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The European Commission has signaled its intention to investigate Microsoft's 49% stake in OpenAI to determine whether it should be reviewed under the EU Merger Regulation. The commission is examining agreements between large digital market players and generative AI developers and providers. Microsoft's investment in OpenAI, reportedly at least $13 billion for a 49% stake, is under scrutiny, and the commission may consider factors like Microsoft's recent involvement in OpenAI's CEO change. While this investigation doesn't guarantee regulatory action, it reflects ongoing scrutiny of major digital players in the European market.(Source: Cointelegraph)

The Safety Team of the X platform has confirmed that the U.S. Securities and Exchange Commission's (SEC) Twitter account was compromised. The incident caused chaos in the crypto market after a fake announcement about the approval of spot Bitcoin ETFs, leading to a temporary surge in Bitcoin prices. The X platform stated that the SEC account did not have two-factor authentication enabled at the time of the compromise. The hacking occurred when an unidentified individual gained control of a phone number associated with the SEC account through a third party. The SEC and X platform are collaborating with law enforcement to investigate the incident. (Source: Cointelegraph)

Nebraska State Senator Eliot Bostar has introduced Legislative Bill 911 on 5 January 2024, aiming to adopt the Blockchain Basics Act. This legislation aims to establish regulations promoting a safe and legal environment for cryptocurrency mining, holding, and trading in Nebraska. The proposed Blockchain Basics Act would permit individuals to host blockchain nodes and conduct crypto mining operations in residential properties without requiring licenses, subject to compliance with local noise ordinances. The bill also distinguishes crypto businesses, requiring them to operate from designated industrial zones. It explicitly states that staking services will not be considered securities in Nebraska. (Source: Cointelegraph)

The European Central Bank (ECB) has announced plans to allocate €1.2 billion to private-sector partners for the development of a digital euro. The ECB will seek partners for five initiatives, including developing offline payments and risk and fraud management. The move is part of the ECB's efforts to advance the digital euro project, with contracts expected to cover various aspects, from app development to offline payment solutions. ECB President Christine Lagarde had previously stated that the development of a central bank digital currency (CBDC) would take two years.(Source: Dlnews)

The US Commodity Futures Trading Commission (CFTC) has issued a report on decentralized finance (DeFi), emphasizing the spectrum between centralization and decentralization in most DeFi systems for regulatory consideration. The report aims to guide US policy discussions and inform ongoing dialogues at the US Congress, state legislatures, and regulatory bodies. It highlights concerns over the lack of clear lines of responsibility and accountability in DeFi systems, recommending collaborative efforts between regulatory bodies and industry participants to address risks and foster a more secure DeFi landscape.. (Source: Coingape)

Coinbase UK is taking steps to comply with the Financial Conduct Authority's (FCA) stringent regulations by introducing a risk-acknowledgment form for its users. The form requires UK users to specify their investor classification and confirm their understanding of the high-risk nature of cryptocurrency investments. This move aligns with the FCA's updated financial promotion policy, reflecting Coinbase's commitment to compliance in the evolving regulatory landscape. (Source: Dailycoin)

Jay Clayton, the former chair of the United States Securities and Exchange Commission (SEC), expressed his belief that the approval of a spot Bitcoin exchange-traded fund (ETF) is inevitable. During an appearance on Squawk Box, Clayton noted that there's "nothing left to decide" and acknowledged the current strength of the Bitcoin market. His comments come just ahead of the SEC's January 10th deadline, where several companies, including Invesco, VanEck, and WisdomTree, have applied for approval. If granted, a spot Bitcoin ETF could contribute to greater mainstream adoption of cryptocurrencies in the United States. (Source: Crypto.news)

Bitcoin's price has exceeded $47,000 for the first time since April 2022, marking a significant surge as the United States Securities and Exchange Commission (SEC) approaches the deadline for potential approval of spot Bitcoin exchange-traded funds (ETFs). The cryptocurrency jumped over 6.5% in the last 24 hours, reaching a year-to-date high at $47,284. This comes as the SEC reissues a warning about FOMO (Fear of Missing Out) crypto investing just ahead of the anticipated approval of spot Bitcoin ETFs, expected to attract significant investment in the coming years.

Upbit Singapore, a subsidiary of South Korea's leading crypto exchange Upbit, has announced the acquisition of a Major Payment Institution License from the Monetary Authority of Singapore (MAS). This achievement follows the in-principle approval received in October 2023, positioning Upbit Singapore among the few fully licensed exchanges adhering to Singapore's stringent regulatory standards. The Major Payment Institution License adds to Upbit APAC's portfolio, a prominent global digital asset group, which already operates regulated exchanges in Singapore, Indonesia, and Thailand, along with managing VerifyVASP, a globally recognized Travel Rule solution provider.(Source: Cryptonews)

The much-anticipated approval of a Bitcoin Exchange-Traded Fund (ETF) in the United States is nearing fruition, as major players such as BlackRock, Grayscale, and 21Shares have submitted crucial 19b-4 amendments in response to the Securities and Exchange Commission's (SEC) request. This marks a crucial stage in the approval process, hinting at possible unofficial approval. The next steps involve asset managers completing S-1 documents, potentially paving the way for US exchanges to list shares of investment securities linked to Bitcoin. Analysts expect the SEC to review the documents next week, with ETF trading potentially commencing the following Thursday if approved. Despite this positive development, the cryptocurrency market has shown limited excitement, with Bitcoin struggling to recover from recent declines and trading below $44,000. Other cryptocurrencies, including Solana and Ethereum, also exhibit cautious investor sentiment.(Source: Cryptopolitan)

Companies in Nigeria's cryptocurrency sector are responding to the Central Bank of Nigeria's (CBN) approval of the cNGN stablecoin project. Nigerian banks and fintechs, part of the Africa Stablecoin Consortium (ASC), introduced cNGN in December, aiming to provide benefits to token holders and the Nigerian economy. Crypto analyst Rume Ophi believes the country's crypto community will appreciate the new stablecoin, emphasizing the importance of promotion and education efforts. While there are reports that cNGN will complement Nigeria's stablecoin eNaira, opinions differ on the compatibility of stablecoins on public and private blockchain networks. (Source: Cointurk)

Próspera ZEDE, the special economic zone in Honduras, has formally acknowledged Bitcoin (BTC) as a legitimate unit of account. The recognition covers various commercial, tax, and financial transactions within the zone. The announcement, made by Jorge Colindres, acting manager and Tax Commissioner of Próspera ZEDE, outlines the conditions under which legal entities can adopt Bitcoin as their unit of account. Entities interested in doing so must file a notice with the Tax Commissioner within thirty days of the relevant tax period, referencing an approved major cryptocurrency exchange, such as Kraken or Coinbase. (Source: Finbold)