FameEX Morning Crypto News Recap | June 27, 2024

SEC Likely to Approve Ethereum Spot ETF on July 4

The U.S. SEC might approve the Ethereum spot ETF by July 4, with negotiations in the final stage. Eight firms, including BlackRock, VanEck, Franklin Templeton, and Grayscale, are seeking approval, reporting that the issuance documents are nearly complete, with only "minor" issues left to resolve.

Nigeria’s SEC Mandates Cryptocurrency Exchanges and Digital Asset Traders to Re-register Within 30 Days

The Nigerian SEC has ordered cryptocurrency exchanges and digital asset traders to re-register within 30 days or face enforcement action. This move is part of Nigeria's regulatory plan for digital asset trading, aiming to amend rules on digital asset issuance, offering platforms, exchanges, and custody of virtual asset service providers (VASPs).

South Korea to Enforce Virtual Asset User Protection Act with Focus on NFT Regulation

South Korea will soon enforce the Virtual Asset User Protection Act, establishing a strict regulatory framework to enhance digital asset market transparency and security. The law emphasizes NFT regulation, mandating companies issuing NFTs classified as virtual assets to adhere to stringent assessment and reporting standards.

Oregon Senator Ron Wyden Supports Overturning SEC Rules and Advocates Stricter Cryptocurrency Regulation

U.S. Senator Ron Wyden of Oregon voted to overturn the SEC's Staff Accounting Bulletin 121, citing concerns over personal and financial privacy. Wyden stressed the necessity of a robust regulatory framework for cryptocurrencies, arguing that proper regulation is crucial for the industry's growth and security.

Brazilian Stock Exchange B3 Contemplates Offering ETH Futures Contracts

The Brazilian Stock Exchange B3 plans to offer ETH futures contracts, expanding its cryptocurrency trading options. As a pioneer in Latin America's crypto-related trading products, B3 aims to attract institutional investors looking to diversify their traditional or cryptocurrency portfolios.

Bank for International Settlements Encourages Central Banks to Embrace AI, Foreseeing Significant Economic and Financial Effects

The Bank for International Settlements (BIS) urged central banks to adopt artificial intelligence (AI) due to its expected significant impact on the economy and financial system. In a pre-release chapter of the 2024 Annual Economic Report, the BIS highlighted AI's potential to influence inflation trends and emphasized the need to incorporate AI for enhanced financial and price stability.

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