Central African Republic will launch its Bitcoin initiative, “Sango”, later this week, as reported by the country's president, Faustin-Archange Touadéra, on Twitter. This and more news in this practical summary daily so that you are always informedwith events most recent that occur within the crypto world.
Bitcoin project “Sango” coming this week
📍The Sango project, from the Central African Republic to promote Bitcoin, will officially launch on July 3. The president of the Central African Republic, Faustin-Archange Touadéra, announced on Twitter that the “Sango” project, for Bitcoin, will be officially available later this week.
This is an initiative with which the Central African Republic will promote the use and development of Bitcoin in the region, to “pave the way to a digital future of infinite possibilities” and attract the interest of global investors to the country.
Earlier this month, President Touadéra had announced that the Sango project is the second phase of his strategy for the adoption and development of Bitcoin and blockchain technology. The first phase was to follow in the footsteps of El Salvador and announce the legalization of Bitcoin for use as the country's official currency.
Crypto market states
📍Cryptocurrencies show a slight recovery this Tuesday, led by Chiliz and Kava. The price of the main cryptocurrencies on the market has recovered between 1,84% and 16% this Tuesday, according to data from the price monitoring platform, CoinMarketCap, at the close of this edition.
Cryptocurrencies such as CHZ, KAVA, STX,
Stolen funds moved to Horizon Bridge
📍Harmony's Horizon Bridge hacker is moving stolen funds around while ignoring developers' bounty. The Harmony Cross Chain Bridge lost 100 million dollars last weekend due to a security exploit, which allowed the hacker to extract the funds using different altcoins.
Now, according to blockchain analysis firm PeckShield, the person responsible for the attack is moving the funds, which were exchanged into ETH, through different addresses and using the Tornado Cash mixing protocol in an attempt to obfuscate their origin.
This comes shortly after the Harmony developers offered a $1 million reward to the hacker to return the rest of the stolen funds to the protocol's users. The developers said on Twitter that they will not file legal charges against the person responsible for the attack, as long as he returns the assets.
Grayscale and its Bitcoin ETF
📍Grayscale is waiting for the SEC to convert its GBTC investment fund into the first Bitcoin ETF in the United States. The investment company is preparing to launch the “Grayscale Bitcoin Trust (GBTC)” as a spot Bitcoin ETF, should it receive approval from the United States Securities and Exchange Commission (SEC).
The US regulator is expected to issue a response to Grayscale's request between this and next week. Recently, the company's CEO Michael Sonnenshein informed Bloomberg that trading firms Jane Street and Virtu Financial will join Grayscale as authorized participants if its ETF is approved.
Grayscale is determined to convert its bitcoin investment fund into an ETF, to the point that it plans to sue the regulator if it rejects its application again. The company has stated on previous occasions that it has complied with all the requirements demanded by the SEC.
Bitcoin is a commodity, says the SEC
📍Meanwhile, Gary Gensler reaffirms that Bitcoin is not a security. The SEC has once again issued its verdict regarding Bitcoin. The president of this financial regulator, Gary Gensler, has confirmed during a interview on CNBC that Bitcoin is not a security, but rather a commodity whose regulation is in the power of the Commodity Trading Commission (CFTC). However, Gensler decided to leave other cryptocurrencies, such as Ethereum, out of this interpretation.
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