• Fidelity, VanEck and more have refiled spot Bitcoin ETF applications after reports of SEC rejections.
• South Korea has passed new crypto legislation focusing on investor protections.
• BNY Mellon’s crypto custody venture has run afoul of SEC rules, while Vodafone has confirmed rumors of Cardano NFT plans.
Fidelity, VanEck Refile Spot Bitcoin ETF Applications
Fidelity, VanEck and more have refiled spot Bitcoin ETF applications after reports of rejections from the U.S Securities and Exchange Commission (SEC). This move comes as a result of recent applications falling short of the SEC’s expectations on a technicality but not being out of the running yet.
South Korea Passes New Crypto Legislation
In response to these developments, South Korea has passed new crypto legislation focusing on investor protections. This legislation will require exchanges to separate user assets from business assets and keep user assets in a statutory trust. Additionally, exchanges are banned from providing lending or staking services to its retail users.
BNY Mellon’s Crypto Custody Venture Runs Afoul Of SEC Rules
BNY Mellon’s crypto custody venture runs afoul of SEC rules due to it not meeting requirements set by the regulator. The company is currently attempting to rectify this issue in order for its project to be accepted by the regulator.
Vodafone Confirms Rumors Of Cardano NFT Plans
Vodafone recently confirmed rumors that it has plans to launch Non-Fungible Tokens (NFTs) based on the Cardano blockchain platform. These tokens will be used as rewards for customers who use their services and products.
Asia Crypto Hubs Introduce New Bans To Lending And Staking For Retail Investors
Asia crypto hubs Singapore and Thailand have released new directives over the handling of digital assets in two announcements on July 3rd prohibiting exchanges from providing lending or staking services to retail users due to them being “generally not suitable” for such investors.