In this episode of CoinStreet, we explore the latest headlines in the world of cryptocurrency. Discover how Sub-Saharan Africa is emerging as the third fastest-growing region for crypto adoption, with a remarkable 52% increase in on-chain value received. We also discuss the SEC’s recent delays on multiple crypto exchange-traded fund proposals, including those from BlackRock and Franklin Templeton, and the agency’s plans to create a unified regulatory framework for crypto activities. Additionally, we highlight Senator John Kennedy’s cautious stance on advancing a cryptocurrency market structure bill. Jane King has the latest from the NYSE.
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Thanks, Jeremy.
Here's a look at your Coin Street headlines.
Sub-Saharan Africa is the 3rd fastest growing region for crypto adoption.
The blockchain data platform Chainalysis report underscores the region's emphasis on real world crypto use cases in the face of currency devaluation, lack of traditional finance rails, and other challenges.
According to the report, Sub-Saharan Africa received 2. $5 billion in on chain value between July 2024 and June of 25.
This on-chain value received is up 52% compared to the previous reporting period and makes the region the third fastest growing for crypto adoption behind Asia Pacific and Latin America.
Well, the US Securities and Exchange Commission has delayed decisions on multiple crypto exchange.
Traded funds proposals pushing back deadlines for funds including BlackRock and Franklin Templeton.
According to SEC filings, the agency has set a new deadline of November 13th for Franklin's Ethereum staking amendment and November 14th for the Solana and XRP ETFs.
A proposal seeking to permit staking in BlackRock's iShares Ethereum Trust is now slated for October 30th.
The SEC chair Paul Atkins said that most crypto tokens are not securities while outlining a sweeping plan to integrate crypto activities like trading, lending, and staking under a unified regulatory framework.
Atkins says policy will no longer be set by ad hoc enforcement actions.
Under the Project crypto initiative, the SEC aims to modernize its securities regulations to accommodate blockchain-based financial markets.
And according to Atkins, the president's working group on digital asset markets has already delivered a bold blueprint to support this mission.
Well, senior GOP member of the Senate Banking Committee, Senator John Kennedy said lawmakers should rush to advance a cryptocurrency market structure bill this month, casting doubt over Chair Tim Scott's pledge to do so.
The Louisiana Republican says he doesn't think we're ready.
People still have a lot of questions.
The bill in question would overall how cryptocurrencies are regulated by divvying up oversight of digital assets between the Securities and Exchange Commission and the Commodity Futures Trading Commission, and that's the latest headlines.