👮 Ethereum is being Censored

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Good Morning!

Bitcoin ETF filings have been delayed AGAIN by the SEC, which comes as a surprise to none of us. The new and final deadline that the SEC needs to make its decision by is January 10th 😴.

In an interesting post on Twitter, one Ethereum researcher shared very intriguing data on how Ethereum is becoming more and more censored over time. And if you want drama, there’s plenty happening in the NFT world, with two factions going to court, claiming ownership of the popular NFT collection, Milady Maker.

Let’s dive in 👇️ 

Markets

SEC Again Delays Decision on Ark’s Bitcoin ETF Filing (3 minute read)
The US SEC has once again postponed the approval of several Bitcoin spot ETF applications that were in its queue. One of these is the ETF application by GlobalX, originally set for a response by October 7, as they entered the competition later than their counterparts. The SEC also delayed the approval for the Ark/21Shares ETF, with the response initially expected by November 11. In a recent filing, the SEC specified January 10, 2024, as the definitive deadline for either approving or disapproving Ark's application. This deadline represents the final decision point for the agency regarding Ark's ETF application, which has faced previous delays, including one in August. Various rival firms had their deadlines in early September, and BlackRock, a prominent competitor, is now due for a decision by October 17, though this date might see further delays. Notably, this delay follows a recent demand from crypto-supportive congressmen urging SEC chair Gary Gensler to avoid discrimination against spot Bitcoin exchange-traded products.

Chase UK Bans Crypto Transactions Following Surge in Scams (2 minute read)
JPMorgan, a major banking institution, has verified that its retail division, Chase, is prohibiting its British customers from engaging in cryptocurrency transactions. Starting from October 16, British customers will no longer have the ability to purchase digital assets using a Chase debit card or transfer funds from a Chase account to a cryptocurrency platform. In an email to Decrypt on Tuesday, Chase explained that this decision was made to safeguard their customers and ensure the security of their funds. The bank further communicated to its clients that this action was prompted by a rise in crypto-related scams specifically targeting customers in the United Kingdom.

Tech

AI x Crypto (1 hour podcast)
In this week's a16z podcast episode, the focus is on the intersection of two significant and currently prominent trends: artificial intelligence (AI) and blockchains/cryptocurrencies. The discussion delves into the profound impact that the amalgamation of these domains can have on our daily lives. Whether you're someone with a casual interest or deeply involved in this space, the episode explores various critical aspects, such as deep fakes, bots, proof-of-humanity in an AI-dominated world, big data, large language models like ChatGPT, user control, governance, privacy, security, zero knowledge, zkML, MEV, media, art, and much more.

Ethereum censorship concerns raised amid rising OFAC compliance (2 minute read)
A growing number of Ethereum blockchain operators are adhering to sanctions imposed by the Office of Foreign Assets Control, sparking concerns about censorship within the decentralized network community. Ethereum researcher Toni Wahrstätter highlighted that five out of the six largest block builders on Ethereum's blockchain actively censor specific transactions in alignment with OFAC directives. The transactions primarily censored are linked to Tornado Cash, a decentralized mixer, blacklisted by the Treasury Department due to its utilization by malicious actors.

Shanghai publishes blockchain plan to support trade, metaverse, government affairs (2 minute read)
Shanghai has unveiled an action plan geared towards enhancing the technical advancement of blockchain within the city until 2025, aligning with its ongoing web3 initiatives. The plan outlines Shanghai's objectives to make significant strides in various blockchain domains, including system security, cryptographic algorithms, blockchain-specific processors, smart contracts, cross-chain interoperability, storage solutions, privacy computing, and regulatory frameworks, as stated by the Shanghai municipal government. These advancements in technology are envisioned to underpin the establishment of a foundational municipal blockchain service platform and drive progress in crucial sectors such as government services, cross-border trade, supply chains, finance, metaverse, and data element circulation, as emphasized in the official statement.

Misc

Binance Sells Russian Unit to Day-Old CommEX, Exits Country (2 minute read)
Crypto exchange Binance is set to divest its entire business operations in Russia to CommEX as part of its strategic withdrawal from the Russian market due to compliance apprehensions. Noah Perlman, Binance's chief compliance officer, emphasized that aligning with Binance's compliance strategy no longer includes operating in Russia, prompting this decision. CommEX, a recently established crypto exchange that initiated operations on Tuesday, has already listed BTC/USDT and ETH/USDT trading pairs for spot trading in July. In response to the acquisition, CommEX greeted its "new users from Russia and around the world" on its social media accounts. This move follows reports earlier this year about Binance being under scrutiny by the Department of Justice for potential violations related to U.S. sanctions against Russia, leading to a series of measures including cutting ties with sanctioned Russian banks in August.

Legal dispute around Milady NFTs accelerates with Delaware countersuit (4 minute read)
An escalating dispute concerning the leadership of the Milady Maker NFT collection has escalated from online conflicts to a legal battle. Individuals associated with the Remilia Corporation, namely John Duff, Henry Smith, Maxwell Roux, and Bruno Nispel, have accused Krishna Okhandiar of misappropriating millions of dollars and attempting to seize complete control of the company overseeing the NFT collection. This lawsuit, filed on September 22, follows a separate lawsuit initiated by Okhandiar earlier in the same month. Collectively, the involved parties claim to be founders or co-founders of the Milady Maker NFT project. Tensions within Remilia, previously perceived as a DAO, have been brewing on various fronts since the revelation in May 2022 that Okhandiar, also known as Charlotte Fang, was the person behind the contentious online persona "Miya."

🐥 Best of Twitter

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