Friday June 30, 2023
◾ Fidelity Digital filed an application for a spot bitcoin ETF. (Marketwatch)
◾ Executives at more than 150 companies signed a letter warning proposed EU regulations could hinder technologies like generative AI by increasing compliance costs and disproportionate liability risks. (Reuters)
◾ The Bank of New Zealand intends to increase oversight of stablecoins and crypto assets to alleviate potential risks to the financial system. (Reuters)
I plan to publish BitDigest tomorrow but am taking off July 3rd and 4th. BitDigest will be published on an abbreviated schedule next week starting Wednesday.
Government & NGO Actions
◾ South Korea’s parliament passed the Virtual Asset User Protection bill which combined 19 crypto-related laws and gives the Financial Services Commission the power to oversee crypto operations and custodians. (Bloomberg)
◾ The Federal Trade Commission released a blog discussing competitive concerns that could be raised by generative AI. (FTC.gov)
◾ Canada’s House of Commons released a report on blockchain finding the technology has “the potential to digitalize the parts of our economy that have not been digitalized already, unlocking efficiencies and value similar to previous waves of digitalization.” (Ourcommons.ca)
◾ Lawmakers in Slovakia votes to cut taxes on crypto assets bringing the new tax rate to 7%. (Coindesk)
◾ Senator Michael Bennet (D-CO) wrote to leaders of major tech and generative AI companies asking them to identify and label AI-generated content, and to take steps to limit the spread of AI-generated content designed to mislead users. (Senate.gov)
Public Company Releases
◾ Hive Blockchain (HIVE) reported 2023 full year revenue of $106.3 million with a loss of $57 million excluding non-cash expenses. (Hiveblockchain)
◾ The CME plans to launch Ether/Bitcoin Ratio futures on July 31, pending regulatory review. (PRnewswire)
Restructuring, Losses and Legal News
◾ Bitcoin investment app Coinbits is suspending services due to the collapse of Prime Trust. (Twitter)
◾ South African crypto platform Revix announced the need to withhold 24% of clients crypto assets due to suspension of activity at South Korean virtual asset service provider Haru. (Revix)
◾ NFT collectables firm Candy Digital announced a corporate lay off but is merging with Palm NFT Studio. (Decrypt)
Protocols, Applications & Business News
◾ Stablecoin wallet Rpay secured a license from the US Office of Foreign Asset Control to offer its product in Venezuelan to help citizens under the Maduro regime protect their savings from hyperinflation and devaluation. (PRweb)
◾ The Blockchain Association issued a form call for SEC Chair Gary Gensler to recuse himself from decisions concerning digital asset enforcement actions. (Theblockchainassociation)
◾ Vodaphone is preparing to launch an NFT collection on Cardano (ADA). (Findbold)
Market Data
◾ Bitcoin’s difficulty slid 3.26% on Wednesday falling for the first time in 4-periods and for only the 4th time this year. (Btc.com)