Friday’s proposal, which details how regulated firms must only put customer assets into an expanded list of the most liquid of investments, doesn’t consider “the context of a non-intermediated clearing model where the DCO offers direct client access to its clearing services, without the FCM as an intermediary,” said CFTC Commissioner Kristin Johnson. Source
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 Argument to Support ETF Pursuit Nate Geraci, co-founder of The ETF Institute and the host of the ETF Prime Podcast, has recently shared his insights on the ongoing dialogue between Hashdex and the SEC, shedding…
Bitcoin is enjoying price spikes and increased trading volumes as Fidelity and others amend proposals while the market awaits an approval. The price of Bitcoin (BTC) hit $28,817 today in response to amendments to spot Bitcoin ETF applications submitted to the United States Securities and Exchange Commission (SEC). However, as of this writing, Bitcoin has fallen to $28,379 according to data from CoinMarketCap, a 4.3% increase over the last 7 days. The initial increase put Bitcoin at a new two-month record and a 7% weekly gain. Fidelity Amended its spot…
The Australian government is floating a proposal that if implemented will require crypto exchanges to seek licensing from the country’s financial services and financial markets regulator to operate. According to the proposal, a digital asset intermediary must obtain an Australian financial services license granted by the Australian Securities and Investments Commission (ASIC) to “issue and deal in digital asset facilities.” The proposal says that digital asset intermediaries holding assets with a value not exceeding $5 million AUD ($3.18 million) are exempt from the Australian financial services license requirements. The proposal…
The Australian federal government may soon require cryptocurrency exchanges to hold a financial services license issued by the local financial regulator, the Australian Securities and Investment Commission (ASIC). In the newly-unveiled “Regulating digital asset platforms” consultation paper, released on Oct. 16, the Australian Treasury said that the new regulatory framework aims to address consumer harms while still supporting innovation in the digital asset sector. Regulating digital asset platforms proposal. Source: The Australian Government Treasury The core theme of the new regulatory framework is that it aims to regulate cryptocurrency exchanges…
In August, the Treasury Department published its nearly 300-page proposed rule, meant to finally comply with the 2021 Infrastructure Investment and Jobs Act. It sets out reporting obligations for centralized crypto exchanges, payment processors, some hosted wallet providers, some decentralized exchanges and people or entities that redeem crypto tokens. Source
By now, most of the cryptosphere has heard of Privacy Pools — a project launched this year by Ameen Soleimani, a well-known developer and founder. As a former contributor to Tornado Cash, Soleimani aimed to “fix” the popular open-source solution for anonymising Ethereum transactions in order to make it regulator-friendly. The original teaser, shown in March, was based on an idea initially espoused by Ethereum co-founder Vitalik Buterin in 2022. But it somehow failed to attract the attention of the crypto hive-mind. It was only weeks ago — after Buterin…
In a recent court filing, FTX, the crypto exchange currently navigating bankruptcy, has made last-minute adjustments to its proposal concerning the sale of its Bitcoin and crypto holdings. This move is seen as an attempt to address concerns raised by the US Trustee, the bankruptcy branch of the Department of Justice. FTX’s initial proposal, which is set to be reviewed in a Delaware Bankruptcy Court today, September 13, aimed to liquidate $3.4 billion in Bitcoin and other crypto assets. The market had been rife with concerns about the potential impact…
The bankrupt crypto exchange wants to sell off its billions of dollars in crypto before returning funds to creditors – but doesn’t want markets forewarned Source
A debate has reignited among Bitcoiners over a six-year-old Bitcoin Improvement Proposal (BIP) to add “sidechains” on top of the network, with some warning it could increase scams on the Bitcoin network and others saying it will bring new users of the cryptocurrency. Meanwhile, one developer claims to have found a way to achieve the proposal’s goal without a soft fork of the blockchain. The proposal in question, BIP-300 — also known as Bitcoin (BTC) Drivechains — was first introduced in 2017, which proposed introducing “sidechains” that are separate blockchains…