📰 Daily Crypto News Roundup - August 30, 2023

Welcome to today's crypto news roundup, where we bring you the most important headlines from cryptocurrency and blockchain technology.

1️⃣ Bitcoin Surges After Grayscale Wins Appeal Against SEC

Bitcoin's price significantly surged following the United States Court of Appeals for the D.C. Circuit's ruling in favour of Grayscale against the U.S. Securities and Exchange Commission (SEC). Grayscale's appeal relates to its quest to launch a Bitcoin spot exchange-traded fund (ETF). The court found the SEC's denial of Grayscale's proposal to be "arbitrary and capricious" due to inconsistent treatment of similar products. While this victory is a positive development for Grayscale, it does not guarantee the eventual listing of a Grayscale spot Bitcoin ETF.

Source: https://decrypt.co/154118/bitcoin-surges-after-grayscale-wins-appeal-against-sec

2️⃣ Crypto Bank SEBA Obtains Approval-In-Principle in Hong Kong

SEBA Bank, a Switzerland-based crypto-friendly bank, has received an approval-in-principle from Hong Kong's Securities and Futures Commission. This marks the first step toward acquiring a full license, allowing the bank to engage in securities-related activities, including crypto products such as over-the-counter derivatives and structured products. SEBA's expansion aligns with Hong Kong's efforts to foster responsible growth within the digital assets industry.

Source: https://www.theblock.co/post/247818/crypto-bank-seba-obtains-approval-in-principle-in-hong-kong

3️⃣ Tether Partners with Bahamas-Based Britannia Amid Banking Challenges

Stablecoin issuer Tether has reportedly partnered with Bahamas-based Britannia Bank & Trust to process dollar transfers on its platform. As Tether faces ongoing banking challenges and regulatory scrutiny, this move adds another partner to its network. The secrecy surrounding Tether's banking relationships has been a concern, potentially affecting regulatory approvals and institutional participation in cryptocurrency.

Source: https://www.bloomberg.com/news/articles/2023-08-29/tether-usdt-adds-bahamas-based-britannia-bank-trust-as-banking-partner

4️⃣ Robinhood Ends Crypto Partnership with Jump Trading

Robinhood and Jump Trading, which played a crucial role in Robinhood's no-fee crypto business, have reportedly ended their partnership. This partnership was instrumental in facilitating the smooth trading of billions of dollars in volume on Robinhood's platform. The end of this partnership raises questions about the regulatory challenges and uncertainties in the U.S. crypto market.

Source: https://www.coindesk.com/business/2023/08/29/robinhood-and-jump-trading-no-longer-have-crypto-partnership-source

5️⃣ Binance Launches 'Send Cash' Crypto-to-Bank Payment Solution in Latin America

Binance, a prominent crypto exchange, has introduced a new crypto-to-bank account payment solution called 'Send Cash.' This service enables crypto transfer from Binance Pay to bank accounts in select Latin American countries, including Colombia, Honduras, Guatemala, Argentina, and more. This move enhances crypto accessibility and adoption in the region.

Source: https://cointelegraph.com/news/binance-crypto-bank-account-payments-latin-america

Stay informed with these important updates from the cryptocurrency and blockchain space. Remember to conduct thorough research before making investment decisions, and stay updated on the latest developments shaping this rapidly evolving industry.