Fidelity refiles for spot Bitcoin ETF as Binance may hit roadblock in Germany

Welcome to today’s Snapshot!

The more the merrier, it seems. Once rejected by the US SEC, asset management giant Fidelity joined the rush for a spot Bitcoin ETF by refiling paperwork, following BlackRock and several others into the fray. Binance’s attempt to gain a cryptocurrency custody licence in Germany may not fare well amid its other troubles, including a lawsuit by the US SEC. Other news comes to us from China, France and North Carolina.

These are some stories we’re looking at right now.

Fidelity seeks spot Bitcoin ETF

Asset manager Fidelity refiled for a spot bitcoin ETF, after originally applying in 2021 and being rejected by the US Securities and Exchange Commission in 2022.

The new paperwork comes after BlackRock’s filing on June 15 for a spot bitcoin ETF, which has been followed by several other fund companies, including Invesco and Wisdom Tree.

Germany may deny Binance licence

The German regulator, BaFin, will not grant Binance a cryptocurrency custody licence, a person with direct knowledge of the matter told Reuters.

The US Securities and Exchange Commission earlier in June sued Binance and its CEO Changpeng Zhao, accusing them of trying to evade US laws. Binance denies the charges.

China considers digital yuan boost

China is considering adding a digital yuan capacity to government-issued social security cards, Cryptonews reported, citing Chinese-language NBD.

The Ministry of Human Resources and Social Security is looking at ways to “add digital yuan payment functions” to plastic social security cards, which are often used as identification.

Lacoste adds to NFT ecosystem

French fashion company Lacoste has added rewards to its non-fungible token ecosystem, allowing users to convert their NFTs into a card and connect to a dedicated site.

They will be able to gain access to “creative sessions, contests, video games and interactive conversations” as well as earn certain rewards.

North Carolina eyes Bitcoin investments

North Carolina lawmakers looking at investments in Bitcoin and gold to boost the state’s treasury passed a bill to fund a study of digital assets and precious metals.

Having cleared North Carolina’s House of Representatives, the bill will go to the Senate. If it’s approved, it would then need to be signed into law by Governor Roy Cooper.

What we’re reading from around the web

UK Crypto, Stablecoin Rules Receive Royal Assent, Passing Into Law — CoinDesk

Blockchain Association joins Coinbase in pushing back against SEC over crypto crackdown — Forkast

SEC Chair Gensler must recuse himself from crypto enforcement decisions — Fortune