STEPN Releases a New Roadmap | Cryptocurrency Trends

● Upbit Singapore has secured an in-principle approval (IPA) for Singapore's Major Payment Institution (MPI) license, enabling it to continue to offer token payment services to institutional investors whilst awaiting the grant of the full license.

● Coinbase has asked the U.S. court to force the United States Securities and Exchange Commission (SEC) to act on the rulemaking petition within 30 days.

● Binance.US announces an update to its digital asset listing process to proactively publicize assets being considered for listing. Binance.US is currently evaluating Sui (SUI).

● Mainstream Exchange Listings (CEX: Token — Time of Listing in UTC+8)

Bitget: ORBS - Oct 13 at 10:00 PM; SORA (XOR) - Oct. 16 at 07:00 PM.

● Sui Network plans to allocate an additional 40 million SUI for ecosystem and community development. (SUI announced last week that it will reallocate 117 million released SUI for developer grants, support for DApps, and more);

● STEPN releases a new roadmap with the plan to add a new leaderboard and a marathon mode in 2024.

● Tether's new CEO revealed on social media that the Tether Real World Ecosystem (RWE) will be launched soon.

● Ferrari is now accepting crypto payments for cars in the U.S. Cryptocurrency payment processor BitPay will be used in the initial phase and the service provider currently supports BTC, ETH, and USDC for transactions.

● Grayscale: ready to convert GBTC to an ETF upon SEC approval.

● Noahswap, a crypto asset synthesis and risk hedging platform, closed a US$3 million funding round with participation from Coinstore Labs.

● California's cryptocurrency industry regulatory bill, the Digital Financial Assets Act, is scheduled to go into effect on July 1, 2025. The bill compels individuals and companies to obtain a license from the Department of Financial Protection and Innovation (DFPI) to engage in the business of digital financial assets. Furthermore, the bill requires licensees to keep records for five years.

● Australia plans to regulate crypto exchanges: digital asset platforms with holdings of more than AUD 5 million (equivalent to US$3.2 million) or individuals with holdings of more than AUD 1,500 must obtain a license from the Australian Securities and Investments Commission (ASIC). (Discussions on this proposal will take place before December 1 and the draft bill is expected to be introduced next year).

● HKMA: The second round of public consultation on the regulatory framework for stablecoins to be "announced as soon as possible".

● Hong Kong Treasury Secretary: The JPEX incident is a fraud on an unlicensed virtual asset trading platform.

● The Government of the United Arab Emirates issued a white paper focused on metaverse regulation, emphasizing the potential of the subject and the areas “where the global community must strengthen its preparedness.”