Topics discussed includes Europe Launches First Spot Bitcoin ETF, Coinbase wins NFA approval to offer Bitcoin and Ether futures in US, Grayscale Wins Court Battle Against SEC and Binance limits withdrawals in Europe.

Monochrome Asset Management (Monochrome) is proud to be a major partner at the Financial Review Cryptocurrency Summit 2023 on 16 October, in Sydney. Organised by The Australian Financial Review, it is the nation’s premier crypto-asset forum for investors, policy makers, regulators and tech innovators.

Topics discussed in this edition of the Monochrome Digest includes Australia’s first spot bitcoin ETF lodged with the ASX under new rules, Argentina welcomes its first Bitcoin Futures Contract, downgrade of U.S. debt and Bulgaria holds over 200,000 bitcoin.

Since Bitcoin’s inception in 2008, the interest in Bitcoin and other digital currencies has grown significantly. Between 2010 which saw the very first exchange created which made it simpler to trade bitcoin, to the now arguably saturated marketplace for cryptocurrency exchanges, inadequate governance at cryptocurrency exchanges and other centralised crypto institutions has manifested in poor consumer outcomes.

Oftentimes within the Environmental-Social-Governance (ESG) framework, Governance can take a back seat to the Environmental and Social elements because they are seen as having farther reaching or more relevant impacts. On the other hand, some of the biggest disasters in human history, such as the Chernobyl Nuclear Accident, can be purely attributed to failures in governance. In general terms, governance refers to the process of how decisions are made and implemented.

Conceived in the wake of the 2008 global financial crisis, Bitcoin was created as an alternative to central bank-issued currencies. Years later, and the case for Bitcoin as a monetary rival has been furthered by concerns of high inflation in many smaller or less developed countries, which is devaluing citizens’ savings as the price of staple goods rise.