RABIT Weekly News(W2 March 2023)

The United States federal reserve chair said he ‘does not want to damage virtual asset innovation with excessive regulations.’ He said cryptocurrency and blockchain are innovative fields, but they are also industries that are just starting, and therefore he is closely monitoring areas that require regulations or policies.
CFTC chair said, “ETH is a commodity and therefore is subjected to fall under the jurisdiction of the CFTC.” If ETH is classed as a commodity rather than SEC, CFTC will hold the jurisdiction of ETH. The crypto industry prefers the supervision of the CFTC, which shows a market-friendly attitude.
Binance is currently acquiring Gopax, a Korean crypto exchange. Binance tried to enter the domestic market by establishing Binance Korea in 2020, but it has stopped, and now it is trying to re-enter the Korean market by acquiring the Korean exchange.