• Fidelity, VanEck, and other firms have refiled their spot Bitcoin ETF applications after reports of SEC rejections.
• South Korea passed new crypto legislation focusing on investor protections.
• Bitcoin’s correlation with gold recently hit a yearly low, suggesting a decoupling from other assets and maturing of the crypto market.
Filing Spot Bitcoin ETF Applications
Fidelity, VanEck, and more have refiled their spot Bitcoin ETF applications after reports of SEC rejections. This indicates that these companies are still in the running for approval despite falling short of SEC’s expectations on a technicality.
Recent Crypto Legislation in South Korea
South Korea has passed new crypto legislation that focuses on investor protections. This includes guidelines related to digital asset transactions as well as anti-money laundering regulations. These measures aim to make the crypto industry safer for users while also providing legal certainty for businesses operating in the space.
Decoupling from Other Assets
Bitcoin’s correlation with gold recently reached its yearly low on June 30th, suggesting a decoupling from other assets and the maturing of the crypto market. This could mean that investors are increasingly viewing cryptocurrencies as independent stores of value instead of merely an alternative to traditional assets like gold or stocks.
SEC Rules Violations by BNY Mellon
BNY Mellon’s crypto custody venture runs afoul of SEC rules due to inadequate cyber security protocols and lack of compliance with customer protection laws when transferring digital assets between different accounts. As such, they must take additional steps in order to comply with applicable regulations before continuing operations in this space.
Cardano NFT Plans by Vodafone
Vodafone has confirmed rumors regarding Cardano NFT plans which will involve leveraging blockchain technology for creating unique digital art pieces that can be bought and sold using ADA tokens. This is part of a larger effort by Vodafone to integrate blockchain into its products and services in order to expand its reach into the growing crypto sector while simultaneously increasing user privacy and security through decentralization