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Ex-SEC Chairman of Bitcoin Regulation, New BTC ETF, N Korean Crypto Hackers + More News

Source: iStock / pichet_w

Get your daily bite-sized review of Cryptoasset and Blockchain-related news – investigate the stories flying under the radar of today’s crypto news.

Regulatory News

  • Former SEC chairman Jay Clayton, who is now advising One River Asset Management on cryptocurrency, told CNBC that prior to joining the SEC, Bitcoin (BTC) was not a security, but should not mean it . t be regulated, and that regulation of the asset will come. “Where digital assets end up at the end of the day […] I expect that regulation in this area will be both direct and indirect, “he said.

    “Where digital assets end up at the end of the day – is partly determined by regulations both at home and abroad … https://t.co/o8YlDMVSD9

    – Squawk Box (@SquawkCNBC)

  • A Spanish financial regulator has restricted Bitcoin and crypto ads in public spaces after a series of campaigns landed on billboards in major cities, including the capital, Madrid. Per Forosocuellamos, the Comisión Nacional del Mercado de Valores (CNMV), the Spanish market regulator, expressed its displeasure with advertisers and received the support of the Ministry of Finance. In the future, crypto advertisers will have to obtain CNMV approval for their advertising activities or face fines of up to USD 353,000. A domestic crypto exchange recently ran a poster campaign with the slogan: “The revolution has only just begun. Welcome to Bitcoin. “
  • The U.S. Financial Crimes Enforcement Network (FinCEN) announced that its director, Kenneth A. Blanco, will leave FinCEN on April 9, after serving as director of the organization since December 2017. Michael Mosier, former FinCEN Deputy Director and current Advisor to the Deputy Secretary of Treasury, will return to FinCEN as Acting Director. Mosier previously worked for cryptocurrency analysis, compliance and investigation firm Chainalysis, where he served as chief technical counsel.

Invest news

  • Canadian digital asset manager 3iQ Corp and investment firm CoinShares announced that they will be launching a new Exchange Traded Fund (ETF). The 3iQ CoinShares Bitcoin ETF is offered in Canada, and the Toronto Stock Exchange has conditionally approved the listing of the fund’s shares. 3iQ will act as the investment and portfolio manager of the ETF, which is expected to start trading in early April 2021. CoinShares also announced a strategic stake in 3iQ.
  • South Korean prosecutors sold a bitcoin transport they had owned since it went bankrupt in 2017. Per Chosun and Asia Kyungjae, the sale raised over $ 10.8 million, but the funds – some BTC 191s – were only worth a few thousand dollars when they were confiscated. The state was forced to hold on to the tokens as there were no legal means to dispose of crypto holdings seized in criminal proceedings until last month. Law enforcement agencies in Suwon, near Seoul, confiscated the funds during a bust on an illegal pornography distribution ring.
  • The Tezos Foundation has invested in the fintech venture studio Draper Goren Holm. The studio announced plans to incubate and accelerate startups based on the Tezos blockchain, while the foundation will also become the official limited partner of Draper Goren Holm, with a focus on the next generation of Tezos-based startups.
  • Mark Palmer, managing director and financial technology analyst at global financial services company BTIG, began reporting Thursday on business intelligence firm Microstrategy with a buy rating and a price target of $ 850, MarketWatch reported. Palmer said his valuation was based on a part-sum analysis of the company and an optimistic outlook for Bitcoin, with a price estimate of $ 95,000 by the end of 2022. The company’s shares are up 84% year-to-date, while earnings are up 530% on a 12-month basis.

Exchange messages

  • North Korean hackers held the South Korean crypto exchange Bithumb to release hacked data and customer funds, a US security report found. According to Maeil Kyungjae, a report commissioned by American intelligence agencies concluded that a data breach in the summer of 2017, in which the personal data of around 30,000 Bithumb customers were exposed, occurred north of the 38th parallel – and the sending of malicious code in E. – Included emails to Bithumb employees during a hiring season. It has been reported that the hackers threatened to “sell or destroy” customer funds unless Bithumb imposed a ransom fee.

Mining News

  • Bitcoin mining difficulty, or the measure of how difficult it is to compete for mining rewards, hit a new all-time high of 23.14T today, 5.82% above the level seen two weeks ago – slightly higher than estimated. The change is also the second highest jump this year.

CBDC news

  • Vachira Arromdee, Deputy Governor of the Financial Markets Operations Group at Bank of Thailand (BOT), revealed the central bank’s approach to developing a retail central bank digital currency (Retail CBDC) for general public use and solicited feedback from the By June 15, the public is expected to provide citizens with more convenient and safer financial services, while the development of a retail CBDC will support a technology-driven future that is efficient, cost-effective, and has the potential to transform financial infrastructure and the financial landscape.
  • Interest in China’s digital yuan could be driven in part by the rising price of bitcoin, said Wang Xin, director of the Central People’s Bank of China (PBoC) research bureau, CNBC. Xin reportedly said that the strong market interest in the digital yuan “is related to an increasing number of central banks around the world involved in the development of domestic digital currencies,” on the one hand, and to the interest “in the sharp rise in the price of Bitcoin, on the other . “

Dapps news

  • Decentralized Virtual World Decentraland (MANA) has enhanced the user-friendliness of Ethereum (ETH )’s Layer 2 project Polygon (previously Matic Network) to solve the problem of high gas fees plaguing Ethereum. The Decentraland dapps suite (decentralized apps) now has an account portal that allows users to move their MANA from the Ethereum blockchain to Polygon’s Matic network and back. After the process is complete, users should be able to claim, buy, sell, and trade wearables for their avatars entirely on Polygon with no transaction fees.

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