency of
The president of Turkey, Recep Tayyip Erdogan, has added Prof. Dr. Fatma Ozkul to the panel of crypto specialists. Fatma Ozkul, a professor specializing in blockchain technology and crypto assets, has been formally selected to serve on the Monetary Policy Committee of Turkey’s Central Bank. Moreover, the appointment of Fatma
The cryptocurrency market is now experiencing an upswing due to the upcoming halving and the anticipation of a spot Bitcoin ETF. Surprisingly, Bitcoin has emerged unscathed from its 2022 slump, adding almost $530 billion to its market valuation with a 160% increase in value this year. There has been a
Constraints on Nigerian banks aiding cryptocurrency transactions have been removed by the Central Bank of Nigeria (CBN), almost two years after a complete ban on banks working with digital currencies was enforced. Moreover, the CBN acknowledged in a circular addressed to banks on December 22 that the rising worldwide demand
China appears to be embracing the digital asset revolution, signaling a major shift in its stance on cryptocurrencies. Despite a strict crypto trading ban in 2021 that led to a market shack, the country is now expressing a newfound commitment to the development of the crypto industry. The Ministry of
There was a significant increase in the number of crypto firms registered to operate in Spain in 2023. The official record, which is available as an Excel document on the website of Spain’s central bank, states that 30 businesses were licensed to offer virtual asset services in 2023. The number
The Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA), two of Hong Kong’s financial regulatory agencies, have made headlines in the cryptocurrency spot ETF market with their announcement. The SFC and the other relevant authorities have announced their intention to begin accepting applications to authorize VA
