BlackRock CEO Larry Fink discusses the potential of Bitcoin and his work with the SEC to resolve any concerns or issues surrounding its application to create a US Bitcoin spot ETF. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
Larry Fink more optimistic about Bitcoin
📍BlackRock CEO Larry Fink has called Bitcoin an international asset and the “digitalization of gold.” During a recent interview on Fox Business, BlackRock's CEO again showed his recent optimism towards Bitcoin, the largest cryptocurrency by market capitalization.
Fink referred to Bitcoin as “digital gold” and highlighted that it had become an international asset that can transform the financial sector. The BlackRock CEO also commented on the company’s updated filing with the Securities and Exchange Commission (SEC) for the creation of a Bitcoin spot ETF in the United States.
As reported by this outlet, BlackRock submitted a registration application to the regulator seeking approval to launch a BTC spot exchange-traded fund. A few weeks later, BlackRock updated its proposal to include Coinbase as a partner in its shared oversight agreement, following comments made by the SEC regarding the lack of clear information in the ETF application. Fink noted that his management firm has maintained a long and close relationship with the financial regulator and is currently working with the SEC to resolve any issues related to its current filing. Based on this, the crypto community has high expectations that the SEC will approve BlackRock’s Bitcoin spot ETF.
In fact, as noted by K33 Research, Bitcoin-related investment products listed on US and international exchanges have benefited from the enthusiasm that BlackRock has generated in Bitcoin due to its application for a spot ETF.
The firm said that the filing by the Fink-led financial giant has rekindled institutional interest in the cryptocurrency and that companies have begun a race to launch a Bitcoin spot ETF on US soil. Vetle Lunde, an analyst at K33 Research, believes that all the interest and institutional activity surrounding Bitcoin at the moment will lead to a “hot market” in the coming months and that this will strengthen its positioning globally.
European Blockchain Sandbox selects the first blockchain-based projects
📍The European Union has selected the blockchain projects that will be part of its regulatory sandbox for blockchain. A total of 20 projects developed by companies from various EU countries will be part of European Blockchain Sandbox, the European initiative that seeks to build bridges between companies that are part of the blockchain industry and regulators.
In a Press release Recently, the European Commission said that the 20 selected projects present the first cohort of use cases for blockchain in the sandbox. By April, the Commission had received a total of 90 project applications, of which only 20 were selected. Companies and entities from across the European Union participated, the organization said.
The number of applications received to participate in the sandbox confirms the great interest that the blockchain ecosystem has in closing the current gaps that exist around regulation. On the other hand, the projects that were not selected for this first cohort of European Blockchain Sandbox will have the opportunity to participate in future cohorts, scheduled for early 2024 and early 2025.
Among the use cases that stand out are: financial markets, governance, telecommunications, education, energy, music, tourism, sports, professional services, among others.
FIS talks about privacy in the digital pound
📍FIS CBDC and Digital Currencies Product and Strategy Director Julia Demidova says privacy is key in the digital libra. Demidova said privacy remains one of the key pillars in the development of the digital pound. A CBDC will provide more transparency and increase visibility in operations and it is the duty of central banks and regulators to ensure user privacy, she said in a statement sent to The Block.
La Privacy is one of the biggest concerns on the development of central bank digital currencies, known as CBDCs. In addition to this, Demidova assured that the Bank of England is exploring various mechanisms to ensure the interoperability of the CBDC with other existing systems and networks.
Continue reading: Spain: Women prefer diversity when investing in cryptocurrencies, according to Crypto Insiders
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