In a move towards gaining approval for a spot Ethereum exchange-traded fund (ETF), Ark Invest and 21Shares recently submitted an amended joint application, as revealed in a Feb. 7 S-1 filing. While some positive progress has been made, challenges lie ahead, and the ultimate decision from the U.S. Securities and Exchange Commission (SEC) is eagerly
Regulation
In a statement released on February 5th, Grayscale CEO Michael Sonnenshein emphasized the importance of regulators approving spot Bitcoin exchange-traded fund (ETF) options. Sonnenshein highlighted that although the Grayscale Bitcoin Trust (GBTC) has been available to the public since 2015, it currently lacks listed options, as they are not offered in the Over-The-Counter (OTC) market.
The South Korean Financial Services Commission (FSC) has recently unveiled significant legislative amendments aimed at tightening regulations surrounding virtual asset business operators. These amendments focus specifically on enhancing the accountability and duties of executives in the crypto industry. The proposed changes, outlined in the Enforcement Decree of the Act on Reporting and Use of Specific
The road to regulatory approval for spot Bitcoin exchange-traded fund (ETF) options may not be as smooth as initially anticipated. According to Martin Leinweber, the digital asset product strategist for MarketVector Indexes, the approval process for these options could take anywhere from two to ten months, potentially pushing the approval date for these options as
In a scathing critique, the Chief Legal Officer (CLO) of Coinbase, Paul Grewal, expressed his disappointment with the U.S. Securities and Exchange Commission’s (SEC) legal filing on January 30th. Grewal took to the company’s official blog, X, to address the insufficient nature of the SEC’s administrative record and its failure to provide justification for the
The European Securities and Markets Authority (ESMA) has released new guidance stating that EU-based crypto firms can provide services to non-EU customers in certain situations. According to ESMA, this is subject to the condition that the client is the exclusive initiator of the service. While this allowance, known as reverse solicitation exemption, provides some flexibility,
The chair of the U.S. Commodity Futures Trading Commission (CFTC), Rostin Behnam, recently delivered a speech in Naples, emphasizing the necessity for increased supervision in the cryptocurrency industry. While the approval of Bitcoin ETFs is a positive development, Behnam believes that it does not imply comprehensive regulation. In his address, he highlighted the challenges and
The approval of spot Ethereum ETFs by the U.S. Securities and Exchange Commission (SEC) has been a topic of much speculation and discussion in recent months. With varying opinions and expectations, it is important to examine the SEC’s stance on this matter more closely. FOX Business reporter, Eleanor Terrett, recently shed light on the SEC’s
In a recent reminder, the IRS has urged all taxpayers to provide information about their digital assets and report any income generated from such assets. The inclusion of a question regarding digital assets in tax forms is a significant development, reflecting the growing importance of cryptocurrencies, non-fungible tokens (NFTs), stablecoins, and other digital currencies. This
Senator Elizabeth Warren recently found herself in the midst of significant backlash from the crypto community after making disparaging remarks about the industry. In a post on X (formerly Twitter) on January 21, Sen. Warren referred to a report from the U.S. Government Accountability Office (GAO) that alleged “rogue nations” were using cryptocurrency to evade
The U.S. Securities and Exchange Commission (SEC) is seeking input and comments on proposed rule changes that could potentially allow options trading on Bitcoin exchange-traded funds (ETFs). This move could have significant implications for investors and the cryptocurrency market as a whole. The SEC has opened comments on two separate proposals related to options trading
The U.S. Securities and Exchange Commission (SEC) recently announced a delay in its decision regarding Fidelity’s proposed spot Ethereum exchange-traded fund (ETF). This development has raised concerns and uncertainties within the cryptocurrency market. In this article, we will delve into the implications of this delay and its potential impact on the approval of Ethereum ETFs.
In a recent court hearing between Coinbase and the U.S. Securities and Exchange Commission (SEC), crucial arguments surrounding the classification of cryptocurrencies were presented. The SEC had accused Coinbase of operating as an unregistered national securities exchange, broker, and clearing agency. Additionally, the commission argued that Coinbase’s crypto staking service involved the sale and offering
In recent years, the use of cryptocurrency mixers, also known as tumblers, has become increasingly concerning. Originally designed to protect the privacy of users with significant funds, these protocols have unfortunately been exploited by criminal organizations for illicit financial activities. The South Korean Financial Intelligence Unit (FIU) of the Financial Services Commission has recognized this