606: Allaire's Stablecoin Proposal , Stablecoins, CBDCs and Prometheum's Scrutiny

Overnighters,

Episode 606:
CBDC Alert (Brazil)
Allaire: Stablecoins Better for China
Promethium Under Fire
and More

The TL;DL

Grayscale Argues Against SEC ETF Decision - Grayscale is disputing the SEC's rejection of its application to convert its Bitcoin Trust into a spot bitcoin ETF, arguing the SEC's approval of a riskier leveraged bitcoin ETF is inconsistent.

UK Targets Crypto ATMs - The UK is cracking down on crypto ATMs to protect scam victims, while the Treasury explores a five-year trial for digital securities, aiming to balance innovation and regulation.

Dubai Suspends BitOasis’s License - Dubai's Virtual Assets Regulatory Authority has suspended BitOasis's license due to unmet conditions, highlighting the regulatory challenges faced by crypto exchanges.

CBDC Alert (Brazil)- A developer has reverse-engineered the source code of Brazil's pilot CBDC, revealing functions that could allow a central authority to freeze funds or reduce balances.

Allaire: Stablecoins Better for China - Circle's CEO, Jeremy Allaire, suggests China should consider adopting stablecoins backed by the Chinese Yuan to internationalize its currency, despite potential government resistance.

Promethium Under Fire - Prometheum, a special-purpose broker, is under scrutiny from U.S. lawmakers who allege the company may have provided false testimony to Congress or violated U.S. securities laws.

Crypto Overnighter Podcast (7/11/2023): Welcome back to the Crypto Overnighter with your host, Nikodemus. We provide nightly updates on cryptocurrency, NFTs, the metaverse, and the surrounding industry. Remember, this show does not offer financial advice.

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