Tag: SEC

US SEC Delays Decision on Multiple Ethereum ETFs, What’s Next?

In the recent filing, the US SEC stated that they are still considering on whether these Ethereum ETFs should be listed. The United States Securities and Exchange Commission (SEC) has announced a delay in its decision on several Ethereum (ETH) exchange-traded funds (ETFs) until May 2024. As per regulatory filings on December 18, the SEC postponed its decision on the Hashdex Nasdaq Ethereum ETF and the Grayscale Ethereum Futures ETF. The Hashdex Ether ETF shall hold both spot Ether and futures contracts. Similarly, Grayscale’s Ethereum Futures ETF is a strategic…

SEC delays several Ethereum ETFs, pushing final decision to May

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The United States Securities and Exchange Commission is pushing back its decision on several Ether (ETH) exchange-traded funds (ETFs) to May 2024. In several Dec. 18 regulatory filings, the agency delayed its decision on the Hashdex Nasdaq Ethereum ETF and the Grayscale Ethereum Futures ETF. The Hashdex Ether ETF aims to hold both spot Ether and futures contracts, while Grayscale’s Ethereum Futures ETF is seen as a “trojan horse” that would corner the SEC into allowing Grayscale to convert its Ethereum Trust to a spot Ethereum ETF. In the filings, the…

Coinbase appeals SEC rulemaking petition denial as promised

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Coinbase is continuing its efforts to ensure adequate legislation on cryptocurrency used as securities. After the United States Securities and Exchange Commission (SEC) denied Coinbase’s petition for rulemaking on cryptocurrency on Dec. 15, the crypto exchange appealed the decision on the same day. Coinbase chief legal officer Paul Grewal promised immediate action as soon as the SEC’s denial became known. On Dec. 18, the U.S. Third District Court of Appeals ordered the SEC to file the record of its decision by Jan. 24, 2024. In its appeal, Coinbase documented the…

SEC chair, lawmakers are ‘gaslighting’: CryptoLaw founder

CryptoLaw founder John E. Deaton is clapping back at U.S. Securities and Exchange Commission (SEC) chair Gary Gensler after a proposal from Coinbase to create new crypto-specific rules was rejected. This week, the SEC rejected Coinbase’s 30-page “petition for rulemaking.” Gensler contends that the current securities framework adequately governs crypto asset securities and is actively addressing the crypto securities markets through rulemaking and enforcement.  The SEC’s decision prompted Coinbase to file an immediate court challenge. The company has sought a review from the U.S. Court of Appeals for the Third…

SEC faces accusations of contradiction in Coinbase rulemaking dispute

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In the ongoing legal dispute between Coinbase Global Inc. and the U.S. Securities and Exchange Commission (SEC), the XRP holder’s lawyer, John Deaton, has accused the SEC’s top official, Gary Gensler, of ‘gaslighting’ the public and disagreed with his stance on cryptocurrencies. The development in Coinbase’s rulemaking request occurred when the SEC rejected the trading platform’s petition based on three reasons. These reasons encompass applying current securities laws to cryptocurrencies, the SEC’s engagement with the crypto securities markets through rulemaking, and the significance of preserving the Commission’s discretion in establishing…

SEC meets with BlackRock for iShares Bitcoin ETF 

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In their latest meeting, SEC and BlackRock reportedly discussed the iShares Bitcoin ETF on Dec. 14, raising questions about in-kind transactions. Unlike previous meetings, James Seyffart, a Bloomberg Intelligence analyst, reports that there were no presentations. As part of a follow-up thread on X, Seyffart reminds the community that Hashdex, another firm in the spot Bitcoin ETF race, had also engaged with SEC’s Office of the Chair. After this, a community member asked Seyffart about the likelihood of SEC approval, given Chairman Gary Gensler’s comment on listening to the courts from yesterday. …

SEC officials meet again with spot Bitcoin ETF filers

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The United States Securities and Exchange Commission has held a new round of discussions with asset managers proposing a spot Bitcoin (BTC) exchange-traded fund (ETF) in the U.S., this time with officials from Gary Gensler’s office participating in the meetings. Based on court filings, the regulator received representatives from BlackRock on Dec. 14 to discuss the proposed rule change that would enable the crypto investment vehicle to be traded on major exchanges. According to Bloomberg ETF analyst Jayme Seyffart, this is the third meeting between BlackRock and the SEC to…

SEC responds predictably to Coinbase’s 2022 crypto rulemaking petition: No

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The United States Securities and Exchange Commission has denied a Coinbase petition for rulemaking on transactions with cryptocurrencies that are securities. Coinbase filed the petition in July 2022 and pushed steadily for a response. SEC Chair Gary Gensler announced the commission’s decision in a Dec. 15 statement. He gave three reasons for denying Coinbase’s petition, which requested “rules to govern the regulation of securities that are offered and traded via digitally native methods, including potential rules to identify which digital assets are securities.” Gensler first argued that existing laws and…