Blockchain DXB: 🚨 Dubai: 05th June 🚨 🟠 Thailand Approves First Bitcoin ETF 🟢 Dapper Labs Agrees to $4M Settlement 🔵Donations against ‘Anti-Crypto Candidates’ 🔴 CFTC Info

05th June: Crypto & Coffee at 8

🟠 Thailand Approves First Bitcoin ETF 🟢 Dapper Labs Agrees to $4M Settlement 🔵Donations against ‘Anti-Crypto Candidates’ 🔴 CFTC Info

🟠Thailand has approved its first Bitcoin ETF, the ONE Bitcoin ETF Fund of Funds Unhedged by One Asset Management (ONEAM), available from May 31 to June 6. Access is limited to wealthy and institutional investors. The ETF will invest in 11 global funds to ensure liquidity and security. This follows the Thai SEC’s rule change allowing local firms to offer Bitcoin ETFs to a restricted investor base. ONEAM’s CEO advises allocating no more than 5% of portfolios to Bitcoin due to its high return potential and volatility. More info Bitcoin Magazine https://tinyurl.com/36xr99k2

🟢 Dapper Labs has agreed to a $4 million settlement to end a class-action lawsuit alleging its NBA Top Shot NFTs were unregistered securities and that it restricted withdrawals to maintain value. Pending court approval, the settlement covers payments to investors and legal fees. Dapper Labs will also enhance compliance training and transaction speeds. CEO Roham Gharegozlou highlighted the need for clearer regulations distinguishing consumer NFTs from financial products, noting no regulators have classified NBA Top Shot NFTs as securities, and the SEC closed its investigation into the company. Info via CoinDesk https://tinyurl.com/mts7xnvu

🔴 ‘Anti-Crypto Candidates’

On May 22, the U.S. House of Representatives passed FIT 21, a regulatory framework for the crypto industry. On Friday, Biden vetoed the SAB 121 repeal, underscoring crypto-related tensions not just in national politics, but within his own party

- FairShake has nearly doubled its fundraising to $160 million, thanks to donations from Coinbase, Ripple, and Andreessen Horowitz. Coinbase contributed an additional $25 million to Fairshake, a crypto industry political action committee (PAC), highlighting increased crypto spending on the 2024 election. According to OpenSecrets, Fairshake’s fundraising is surpassed only by ActBlue and WinRed, the main payment processors for the Democratic and Republican parties. Info via Decrypt here https://tinyurl.com/ywwyfkzx

🎙️ Check out the Blockchain DXB podcast we share our commentary on this. We also discuss Interoperability and some technical information in the Blockchain context.

🟠 CFTC Digital Asset Subcommittee

Aptos Labs Founder Mo S. Joins CFTC Digital Assets Subcommittee Alongside BlackRock, BNY Mellon Reps. The subcommittee is part of the larger Global Markets Advisory Committee and includes industry representatives from companies like BlackRock, BNY Mellon, and Uniswap Labs. The subcommittee advises the CFTC on rulemaking related to international trade and business. via DLNews https://tinyurl.com/59uan7hy

🟠 Two UAE news

⚡ Qatar Central Bank Announces Launch of Digital Currency Project

⚡ Saudi Central Bank — SAMA mulls blockchain use, says no to phasing out cash

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