WAO ART #463

SEC's engagement with Ethereum ETF issuers marks a significant change in outlook for potential approvals. The next step is to see when the 19b-4 forms will be approved and when the S-1 registration statements will go into effect. Trading could begin after these logistics are completed, but the timeline is uncertain.

Nigeria's SEC introduced a regulatory framework for virtual asset service providers, including digital asset exchanges, in May 2022. In March 2024, a proposed amendment to the rules required virtual asset service providers to raise two times the minimum paid-up capital and increased fees.

The EU has launched a blockchain project called Europeum to enhance record keeping and data transfer between member states. The project aims to provide tools for citizens and businesses, allowing them to trace product origins and protect intellectual property.

Hong Kong spot ether ETFs had no net flows on Monday. Total net assets of the three products amounted to $41.14 million. Hong Kong spot bitcoin ETFs saw net inflows of 99.8 BTC on Monday. US spot bitcoin ETFs reported sixth consecutive day of inflows, drawing in $241.12 million.

Bloomberg analysts predict that Ethereum Spot ETFs may be approved in the coming days. Previously, analysts believed it was impossible, but now they have increased the approval probability to 75%. The SEC may do a 180-degree turn on this issue, leading to a rush in filings.

Brazil's central bank plans to introduce cryptocurrency regulations by the end of 2024. The regulations will be implemented in multiple phases to incorporate public feedback. The focus is on enhancing transparency and addressing risks associated with digital assets.

Australian stocks decline, with James Hardie Industries hitting a 5-month low. Banks stumble, contributing to the overall decline in the market. Mining sector sees modest gains, driven by a surge in iron ore prices. Tech sector outperforms, with stocks like Xero and WiseTech Global showing notable gains.