Legacy Fintech players trying to get a piece of the pie?

The big players in the Fintech sector are unlikely to miss out on the shift taking place but how will they proceed into riding the BTC bull?

I have gathered some of the more interesting news on that topic with a little summary on each one of them below:

• Bank of International Settlements calls for Blockchain-based sustainable Finance Solutions

• PayPal still distracted with web3

  off-ramp service to convert crypto tokens to USD directly from wallets into PayPal accounts.

• Co-Founder of PayPal David Marcus getting into LN?.

• David Marcus getting orange pilled and building a bitcoin company

  "The idea with Lightning and the company he’s building, which is basically Bitcoin payments in a box for companies, is that it’s happening so fast, and it’s using microtransactions, so micro fractions of Bitcoins, called Satoshis, with this Lightning network, of course, that you don’t even know that Bitcoin is being transacted, and it happens so fast that the price fluctuations don’t matter."

SEC still playing games?

• In the meanwhile under Gensler's, at best, questionable leadership and decision making, the SEC has postponed the first BTC ETFs decision dates.

"The SEC published a filing Tuesday — weeks before its Nov. 11 deadline to do so — postponing its decision date for the Ark 21Shares Bitcoin ETF to Jan. 10. The disclosure signals the regulator could take the full 240 days it is allotted to rule on the product. "

• BlackRock ETF application delayed as well.

  Seyffart said the timing of the delays is related to the expected U.S. government “shutdown” potentially taking place on Oct. 1, which will disrupt the country's financial regulators and other federal agencies.

• Ultimate end-date for the SEC to finally rule on the ETF applications falls in mid March 2024. link

Seems that SEC's actions are under increasing scrutiny (as they should) and the days of Gary as chair are numbered. (hopefully)

China having second thoughts?

• China, previously being pretty intolerant for Bitcoin and any other coin for that matter except their own CBDC has came out with a court decision that :

  1. Recognises Bitcoin as unique :

     The report states that among a sea of digital currencies, Bitcoin is different and unique from other digital assets.

  2. Recognises Bitcoin as personal property

     The report observed that digital assets qualify as legal property and thus are protected by the law.