FameEX Morning Crypto News Recap | June 27, 2024

SEC Could Approve Ethereum Spot ETF on July 4

The U.S. SEC may approve the Ethereum spot ETF as early as July 4, with negotiations between asset management companies and regulators in the final stage. Eight firms, including BlackRock, VanEck, Franklin Templeton, and Grayscale, are seeking approval. They reported that the process of revising issuance documents has progressed to the point where only "minor" issues remain.

Nigeria’s Securities and Exchange Commission Orders Cryptocurrency Exchanges and Digital Asset Traders to Re-register Within 30 Days

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

South Korea to Implement Virtual Asset User Protection Act, Emphasizing NFT Regulation

South Korea will soon implement the Virtual Asset User Protection Act, introducing a strict regulatory framework for the digital asset market to enhance transparency and security. The law focuses on NFTs, requiring companies that issue NFTs deemed virtual assets to comply with stringent assessment and reporting standards.

Oregon Senator Ron Wyden Backs Overturning SEC Rules, Advocates for Stricter Cryptocurrency Regulation

U.S. Senator Ron Wyden of Oregon voted to overturn the SEC's Staff Accounting Bulletin 121, citing concerns about personal and financial privacy. Wyden emphasized the need for a robust regulatory system for cryptocurrencies, arguing that proper regulation is essential for the industry's development and security.

Brazilian Stock Exchange B3 Considering ETH Futures Contracts

The Brazilian Stock Exchange B3 is planning to expand its cryptocurrency trading options by offering ETH futures contracts. As a pioneer in cryptocurrency-related trading products in Latin America, B3 aims to attract institutional investors seeking to diversify their traditional or cryptocurrency portfolios through additional options.

Bank for International Settlements Urges Central Banks to Adopt AI, Anticipating Major Economic and Financial Impact

The Bank for International Settlements (BIS) urged central banks to adopt artificial intelligence (AI), anticipating its 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 stressed the importance of incorporating AI to enhance financial and price stability.

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