#FTXRefunds The Web3 industry is experiencing significant regulatory and market developments in June. Here are some key updates¹:
- *SEC Reviewing Grayscale's Ethereum ETF*: The U.S. Securities and Exchange Commission (SEC) is reviewing the staking feature of Grayscale's spot Ethereum ETF, which could impact the approval process.
- *US House of Representatives Conducting Hearings*: The U.S. House of Representatives is holding a stablecoin hearing and a DeFi roundtable, indicating ongoing regulatory actions in the United States.
- *Global Regulatory Trends*: Governments and regulatory bodies worldwide are adjusting policies to accommodate the growing Web3 market, with a focus on consumer protection, market integrity, and preventing illicit activities.
- *VASP Regulation*: Countries are establishing clear licensing systems for Virtual Asset Service Providers (VASPs) to enhance transparency and compliance, combating money laundering and terrorist financing.
- *EU's Regulatory Framework*: The European Union's Markets in Crypto-Assets Regulation (MiCA) aims to standardize regulations for crypto-assets across the EU, focusing on consumer protection, innovation, and financial stability.
Some notable regulatory developments globally include² ³ ⁴:
- *Hong Kong's VASP Licenses*: The Securities and Futures Commission (SFC) in Hong Kong has granted licenses to seven cryptocurrency exchanges, enhancing industry transparency and market trust.
- *EU's Anti-Money Laundering Regulation*: The EU is updating its anti-money laundering regulation to regulate virtual currency business transactions in non-custodial wallets, with implementation expected by 2027.$ETH
