Grayscale asks SEC to meet on ‘way forward’ for Bitcoin ETF conversion
Grayscale has told the Securities and Exchange Commission it has no legal reasoning left to block the conversion of the asset manager’s flagship Bitcoin fund to a spot exchange-traded fund (ETF).
On Sept. 5, Grayscale’s lawyers sent a letter to the SEC requesting the pair meet to discuss the next steps following the regulator’s court loss regarding the conversion of the Grayscale Bitcoin Trust (GBTC).
“Now that the Court of Appeals has spoken, there is no available rationale that would distinguish a Bitcoin futures ETP from a spot Bitcoin ETP under the legal analysis previously adopted by the Commission in rejecting spot Bitcoin ETPs.”
Grayscale added it believes the SEC should conclude there are “no grounds” for treating the GBTC differently from Bitcoin futures ETFs whose filings “the Commission has previously approved.”
El Salvador to include Bitcoin Education in schools
El Salvador’s Ministry of Education collaborated with the non-profit group Mi Primer Bitcoin (MPB), to include Bitcoin teaching into the national curriculum by 2024.
MPB’s founder, John Dennehy, has stated that the initiative is a Ministry of Education initiative. And that MPB is contributing to it together with Bitcoin Beach. Dennehy claims that the Mi Primer Bitcoin course, upon completion of which students obtain a certificate, will serve as the major resource for the Bitcoin part.
Moreover, the trial program’s training, facilitated by Bitcoin Beach, will begin on September 7, he stated. Also, 150 public school educators from seventy-five schools will be put through the Bitcoin diploma program. In order to get a “base knowledge” of Bitcoin.
South Korea’s second biggest bank to integrate crypto’s
KEB Hana Bank, one of the largest banks in South Korea, and BitGo are collaborating, according to an announcement made at the Korea Blockchain Week in Seoul.
It was stated that Hana Bank will partner with digital asset custody provider BitGo. Accordingly, BitGo will help develop Hana Bank’s cryptocurrency custody services in the second half of 2024.
It was also stated that BitGo will prepare the necessary licenses to comply with local regulations in South Korea and that they plan to open an office in the country in the second half of 2024.
The following statements were made in the joint press release from Hana and BitGo:
“The partnership is expected to be a significant milestone in raising the standards of the local digital asset market to the global level and encouraging institutional participation in the market.”