Here’s what happened in cryptocurrency today.
South Korea has passed a cryptocurrency law to deal with unfair trading
The South Korean government is taking steps to protect cryptocurrency investors from implosions like Do Kwon’s Terra ecosystem by passing a new cryptocurrency law.
Supposedly legislation integrates 19 cryptocurrency-related laws that provide a uniform law defining digital assets and imposing penalties for illegal business activities such as the use of undisclosed information, market manipulation, and other unfair business practices in cryptocurrencies.
The Australian Crypto Association is calling for a united effort to fight fraud
The new chief executive of Blockchain Australia, the country’s largest cryptocurrency authority, has called for closer cooperation between banks and the government to tackle crypto-related fraud.
Cryptocurrency exchanges and their Australian customers have had a tough few months after two major banks blocked, restricted and delayed payments to crypto exchanges, citing the need to protect consumers from fraud.
Simon Callaghan, who now heads Australia’s 111-member blockchain lobby group, says the association’s focus will now be on ways the crypto industry can help in the fight.
US SEC Finds Spot Bitcoin ETF Filings Insufficient: Report
The US Securities and Exchange Commission (SEC) has temporarily suspended recent ETF filings from BlackRock, ARK Invest, Fidelity and others, citing incomplete paperwork.
According to the SEC, the exchanges did not provide sufficient information about which exchange partner and supervisory sharing arrangements.
So the SEC wants ETF proposals to specify the spot exchange with which the information sharing agreement is made. Which is missing now. This is page 42 of the Blackrock proposal. Guess not now that I’m a deal breaker. But a bull run regardless. pic.twitter.com/rsPW34wVME
— Alex Krüger (@krugermacro) June 30, 2023
While the delay has caused some discomfort in the community, many are urging patience as the SEC has made it clear that companies can re-file once they update their paperwork.
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