Tag: SEC

Ethereum surges 11% after report SEC is set to approve Futures ETF

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The price of Ether (ETH) surged around 11% to $1,700 following news that the United States Securities and Exchange Commission is set to allow the first exchange-traded funds (ETFs) based on Ether Futures. According to an Aug. 17 report from Bloomberg — which cited anonymous sources familiar with the matter — the regulator does not look as though it will block the applications of nearly twelve companies, including ProShares, Volatility Shares, Bitwise and Roundhill, that have filed to launch Ether (ETH) futures ETFs in recent weeks. Breaking The SEC is expected…

SEC Can Argue for Right to Appeal Groundbreaking XRP Ruling in Ripple Case, Judge Says

“The legal standard is a difficult one to satisfy, and the particulars of this case also do not help SEC’s argument in favor of appeal. In fact, the SEC itself has undermined its current arguments for an appeal by previously indicating that a decision in Ripple does not really bear on any other crypto securities lawsuit. It’s unlikely that the court will be persuaded by them speaking out of both sides of their mouth,” he said. “And even if Judge Torres does grant their motion, they then have another steep…

Judge grants SEC request to file motion for appeal in Ripple case

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Judge Analisa Torres has granted a request from the United States Securities and Exchange Commission (SEC) to leave to file an interlocutory appeal in its case against Ripple Labs. The securities regulator sent a letter to Torres on Aug. 9, saying her decision could affect multiple pending court cases.  According to United States laws, an interlocutory appeal occurs when a ruling by a trial court is appealed while other aspects of the case are still proceeding.  The decision allows the SEC to build and bring a case to the U.S. Court…

Files For ETH Futures ETF With SEC

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Asset management firm Valkyrie has taken a significant step by filing for an Ether or Ethereum (ETH) futures exchange-traded fund (ETF) called “Valkyrie Ethereum Strategy ETF” with the United States Securities and Exchange Commission (SEC).  Valkyrie Ether Futures ETF Include Secure Collateral Investments According to the filed documents on August 16, the proposed ETF will not directly invest in Ether, the native token of the Ethereum blockchain. Instead, it aims to acquire a portfolio of Ether futures contracts.  These contracts are traded on commodity exchanges registered with the Commodity Futures…

Binance.US request for protective order against SEC goes to magistrate judge

A federal judge overseeing the civil case between the United States Securities and Exchange Commission (SEC) and cryptocurrency exchange Binance, Binance.US, and Binance CEO Changpeng Zhao (CZ) has ordered a motion for a protective order to go to a magistrate judge. In an Aug. 16 filing in U.S. District Court for the District of Columbia, Judge Amy Berman Jackson said she would be referring a motion for a protective order against the SEC filed by lawyers for Binance.US to Magistrate Judge Faruqui for a resolution. Binance.US’ legal team filed the…

Valkyrie files for Ether futures ETF with the SEC

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Asset management firm Valkyrie has filed for an Ether (ETH) futures exchange-traded fund (ETF) with the United States Securities and Exchange Commission. According to Aug. 16 documents, the application is an addition to the company’s previous move to change its investment strategy for a Bitcoin (BTC) futures ETF in line with the regulator.  As per the application, the fund will not directly invest in Ether but will seek to purchase a number of ETH futures contracts. Ether is the native coin of the Ethereum blockchain, used for peer-to-peer transactions within…

Institutional XRP Holdings Rise Rapidly Following Ripple’s Win Over SEC

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Now that Ripple has prevailed over the SEC in court, major players are eager to get their hands on XRP. According to recent data, institutions have been getting their hands on the cryptocurrency at a steady rate, as reflected in the digital asset fund flows report.  Institutional XRP Holdings Rise Rapidly In the days following Ripple’s partial victory in the SEC lawsuit, XRP volumes and prices rose dramatically as crypto traders rushed to the cryptocurrency in anticipation of a continued bull run. However, price metrics from Coinmarketcap show that the…

US lawmakers press SEC and FINRA on Prometheum’s broker-dealer approval

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United States lawmakers on the House Financial Services Committee have demanded answers from the heads of the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) regarding under what circumstances Prometheum obtained a special purpose broker-dealer license (SPBD). In separate letters dated Aug. 9, House committee chair Patrick McHenry and 20 other members wrote to SEC chair Gary Gensler and FINRA president and CEO Robert Cook. The lawmakers questioned the “timing and circumstances” of FINRA approving Prometheum’s SPBD as they were continuing to consider legislative solutions to regulatory…

Republican Lawmaker McHenry Demands SEC Chair Gary Gensler Explain How Prometheum Got Approval

The letters raise “serious questions” about whether the SEC championed Prometheum as a poster firm to represent Gensler’s position that no new laws are needed to regulate and police crypto in the U.S., just as McHenry’s committee was about to send digital assets legislation to the House floor. For its part, Prometheum’s executives have insisted that they’ve been going step-by-step through the registration process like any other firm, and co-CEO Aaron Kaplan has argued that his firm will demonstrate the right way to build a crypto platform that’s compliant with…