• US prosecutors are set to issue a superseding indictment against Sam Bankman-Fried.
• The Federal Reserve has established the ‘Novel Activities Supervision Program’ to oversee emerging financial technologies.
• BlackRock and Invesco insiders have claimed that Bitcoin ETF approval is expected in the next four to six months.

US Prosecutors To Issue Superseding Indictment

US prosecutors are set to issue a superseding indictment against Sam Bankman-Fried, the founder of digital asset trading platform FTX. The new indictment will include additional charges beyond those already made by federal authorities against Bankman-Fried.

Federal Reserve Establishes Novel Activities Supervision Program

The Federal Reserve has created the ‘Novel Activities Supervision Program’ in order to oversee emerging financial technologies such as digital assets, cryptocurrency, and other digital payment solutions. The program will provide regulatory guidance and oversight for these innovative activities, ensuring that they adhere to existing rules and regulations.

Hong Kong Securities Regulator Warns Unlicensed Platforms

The Hong Kong securities regulator has warned unlicensed virtual asset trading platforms that they may face steep fines or even imprisonment if found violating the law. This comes as part of their efforts to ensure proper regulation of digital assets within their jurisdiction.

Tim Cook Highlights AI And Machine Learning

Apple CEO Tim Cook highlighted the importance of artificial intelligence (AI) and machine learning during an earnings call on Aug 8th. He noted how these technologies are being integrated into virtually every product Apple is building today, emphasizing its critical role in future development plans for the company.

BlackRock And Invesco Insiders Predict Bitcoin ETF Approval

BlackRock and Invesco insiders have claimed that regulatory approval for a spot Bitcoin exchange-traded fund (ETF) is expected within the next four to six months according to Mike Novogratz during Galaxy Digital’s second quarter earnings call on August 8th. If approved, this would open up access for institutional investors who may be hesitant about entering into direct investments with digital currencies due to legal uncertainty surrounding them.