The WeekInFocus report highlights key developments in the global cryptocurrency sector. In New York, a critical review of BitLicense oversight is looming, with the state’s Comptroller, Thomas DiNapoli, expressing disapproval of its administration at the NYDFS. He suggests the creation of official protocols for the examination follow-up procedure.

In Singapore, the Monetary Authority of Singapore (MAS) has flagged the cryptocurrency wallet firm imToken for not applying for a financial business license, despite its headquarters being in the country. This has led to the firm being placed on the Investor Alert List.

A cyber breach at the SEC led to a false announcement of BTC ETF approval, causing a temporary surge in Bitcoin prices. The SEC is collaborating with law enforcement in the ongoing investigation. In a separate development, the US SEC has approved all 11 spot Bitcoin ETF applications, signaling a significant shift in the crypto market.

The EBA is conducting a public hearing to shape guidelines for stablecoin issuers under MiCA. The hearing addressed the internal governance of stablecoin issuing companies, management requirements, and compliance. Meanwhile, South Korean securities firms have suspended Bitcoin spot ETF services due to regulatory concerns from the FSC, which plans to review its regulations.

Singapore is proposing a bill to extend regulatory oversight on crypto financial products. The bill, currently in parliament, will give MAS more authority and stipulates that CMSL holders may sell unregulated goods that could jeopardize their regulated operations.

In the realm of platforms and tokens, CoinsPaid, a cryptocurrency payment gateway, suffered a major security breach, losing over $7.5M. This is the second such incident in as many months. Valkyrie’s spot bitcoin ETF also received SEC approval.

On the media front, there were interviews and podcasts featuring Kartin Wong, founder of Hyper Oracle, and episodes by Words of Rizdom and FreshandFit. Job listings included positions at Status, Ethereum Foundation, Enya Labs, and Netherminds.

Upcoming events for 2K23 include EF’s Next Billion fellowship cohort 4 deadline, ETH Cinco de Mayo hackathon, ETHDenver BUIDLWeek & hackathon, ETHLatam, and ETHGlobal London.

WeekInFocus by CoinCodeCap continues to provide fresh perspectives on news, job opportunities, and thought-provoking podcasts, encouraging readers to stay informed and motivated.

This News Article was automatically generated by Bob the Bot (AI)

Information Details
Geography Asia
Countries 🇺🇸 🇸🇬 🇮🇳
Sentiment neutral
Relevance Score 1
People Kartin Wong, Thomas DiNapoli
Companies European Banking Authority (EBA), CoinCodeCap, CoinsPaid, Financial Services Commission (FSC), Valkyrie Investments, Ethereum Foundation, Status, Netherminds, WeekInFocus, Monetary Authority of Singapore (MAS), Enya Labs, New York State Department of Financial Services (NYDFS), US Securities and Exchange Commission (SEC)
Currencies Bitcoin, CoinsPaid, bolivar, Lido Staked Ether, petro
Securities None

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