Tag: SEC

SEC denies Coinbase’s plea for clear crypto regulations

According to a Dec. 15 release, the U.S. Securities and Exchange Commission has rejected Coinbase’s request for transparent crypto rules. This follows Coinbase’s filing of a narrow action in federal court that would compel the U.S. Securities and Exchange Commission (SEC) to respond yes or no to a July 2022 petition asking the SEC to use its formal rulemaking process. Regulating investments by any name On Dec. 15, Chairman Gary Gensler announced the SEC’s denial of Coinbase’s Rulemaking Petition, citing three reasons: existing laws already apply to crypto securities markets,…

First Trust files for Bitcoin ‘Buffer ETF’ with SEC

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The financial services firm First Trust is the latest company to file for a Bitcoin (BTC) exchange-traded fund (ETF), and not for a spot one. First Trust on Dec. 14 submitted a Form N1-A filing with the United States Securities and Exchange Commission (SEC) to launch a new Bitcoin-linked product called the First Trust Bitcoin Buffer ETF. According to the prospectus, the fund is designed to participate in the positive price returns — before fees and expenses — of the Grayscale Bitcoin Trust or another exchange-traded product (ETP) that seeks…

SEC is taking ‘new look’ at spot Bitcoin ETF applications

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U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler hinted that the regulator has updated its approach to Bitcoin (BTC) ETFs. In an interview with CNBC, Gensler was asked about considering applications for spot Bitcoin ETFs. In response, the head of the regulator noted that the SEC is now considering “from eight to a dozen applications.” According to Gensler, the SEC has rejected several applications in the past, however, the regulator now appears to be changing course. “We’re taking a new look at this based upon those court rulings.” Gary…

Gensler hints Grayscale ruling forced SEC to take ‘new look’ at Bitcoin ETFs

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United States Securities and Exchange Commission (SEC) chair Gary Gensler has hinted that the regulator has been rethinking its approach to spot Bitcoin (BTC) exchange-traded products following a recent Grayscale court decision. Speaking to CNBC on Dec. 14, Gensler was questioned about the long list of pending spot Bitcoin exchange-traded fund (ETF) applications. He said the SEC has “between eight and a dozen filings” going through the process at the moment. “We had in the past denied a number of these applications,” he said before adding that the courts have weighed…

SEC reevaluating spot Bitcoin ETF with fresh perspective

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U.S. Securities and Exchange Commission Chair Gary Gensler indicated a possible change in the agency’s approach towards Bitcoin ETFs. During a CNBC interview, Gensler revealed that the U.S. Securities and Exchange Commission (SEC) is reconsidering “between eight and a dozen filings” for spot Bitcoin ETFs, a move influenced by recent court decisions in the District of Columbia. 🇺🇲 SEC Chair Garry Gensler commented on @CNBC about SPOT #Bitcoin ETF. How they have been denying a dussin of these ETFs in the past, but now BlackRock… I mean Courts in DC…

SEC Chair Gensler dodges question about spot Bitcoin ETF

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Securities and Exchange Commission (SEC) Chairman Gary Gensler refused to talk about cryptocurrency after a meeting on the U.S. Treasury market. Bloomberg reporter Kailey Leinz asked Gensler about the current status of various applications for spot Bitcoin (BTC) ETFs. Gensler did not want to talk about #Bitcoin or Crypto with @kaileyleinz today after their meeting where the SEC made changes to the treasury markets haha (admittedly he does have a point but Kailey focused on treasuries for 5 minutes before this question lol) pic.twitter.com/Ll9uCGJYEX — James Seyffart (@JSeyff) December 13,…

Philippines SEC begins Binance ban countdown

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The Philippines Securities and Exchange Commission head Kelvin Lee clarified in a panel on Dec. 13 that a ban on Binance would come into effect three months after its advisory was issued. According to a report from local news BitPinas, Lee said there has been a lot of confusion on the internet about the ban after regulators issued an advisory to the cryptocurrency exchange for operating without a license on Nov. 28. He was asked to clarify the matter and that the ban was “supposed to be three months from…

SEC postpones deadline for decision on Invesco Galaxy spot Ethereum ETF

The U.S. Securities and Exchange Commission (SEC) has delayed its review of Invesco Galaxy’s Ethereum (ETH) spot ETF. Setting a new deadline of Feb. 6, the SEC has pushed back the applications of a spot ETH ETF that would allow the Cboe BZX Exchange to list and trade shares of the Invesco Galaxy Ethereum ETF. “The 45th day after publication of the notice for this proposed rule change is December 23, 2023. The Commission is extending this 45-day time period.” SEC In September, asset managers Invesco and Galaxy Digital submitted a…

SEC pushes deadline for decision on Invesco Galaxy spot Ethereum ETF to 2024

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The United States Securities and Exchange Commission has delayed its decision on whether to approve or disapprove a spot Ether (ETH) exchange-traded fund, or ETF, proposed by Invesco and Galaxy Digital. In a Dec. 13 notice, the SEC said it would designate a longer period on whether to approve or disapprove a proposed rule change that would allow the Cboe BZX Exchange to list and trade shares of the Invesco Galaxy Ethereum ETF. The proposed spot crypto investment vehicle is one of many being considered by the commission, which to…