The introduction of a KYC hook in Uniswap’s V4 iteration, which started as an option, has sparked a huge debate in the crypto community about the future of decentralized finance. 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.
Controversy over KYC hooks on Uniswap
📍One of the main protocols of the blockchain ecosystem is at the center of the controversy over the future of decentralized finance. Leading DeFi decentralized exchange Uniswap is receiving heavy criticism for introducing KYC (Know Your Customer) hooks in the V4 iteration.
X user “@yourfriendSOMMI” commented that Uniswap V4 has introduced a KYC option for liquidity pools into the protocol. However, despite it currently being just an option, the user notes that this will eventually allow DeFi protocols to be whitelisted by regulators.
“It starts with a ‘kyc option’ for liquidity pools. And then over time it moves to a ‘regulator-approved’ database hosted off-chain. And then non-kyc is labeled as illegal terrorist money laundering,” he commented.
SEC will not appeal case with Grayscale Investments
📍The likelihood of a Bitcoin spot ETF being approved in the United States increases. Although Bloomberg ETF analysts have not yet confirmed an official source, several media outlets have published the alleged intentions of the United States Securities and Exchange Commission (SEC) to not to appeal the ruling that the Court of Appeals issued in favor of Grayscale Investments in August.
According to Benzinga and Reuters, a source close to the SEC has confirmed that the securities regulator will not appeal Judge Neomi Rao’s decision, which overturned the SEC’s rejection of Grayscale’s petition to convert its investment vehicle Grayscale Bitcoin Trust (GBTC) into a Bitcoin spot ETF.
Analyst James Seyffart said on the possibility of dialogue between Grayscale and the SEC beginning next week and that it was expected that the regulator would not file a request to appeal the case.
Dogecoin, the cryptocurrency with the most social activity of the day
📍The Dogecoin (DOGE) meme cryptocurrency recorded nearly 14 thousand social media posts in the last 24 hours. According to data published by the Crypto Dep platform, Dogecoin is positioned as the cryptocurrency of the day for social activity.
In the past few hours, Dogecoin, whose history began in 2013 as a joke to the Bitcoin and cryptocurrency craze, has been dominating social media, with more than 13.900 posts mentioning it. According to the platform, the majority of Dogecoin's social activity volume comes from X (formerly Twitter), where a total of 13.800 posts about the crypto meme have been recorded.
Source: Crypto Dep
Dogecoin is currently the ninth largest cryptocurrency on the market, with a market capitalization of over $8.400 billion.
Third-party client for BlueSky released
📍Graysky is the first app built on the BlueSky API to be submitted to the Apple App Store. Graysky is a third-party client that seeks to improve the user experience of the decentralized social network backed by Twitter co-founder Jack Dorsey, now known as X. According to Samuel Newman, who is behind the project, Graysky is an alternative client for Bluesky that offers the same content but with more features designed for user experience and improving quality of life.
So far, the app has received good feedback from the community due to its intuitiveness and accessibility.
Graysky recently became the first app built on the BlueSky API to be submitted to the Apple App Store. Its launch on the App Store is scheduled for October 21st.
El Salvador allocates new funds to Bitcoin
📍Bitcoin fund manager AAB to receive another $13 million El Salvador has allocated new funds to the agency responsible for managing funds related to Bitcoin, which was declared legal tender in the country in 2021.
This agency, called the Bitcoin Fund Management Agency (AAB), was launched this year to manage the resources generated by volcano bonds and everything related to digital assets. In September, AAB was allocated $1,89 million and recently received a new allocation of just over $13 million for the 2024 budget, which will be used to manage digital asset offering funds and invest in public offering funds.
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