BlackRock, Nasdaq and SEC Discuss Bitcoin ETF

Representatives from BlackRock, Nasdaq, and the U.S. Securities and Exchange Commission held their second meeting within a month to discuss the necessary rule changes for listing a Bitcoin exchange-traded fund. The discussion focused on Nasdaq Rule 5711(d), which sets criteria for listing Commodity-Based Trust Shares, emphasizing requirements for market integrity and protection against fraud.

This meeting follows BlackRock’s recent revision of its spot Bitcoin ETF proposal, now including cash redemptions to align with SEC preferences.

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Montenegro Court Revokes Do Kwon’s Extradition Approval

The Montenegro Appellate Court overturned the High Court of Podgorica’s decision to approve the extradition of Terraform Labs co-founder Do Kwon to the U.S. or South Korea. This development, announced on December 19, 2023, followed Kwon’s defense successfully challenging the High Court’s ruling, citing significant procedural violations.

The case will be retried at the Podgorica Basic Court. Kwon, arrested in March 2023 for using falsified travel documents, is implicated in the collapse of the Terra blockchain and its associated cryptocurrencies. The U.S. and South Korea seek his extradition for his role in a scheme resulting in substantial market losses.

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BloXroute Will Restrict Transactions Tied to U.S. Sanctions List

Ethereum relay provider BloXroute has announced that it will begin rejecting transactions that include addresses listed on the U.S. Office of Foreign Assets Control (OFAC) sanctions list. This decision, aimed at maintaining compliance with U.S. Treasury requirements, will not significantly impact Ethereum’s decentralized and resilient nature, according to bloXroute. 

The change has sparked some criticism on social media, with users questioning the balance between supporting Ethereum’s ethos and adhering to regulatory compliance. This move follows similar actions by other crypto entities like Tether, which froze crypto addresses on the OFAC list, signaling a broader trend toward compliance within the cryptocurrency industry.

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Injective’s INJ Up 3,000% Year-to-Date After Recent Jump

Injective (INJ), the native token of the Injective layer 1 blockchain, has experienced a staggering 3,000% increase in its year-to-date value, reaching a record high of $39.15. Injective’s blockchain, based on Cosmos, integrates AI with decentralized finance and boasts features like auto-executing smart contracts. 

Despite having a total value locked of $18 million, its trading volume soared to $600 million in the past day. The recent price surge indicates traders’ growing interest in AI narratives within the crypto space, similar to assets like Fetch.ai (FET) and the Graph (GRT).

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Other breaking news

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• IOSCO Releases Policy Recommendations on DeFi
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• China to Define Clear Development Path for Web3, NFTs
• Magic: The Gathering Bans AI Art Following Controversy

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