• Fidelity, VanEck, and other companies have refiled their spot Bitcoin ETF applications with the SEC.
• South Korea has passed new crypto legislation to protect investors.
• BNY Mellon’s crypto custody venture runs afoul of SEC rules and Kraken has been ordered to provide IRS with user data.
Fidelity, VanEck Refile Spot Bitcoin ETF Applications
Fidelity, VanEck, and more recently refiled their spot Bitcoin ETF applications with the U.S. Securities and Exchange Commission (SEC) after reports of rejections from the agency. The recent applications fell short of the SEC’s expectations on a technicality but are not completely out of the running yet.
South Korea Passes New Crypto Legislation
South Korea has recently passed new cryptocurrency legislation in order to better protect investors within its borders. The law focuses on investor protections as well as preventing money laundering activities through cryptocurrencies.
BNY Mellon Crypto Custody Venture Runs Afoul Of SEC Rules
BNY Mellon’s cryptocurrency custody venture has recently run afoul of U.S. securities laws due to its failure to register as an investment company under federal regulations governing custodial services for digital assets like bitcoin (BTC). As a result, it is now subject to a cease-and-desist order from the SEC unless it takes action to comply with these regulations soon or receive approval for an exemption from them.
Vodafone Confirms Cardano NFT Plans
Vodafone recently confirmed rumors that it is planning a Non-Fungible Token (NFT) project based on Cardano’s blockchain technology . It is expected that this project will enable users to buy virtual items such as avatars or gaming assets using ADA tokens which can be exchanged for fiat currency at any time on Vodafone’s platform. This could significantly increase adoption and usage of both Cardano and cryptocurrency in general among everyday consumers around the world by making them easier to access than ever before.
Kraken Ordered To Provide IRS With User Data
The exchange platform Kraken was recently ordered by a court filing to provide information about its users who traded $20,000 worth of cryptocurrency over a one-year period between Jan 1st 2016 and Dec 31st 2020 . This includes identifying information such as user names, birth dates, tax numbers, addresses, contact information etc., however requests for KYC/AML data , employment status , net worth , source of wealth etc were refused by the court ruling .