EddieJayonCrypto
8 Aug 22
• CryptoCom has acquired PnLink and OK-BIT in South Korea giving it reach into the country with EFTA and VASP licensing• Gary Gensler could be looking to go after even the use of crypto• Chainlink says it will only support the Proof-of-Stake consensus layer post-merge in a big win for ETH• US at od...
• CryptoCom has acquired PnLink and OK-BIT in South Korea giving it reach into the country with EFTA and VASP licensing• Gary Gensler could be looking to go after even the use of crypto• Chainlink says it will only support the Proof-of-Stake consensus layer post-merge in a big win for ETH• US at odds with the EU over Markets in Crypto Assets (MiCA) regulations• Amid WazirX fireworks, Binance says they are revamping their VC arm, Binance Labs• CPI and Initial Jobless Claims out on Wednesday and Thursday, respectivelyLike I said, I am looking for movement in the CEX space, even consolidation. Here is what is on my mind today.1. CryptoCom has acquired 2 companies that make it instantly legal in South Korea. Hey have snatch up payment service provider PnLink Co., Ltd. nd virtual asset service provider OK-BIT Co., Ltd. They bring EFTA and VASP registration in South Korea and is a big move into the Asian market. 2. It is abundantly clear that Gary Gensler is going after the crypto market. Now he is setting his sights on squashing the market by going after the investor. If you listen to John Deaton, XRP holders’ lawyer in the SEC Vs Ripple lawsuit, you can see how the SEC is trying to expand the Howey Test. A change here could mean that even if someone purchases a digital asset for use in a transaction, the asset would be seen as a security. The implications are huge here. 3. There is a lot of chatter about the possibility of a hard fork from Ethereum. Well, Chainlink, the world's largest oracle and source for smart contract tools, says they will only support the Proof-of-Stake consensus layer post-merge. This is a big deal as it would significantly hamper fork support. Going forward. 4. Global crypto regulators are already at odds. It would seems that the EU's Markets in Crypto Assets (MiCA) regulations have US regulators in a bit of a tizzy. The commissioner of the Commodity Futures Trading Commission, Caroline D. Pham, says the United States should not be seen as adhering to EU's regulations and should be leading the way on regulating the Cryptoverse. 5. In between all of the WazirX fireworks, Binance is revamping its $7.5B venture capital arm. Yi He, who co-founded Binance with CZ in 2017, is the new head of Binance Labs and says now is the best time to invest in creative risk-takers. This is a very big deal when you give thought to how the right projects have the potential to change the coming Web3 landscape. 6. Don't forget that we are expecting the Consumer Price Index (CPI) numbers on Wednesday and Initial Jobless Claims on Thursday.