CryptoBlog n.2278
🖼 Flyfish Club Fined $750K by SEC for Selling NFT Securities The U.S. Securities and Exchange Commission (SEC) has fined Flyfish Club, a restaurant project, with a hefty $750,000 settlement for allegedly selling unregistered crypto asset securities. According to a cease and desist order issued on September 16, Flyfish Club sold 1,600 NFTs to U.S. investors, making $14.8 million. The SEC claims these NFTs, which were meant to provide access to a yet-to-be-built Manhattan restaurant, were essentially securities and thus needed to be registered.
CryptoBlog n.2277
Australia plans to require crypto firms to obtain financial services licenses, as many assets are now considered financial products. ASIC aims to update guidance on crypto tokens by November to reduce risks and protect consumers.
CryptoBlog n.2276
💰 BlackRock’s #Bitcoin ETF options approval set to enhance market liquidity and participation The US Securities and Exchange Commission recently approved listing options on BlackRock’s iShares Bitcoin Trust (IBIT) spot ETF. This development provides investors additional tools for hedging or speculating on Bitcoin price movements. According to a recent report by CryptoQuant, the approval could increase liquidity and investor participation in the Bitcoin market, marking a further step toward broader institutional adoption.
CryptoBlog n.2275
🖼 Magic Eden Having ‘Best Year Ever’ Despite NFT Market Slump: CEO While the NFT market has lost considerable steam since peaking two years ago, the marketplace Magic Eden has been reaching new heights on its own, according to CEO Jack Lu. When Magic Eden launched in September 2021, the NFT market saw $4.2 billion in JPEGs trade hands, according to CryptoSlam. At that time, Magic Eden was precluded from some of the NFT market’s buzziest projects, as the most successful ones ran rampant on Ethereum.