The Merge is getting closer to going live on the Ethereum mainnet, with the successful implementation of the 13th and final shadow fork on the network. This and more news in this handy daily digest so you're always up to date with the latest events happening within the crypto world.
The Merge, just 4 days away from arriving on Ethereum
📍The update The Merge of Ethereum is getting closer. Last Friday, Ethereum developers successfully implemented the latest shadow fork on the network, which sets everything up for the arrival of The Merge, possibly between Tuesday, September 13 and next Thursday, September 15.
On Twitter, Ethereum client Nethermind reported that the network's shadow fork #13 has been successfully implemented.
Vitalik Buterin sees Ukraine as the next Web3 hub
📍Ethereum co-founder Vitalik Buterin attended the kyiv Tech Summit in support of Ukraine. Buterin surprised everyone at the conference by showing his support for Ukraine, while also expressing that the sentiment is also coming from many people within the Ethereum ecosystem and the crypto community.
During his participation in the Technology Summit, Buterin revealed Ukraine could rise as the next Web3 hub, local publication reported AinThe country has been working on favorable regulations for cryptocurrencies and blockchain technology and has embraced crypto assets, even launching NFTs, to raise funds to fight Russia's war effort.
Norway is studying the issuance of a CBDC
📍Norges Bank is creating a regulated sandbox for implementing a CBDC, to assess its risks and benefits. The bank has said it is studying whether a central bank digital currency (CBDC) should be introduced to Norway. To do so, it is creating a experimental testing environment which will allow the entity to know if the issuance and introduction of a CBDC digital currency is necessary to guarantee its payment system.
Although the project is still in an early phase, Norges Bank noted that so far, reports have yielded positive results regarding the issuance of a digital currency, suggesting that a CBDC should be introduced into the country's financial system.
The SEC, between love and hate towards cryptocurrencies
📍This week, Gary Gensler showed himself more open to cryptocurrencies and Gurbir Grewal assured that they will not be lenient with projects that break the law. Cryptocurrency regulation in the United States has been under debate for some time, and in the past year, a fight has erupted between regulators such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to control the crypto industry.
In particular, the SEC has been working to gain greater regulatory power over cryptocurrencies and impose tough regulations that it believes will minimize risks and ensure investor safety and financial stability.
In this context, Gary Gensler, chairman of the SEC and who has shown a rather tough position towards the crypto industry, said this week that he is Open to listening to developers of cryptocurrency and stablecoin projects, to work together to create an appropriate regulatory framework for the industry. But Gensler believes that most cryptocurrency projects on the market today are securities, so they must register with the regulator and comply with securities laws to provide important protections to US investors.
On the other hand, SEC Enforcement Director Gurbir Grewal said for a session of SEC Speaks 2022, that contrary to the opinion that the regulator has generated in the crypto ecosystem, of wanting to stifle industry innovation, the SEC has been focused on enforcing securities laws for all who fit the tests of howey y Reverse. Therefore, Grewal assured that The SEC will continue to file actions against those projects that violate their laws, regardless of what label is used or what technology is involved or not.
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