Following the SEC’s latest filings, there have been mixed reactions, with some favoring the SEC and others supporting Binance. The United States Securities and Exchange Commission (SEC) has stated that Binance’s motion to dismiss a lawsuit filed against it has no basis in law. The federal regulator revealed this while responding to the motion against…
SEC Chair Gary Gensler said the agency would greenlight the reboot of the exchange if “Tom or anybody else” did it within the law. In an encouraging development, the US Securities and Exchange Commission (SEC) has hinted at the possibility of approving the revival of the beleaguered cryptocurrency exchange FTX, if the incoming leadership adheres…
While the crypto community eagerly awaits the SEC’s decision regarding Grayscale’s ETF application and others, SEC Chair Gary Gensler remains cautious in sharing specific details about the commission’s next steps. The US Securities and Exchange Commission (SEC) is reportedly in discussions with Grayscale Investments regarding the conversion of the Grayscale Bitcoin Trust (GBTC) into a…
It is worth mentioning that this is not the first time the SEC and Chair Gensler have faced scrutiny from US politicians. In a surprising turn of events, United States Representative Tim Burchett has proposed an amendment that seeks to drastically reduce the salary of the Securities and Exchange Commission (SEC) Chair, Gary Gensler, to…
Meanwhile, the regulator is currently in several enforcement actions against popular exchanges including Coinbase and Binance. The United States Securities and Exchange Commission (SEC) has found itself in a bit of a situation with its plans to hire crypto experts. This is according to a revelation by the SEC’s Supervisory Office of Inspector General. Per…
Over the weekend, Jeremy Hogan, an attorney and partner at Hogan & Hogan, offered his perspective on the SEC vs Ripple case. Hogan focused on the issue of disgorgement, as the SEC aims for a substantial $770 million penalty for the illicit sale of XRP to institutional investors. Hogan emphasized that the law grants the…
The legal battle surrounding Terraform Labs is not without controversy. Terra co-founder Daniel Shin’s lawyer has blamed the “unreasonable operation of the Anchor Protocol and external attacks carried out by Do-hyung Kwon” for the Terra ecosystem’s collapse. The United States Securities and Exchange Commission (SEC) is not backing down in its pursuit of justice regarding…
Although the court says that the SEC acted “arbitrarily and capriciously, in violation of the APA,” it would still allow the agency to redeem itself. Stuart Alderoty, the chief legal officer for Ripple, has expressed concerns over the state of the United States Securities and Exchange Commission (SEC) under the leadership of current chair Gary…
Today, SEC Chair Gary Gensler took to X (Twitter) to commemorate the 15th anniversary of the Bitcoin white paper. Gensler, who was nominated by President Biden to serve as SEC Chair in 2021, celebrated the publication of the original Bitcoin white paper by the pseudonymous creator Satoshi Nakamoto, along with a message that read, “If Satoshi Nakamoto went…
Experts continue to speculate on what the SEC’s next course of action regarding crypto-based ETF applications could be. The United States Securities and Exchange Commission (SEC) appears to be gearing up to reexamine Grayscale’s application to convert its Bitcoin trust into a spot exchange-traded fund (ETF). This comes after a recent decision by the D.C….
Ripple CEO Brad Garlinghouse reminds how Jay Clayton has pushed the case against Ripple while exposing his hypocrisy against the recent SEC actions. Ripple CEO Brad Garlinghouse has expressed strong criticism of former United States Securities and Exchange Commission (SEC) Chair Jay Clayton’s statements concerning the regulatory approach of the agency. In early 2023, the…
Hashdex’s proposed ETF stands out from existing cryptocurrency-related ETFs due to its unique approach, which is the purchase of physical Bitcoin. Brazilian crypto asset manager, Hashdex recently held extensive discussions with the Securities and Exchange Commission (SEC) regarding its proposal to launch an Exchange-Traded Fund (ETF) designed to purchase physical Bitcoin (BTC). Hashdex Offers Strong…
It is worth noting that the SEC’s action come only days after BlackRock unveiled its ticker symbol (IBTC) in anticipation of the approval of its spot Bitcoin Exchange Traded Fund (ETF). The US Securities and Exchange Commission (SEC) recently fined BlackRock Advisors LLC, a subsidiary firm of BlackRock Inc (NYSE: BLK), $2.5 million for failing…
Initially submitted on October 2, 2023, the proposal aims to convert the Grayscale Ethereum Trust, the largest Ethereum investment vehicle globally, into an ETF. In a recent turn of events, the US Securities and Exchange Commission (SEC) has approved Grayscale Investments’ application for a spot Ethereum (ETH) exchange-traded fund (ETF). Sharing the news on Tuesday,…
The US SEC is therefore expected to review Grayscale’s application to convert its GBTC to a spot Bitcoin ETF without prejudice. As the Bitcoin (BTC) price crossed a crucial resistance zone between $31k and 32k in the past 24 hours, the United States Securities and Exchange Commission (SEC) began its preparations to review for the…
Morgan asserts that XRP sales fail to meet at least two of Howey test prongs, making the SEC’s case weak. With the facts apparently not aligning with the Howey framework, he sees little room for the SEC to overturn the earlier judgment. In the ongoing Ripple versus SEC case over XRP, legal experts are assessing…
LBRY announced that all of its executives, staff members, and board directors had resigned. According to LBRY’s statement, the company will now focus on addressing any remaining legal obligations before completely ceasing operations. Cryptocurrency firm LBRY has announced that it will cease operations and shut down following a legal battle with the Securities and Exchange…
The US SEC moves on the backfoot as Ripple registers yet another victory in their legal battle. On Thursday, October 19, the US Securities and Exchange Commission (SEC) cleared Ripple executives – CEO Brad Garlinghouse and Executive Chairman Chris Larsen – of all charges in the lawsuit. This is the third major victory for Garlinghouse…
The SEC chair said that the Commission has a lot of applications to review for spot Bitcoin ETFs. Mike Novogratz expects a spot Bitcoin ETF coming by the year end. There’s a lot happening around the approval of the spot Bitcoin ETF in the market with the SEC losing the edge over the applicants. During…
In a significant development, the U.S. Securities and Exchange Commission (SEC) has decided not to appeal a recent court decision favoring Grayscale Investments’ Bitcoin ETF conversion plans, according to a report by Reuters. The decision, which comes after a legal battle and months of anticipation, may signal a shift in the regulatory landscape towards the…
Musk blamed the SEC and the Biden Administration for constant scrutiny into his Twitter acquisition while expressing his confusion and frustration in the matter. On Thursday, October 5, the US Securities and Exchange Commission (SEC) sued Elon Musk in order to force him to testify about the acquisition of Twitter last year. In a legal…
Grayscale Investments LLC, one of the world’s largest crypto asset managers, has secured an unexpected court win against the US Securities and Exchange Commission (SEC). A three-judge panel in DC’s Court of Appeals in Washington ruled that the SEC’s denial of Grayscale’s proposal was “arbitrary and capricious” in that the SEC failed to explain the…
If approved, the move marks a significant step towards providing investors with transparent and regulated access to crypto within familiar product structures. Grayscale Investments, one of the world’s largest asset management companies, has submitted a formal request to the US Securities and Exchange Commission (SEC) for approval to convert the Grayscale Ethereum Trust (ETHE) into…
Eric Balchuna claims that by the end of 2024, there is a 95% chance that a spot Bitcoin ETF will be approved, up from a 75% likelihood this year. The United States Securities and Exchange Commission (SEC) has once again postponed its decision on multiple proposals for spot Bitcoin exchange-traded funds (ETFs). This move, affecting…
The SEC’s case against Binance centers on its claim that BUSD was sold as an investment contract, primarily because Binance marketed it as offering yield through reward programs. In a recent development, renowned stablecoin issuer Circle has intervened in the US Securities and Exchange Commission’s (SEC) case against Binance, arguing that stablecoins should not be…
According to Binance, the SEC lawsuit has no basis in the nation’s securities laws. Cryptocurrency exchange Binance and its CEO Changpeng Zhao (CZ) have jointly filed a motion for the dismissal of the United States Securities and Exchange Commission (SEC) lawsuit against them. On June 5, the SEC filed thirteen charges against Binance, its CEO,…
The SEC enforcement chief stated that the agency’s interest in crypto goes much beyond the high-profile cases with a number of DeFi businesses on its radar. The US Securities and Exchange Commission (SEC) seems to be further determined to chase down crypto exchanges and DeFi firms. David Hirsch, head of the SEC’s Crypto Assets and…
The US SEC has reaffirmed its claims of undeniable ties between wallet provider Ceffu and Binance in its recent motion against BAM, the parent company of Binance.US. In its recent motion against BAM, the parent company of Binance.US, the US Securities and Exchange Commission (SEC) has reaffirmed that wallet provider Ceffu has undeniable ties to…
The moves appear to be in line with a recent announcement by the US SEC. Some popular non-fungible token (NFT) marketplaces have banned the Stoner Cats NFTs from being traded on their platforms. Notable examples of such marketplaces include OpenSea, Blur, and Rarible. The moves, however, appear to be in line with a recent announcement…
The SEC said Stoner Cats violated the Securities Act of 1933 by selling NFTs that qualify as investment contracts. Stoner Cats has agreed to a refund. The United States Securities and Exchange Commission (SEC) continues its widespread crackdown by going after “Stoner Cats”, an NFT-based web series from Hollywood couple Ashton Kutcher and Mila Kunis….
Hashdex’s rivals, such as Ark Invest and 21Shares, have also approached the SEC with their separate applications for spot Ether ETFs. Popular US-based stock exchange Nasdaq has formally filed an application with the Securities and Exchange Commission (SEC) seeking approval to list an Ethereum (Ether) Exchange-Traded Fund (ETF). This innovative investment vehicle is crafted to…
The SEC Chair requested Congress for more funding this fiscal year to enhance and match emerging technologies like blockchain and artificial intelligence. On Tuesday, the Chairman of the United States Securities and Exchange Commission (SEC) Gary Gensler testified before the Senate Banking Committee at the Capitol building. During the hearing, Gensler was grilled on the…
Lawyers representing Binance.US believe that, overall, the SEC’s moves so far would do more harm than good for its bidding. Binance.US has claimed that the United States Securities and Exchange Commission’s (SEC) requests have been “unreasonable” with most of its requests. This is according to sealed documents filed by attorneys of the Binance.US cryptocurrency exchange…
The analysts noted that the SEC may have to approve Grayscale’s ETF proposal and potentially other spot-based Bitcoin ETFs in order to maintain regulatory consistency. JPMorgan Chase & Co (NYSE: JPM) has predicted that the United States Securities and Exchange Commission (SEC) will be compelled to approve spot Bitcoin (BTC) Exchange-Traded-fund (ETF) applications from various…
Bitcoin continues to show weakness as the BTC price can move towards $24,000-25,000 as it goes to test the 200-week EMA once again. On Thursday, August 31, the world’s largest cryptocurrency Bitcoin plummeted by more than 4.5% with its price slipping under $26,000, losing all the early week gains after the Grayscale court ruling. The…
The SEC has just delayed BlackRock, Fidelity, WisdomTree, Invesco & Galaxy, VanEck, Bitwise, and Valkyrie’s spot Bitcoin ETF applications, as first reported by Bloomberg ETF analysts James Seyffart and Eric Balchunas. This was the first SEC decision deadline in the listing process for these applicants since filing, with the delays pushing these applications back another 45…
The court ruled that the SEC failed to provide sufficient evidence as to why Grayscale’s application to convert its Bitcoin Trust to a spot ETF was denied while the agency approved a futures ETF. The hopes for a regulated product that tracks the spot Bitcoin price in the United States were rejuvenated on Tuesday after…
Today, it was announced that the DC Circuit court of appeals is vacating SEC’s denial of Grayscale’s $GBTC conversion into a spot Bitcoin ETF. “We agree,” said Circuit Judge RAO. “The denial of Grayscale’s proposal was arbitrary and capricious because the Commission failed to explain its different treatment of similar products. We therefore grant Grayscale’s petition and…
The Ether futures ETF tracks the futures contract of Ethereum. The US Securities and Exchange Commission (SEC) is reportedly ready to approve Ether futures exchange-traded funds (ETFs), according to Bloomberg. Thus, its approval would mark a significant milestone for investors looking to gain exposure to the second-largest cryptocurrency by market capitalization. So far, there have…
Along with investing in Ether Futures, the Valkyrie Ethereum Strategy ETF will invest in other instruments like cash, cash-like instruments, or high-quality securities. On Wednesday, August 16, Valkyrie Funds filed with the US Securities and Exchange Commission (SEC) for a new fund that would specifically invest in Ether Futures. With this, Valkyrie joins the likes…
The United States Securities and Exchange Commission has announced an extension of the numerous pending Bitcoin Exchange-Traded Fund approvals decision until 2024. This move highlights the SEC‘s commitment to thoroughly assess the potential risks and benefits of a Bitcoin ETF, considering its potential impact on both the crypto market and traditional financial systems. Regulatory Hurdles…
This is an opinion editorial by Dave Weisberger, co-founder and CEO of cryptocurrency trading platform CoinRoutes. “Blockchain not Bitcoin” is dead… May that nonsense rest in peace. None other than Larry Fink, CEO of BlackRock, the world’s largest asset manager, recently echoed a sentiment I have been stressing for years: Bitcoin is uniquely positioned as…
Republican lawmakers have questioned whether the US SEC has assured enough security measures before granting Prometheum Inc. the license to operate as crypto broker. Republican lawmakers at the US Congressional Committee overseeing the Securities and Exchange Commission (SEC) are demanding an answer from SEC chair Gary Gensler over how Prometheum Inc secured a unique approval…
The former SEC official said that if Hester Peirce chairs the SEC, several crypto-related enforcement actions would come to a sudden stop. Former SEC official John Reed Stark has recently weighed on the state of the current spot Bitcoin ETF applications and why he doesn’t expect any approval this year. Earlier in June, the US…
Friday morning, the Securities and Exchange Commission (SEC) solicited comments on 21 Shares and Cathie Wood’s ARK Invest’s spot Bitcoin exchange-traded fund (ETF) application, further delaying the process. This is the second delay in the listing process for this ETF, with the first delay happening earlier this year. The third deadline for the SEC’s decision…
The US SEC filed a complaint against Bittrex on April 17 with the US District Court for the Western District of Washington alleging the exchange listed unregistered securities. The United States Securities and Exchange Commission (SEC) counted another win against the cryptocurrency market on Thursday after digital asset exchange Bittrex agreed on a $24 million…
The SEC’s handling of the Green United case offers insights into its potential approach to Coinbase’s motion to dismiss, emphasizing the significance of the “major questions doctrine” in cryptocurrency lawsuits. The recent actions by the US Securities and Exchange Commission (SEC) in its lawsuit against crypto miner Green United highlight how the securities regulator could…
The approval of spot-Bitcoin ETF remains a hot issue of debate among investors, regulators, and financial institutions. Cathie Wood, the CEO of ARK Invest has expressed belief that the US Securities and Exchange Commission (SEC) may approve multiple spot Bitcoin Exchange-Traded Funds (ETFs) simultaneously. Cathie Wood Shifts Perspective on Bitcoin ETF Cathie Wood shared her…
Ripple announced the recent ruling has pushed it to shift its approach to XRP market transparency, particularly on the escrow holdings. The recent ruling on SEC vs Ripple lawsuit has undeniably helped XRP gain in value and also traded volume. Following the ruling earlier last month, several centralized cryptocurrency exchanges including Coinbase Global Inc (NASDAQ:…
The rush to launch Ethereum spot ETFs has sparked interest in the crypto community. The crypto investment landscape is undergoing a seismic shift as six entities have rushed to file applications with the US Securities and Exchange Commission (SEC) for Ethereum (ETH) futures-based Exchange-Traded Funds (ETFs). The Rise of Ethereum ETFs This whirlwind of activity…