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SEC reportedly tells spot Bitcoin ETF seekers to submit final changes by next week

SEC reportedly tells spot Bitcoin ETF seekers to submit final changes by next week
Snapshot
CEO Cathie Wood's ARK Invest awaits SEC decision. Credit: Rita Fortunato

Happy Saturday!

US Securities and Exchange Commission officials met with firms that have applied to launch spot Bitcoin ETFs and reportedly told two executives to submit final changes by December 29. Nigeria’s central bank lifted a crypto ban, and Coinbase secured a licence to operate in France. Read on!

Deadline set for spot Bitcoin ETF changes

Officials from the SEC met this week with at least seven firms proposing to launch spot Bitcoin ETFs, and unidentified executives from two of the companies said they were told to submit final changes by December 29, Reuters reported, citing public memos and two people familiar with the discussions.

Representatives from BlackRock, Grayscale Investments, ARK Invest, and 21 Shares were among those meeting with the SEC.

The SEC must decide by January 10 on a joint proposal from ARK and 21 Shares. Reuters said most issuers anticipate the SEC may approve several applications at once before that deadline.

Nigeria’s central bank lifts crypto ban

The Central Bank of Nigeria (CBN) lifted a ban on Nigerian banks conducting cryptocurrency business that had been in place since February 2021 amid concerns about potential money laundering and terrorism financing.

Local media posted on X a circular and letter sent to banks on December 22 in which the CBN noted a global trend towards crypto and relaxed its ban in favour of a regulated approach.

Arkon to expand Bitcoin mining capacity

Arkon Energy, a data center infrastructure company, closed a $110 million private funding round to expand its capacity for Bitcoin miners, company CEO Josh Payne told TechCrunch.

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The round was led by Bluesky Capital Management and included Kestrel 0x1 and Nural Capital. Arkon’s data center portfolio consists mostly of institutional-grade bitcoin mining companies, Payne said.

Coinbase obtains crypto licence in France

Crypto exchange Coinbase Global obtained a virtual asset service provider registration with the French regulator, allowing it to expand into the key European market, Reuters reported.

“Achieving VASP status in France allows us to continue to grow globally in the best possible way, onboarding the next one billion people into crypto, while ensuring consumers’ assets are secure and that compliance is prioritised,” said Daniel Seifert, Coinbase vice president and regional managing director for EMEA.

Wemade, Whampoa Digital launch web3 fund

South Korean game publisher Wemade and Singapore-based investment company Whampoa Digital launched a $100 million web3 fund with the aim of accelerating blockchain adoption, Decrypt reported.

The fund will invest in blockchain gaming projects, mostly in the Middle East. Wemade is also building the Wemix Play Center, a blockchain gaming-focused development in Dubai where projects receiving investments will be able to set up shop.

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