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The short squeeze has surprised markets on many occasions. Learn more about what it is, its causes and the effects on traders.

According to Cointelegraph: The United States Securities and Exchange Commission (SEC) has imposed a $2.5 million fine on BlackRock Advisors, LLC, one of the world's largest asset managers. The penalty comes as a result of BlackRock's failure to accurately describe its significant investments in the entertainment industry, according to the SEC. iShares Bitcoin ETF listing on DTCC. Source: DTCC Between 2015 and 2019, BlackRock's Multi-Sector Income Trust (BIT) allegedly made major investments in a print and advertising business called Aviron Group, LLC, through a loan facility. The SEC's accusation centers around BlackRock erroneously classifying Aviron as a "Diversified Financial Services" provider in several of BIT's yearly and semi-annual public reports. Furthermore, the SEC claims that BlackRock misrepresented the interest rate associated with its investment in Aviron. BlackRock identified and rectified these mistakes in 2019. Meanwhile, BlackRock has recently attracted attention in the crypto community due to a proposed spot Bitcoin ETF. The SEC's charges against BlackRock coincided with the listing of its spot Bitcoin ETF by the Depository Trust & Clearing Corporation (DTCC). The sighting of the ETF listing led many to believe that regulatory approval for the product was imminent. Nevertheless, a DTCC spokesperson clarified that the iShares Bitcoin ETF has been listed on the platform since August, with the listing not necessarily indicating regulatory endorsement.

According to Reuters: Euroclear, one of the world's largest securities settlement houses, has announced its first settlement of a digital note for the World Bank. The bond, which was issued on the Luxembourg Stock Exchange, successfully raised 100 million euros ($106 million) to fund sustainable development activities. The Brussels-based settlement house reported that the event marked the introduction of its new digital securities issuance service. This service allows customers to issue, distribute, and settle fully digitalised international security using distributed ledger technology (DLT) or blockchain, the technology behind cryptocurrencies. This development reflects the latest move in traditional market infrastructure such as settlement houses into the digital realm as regulatory bodies become increasingly accepting of such technology. Euroclear's digital platform aligns with the European Union's rules for settlement systems and is connected to its core settlement system handling trillions of euros in securities worldwide. "Euroclear Group's CEO, Lieve Mostrey, stated, ""Today’s launch marks an important moment for our clients and for the potential of digital assets."" Citi bank's issuer services acted as the issuing and paying agent, TD Securities as the dealer, and Euroclear Bank as the issuer central securities depository. Anshula Kant, Managing Director and Chief Financial Officer at the World Bank Group, expressed satisfaction at the World Bank's involvement in the new service, especially remembering their previous issuance of the world's first blockchain bond in August 2018. The world of issuing and settling securities on the blockchain is still developing with various pilot programmes but no seamless market facilitating their connection yet. UK Finance reported that despite the growth in digital bond issuance in recent years, it accounted for less than 1% of the $20.6 trillion in long-term fixed income instruments issued in 2021.

BlackRock, the world's largest asset manager, is stepping up its efforts for the launch of a Bitcoin spot Exchange-Traded Fund (ETF), as evidenced by recent amendments to its S-1 filing. The financial giant has procured a CUSIP, or Committee on Uniform Securities Identification Procedures number, a prerequisite in the lead-up to the ETF launch. CUSIP numbers serve as distinct identifiers for securities issued within the United States. Beyond this, BlackRock is reportedly ramping up its provisions for Seed Capital, a fundamental infrastructure for launching a new ETF. Seed Capital constitutes assets bought by the issuer itself for the recently launched product to satisfy the prospective demand for ETF shares. As per regulatory norms, a new ETF requires a minimum of 100,000 shares outstanding at launch. To meet this threshold, ETFs generally initiate with a minimum of $1 million in Seed Capital, with the figure often surpassing $2.5 million. BlackRock's recent moves, as discerned from their amended S-1 filing, indicates the company's preparations for a Bitcoin spot ETF are well underway.

The Thai government has postponed its proposed plan to issue digital currency to its citizens. Deputy Finance Minister Julapun Amornvivat confirmed the delay, indicating that the initiative to distribute 10,000 baht (approximately US$280) to each Thai citizen over the age of 16 will not commence before February 1, 2024, as initially planned. Previously, Prime Minister Setah Tasha had proposed issuing around 548 billion baht (approximately US$15 billion) in digital currency - an allotment of roughly 10,000 baht for each Thai citizen above 16. This digital currency distribution was intended to be carried out via a new "super application". The Pheu Thai Party viewed this plan as a pivotal part of their strategy for stimulating economic recovery in Thailand.

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A recent study conducted by the Atlantic Council, an American think tank, reveals that as of June 2023, 130 countries globally are participating in Central Bank Digital Currency (CBDC)-related initiatives. 11 of these nations, including several Caribbean countries and Nigeria, have already introduced their own CBDCs. Sweden, leading the pack, has actively initiated trial operations for its CBDC, indicative of significant progress amongst G20 member nations in this innovative financial technology sector.

According to CoinDesk: The U.S. Securities and Exchange Commission (SEC) has scored a default judgement against Thor Technologies and its founder, David Chin, over a $2.6 million unregistered offering of cryptocurrency asset securities. This ruling comes from a San Francisco district court nearly a year after the SEC first brought charges against Thor Technologies in December 2022. A default judgment typically happens when the defensive party doesn't meet specific actions, such as attending a trial or meeting document filing deadlines. Thor Technologies and Chin were charged with selling "Thor Tokens" to raise funds for a software platform designed for gig economy workers and companies. These tokens were not registered with the SEC and were promoted as an investment opportunity. Thor announced in April 2019 that it would shut down its operations due to "many regulatory challenges" Under the court's decision, Thor and Chin are prohibited from participating in any cryptocurrency asset securities offering. They are also ordered to disgorge $744,555 with a prejudgment interest of $158,638.06. However, Chin is still allowed to buy or sell securities, including crypto-asset securities, for his personal account.

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As reported by Cointelegraph: According to the General Manager of Binance's local operation in Dubai, Alex Chehade, the certainty and clarity of regulatory frameworks in the Middle East immensely contribute to drawing in major cryptocurrency exchanges and businesses to the region. The area, including the UAE, Dubai, and Bahrain, has offered a friendly environment for crypto startups and established players due to its regulatory openness. Chehade argued that the Middle East, particularly Dubai with its Virtual Assets Regulatory Authority and Abu Dhabi with its Global Market framework, stands out by offering clear and specific compliance guidelines for virtual assets. Chehade also noted Bahrain's central bank's acceptance of cryptocurrencies. He further stated that many other jurisdictions struggle in this aspect due to lacking the necessary knowledge or capacity to regulate the burgeoning industry effectively. With Binance now employing approximately 600 individuals in its Dubai operation, the company sees itself as a catalyst encouraging Web3 companies to establish a presence in the region. Fostering a "healthy environment with big and small players", the platform continues to operate as a regulated exchange in Dubai segregated from its other global operations. Taking a similar stance, Akshay Chopra, Visa’s vice president, and head of innovation and design, lauded the region's forward-looking perspective on blockchain and crypto solutions. According to Chainalysis, the Middle East and North Africa (MENA) region has become the fastest-growing cryptocurrency market worldwide, with users receiving $566 billion in crypto transactions from July 2021 to June 2022.