Tag: SEC

Spot Bitcoin ETFs, TrueUSD, Coinbase vs. SEC

boss

This week, spot Bitcoin ETFs recorded impressive inflows as the digital currency continued to battle the bears at the $41,000 mark. Meanwhile, the crypto scene witnessed updates on the Coinbase vs. SEC case. First week of trading: spot Bitcoin ETFs This week marked the first trading week for the recently-approved spot Bitcoin exchange-traded funds. Most products saw massive inflows, with BlackRock’s IBIT recording $500 million and Fidelity’s FBTC seeing $421 million inflows, per a Jan. 16 report. The Grayscale Bitcoin Trust (GBTC), which already commanded investments before its pivot to…

SEC postpones decision on Fidelity’s spot Ethereum ETF

The U.S. Securities and Exchange Commission (SEC) has delayed a decision on Fidelity’s application to launch spot Ethereum (ETH) ETFs. According to information on the regulator’s website dated Jan. 18, a decision on the application is now expected on March 5, 2024. “The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein.” SEC filing Bloomberg analyst James Seyffart called the move “expected.” At the same…

The SEC Goes Back to Court

Last summer, the U.S. Securities and Exchange Commission (SEC) sued crypto exchanges Coinbase and Binance, alleging they listed and traded unregistered securities in the form of various cryptocurrencies. This week, the regulator’s legal teams faced the exchanges in court as the companies argued the SEC did not make the case that those cryptos are securities. Source

SEC acknowledges Nasdaq’s spot Bitcoin ETF options request

boss

Options trading for spot Bitcoin ETFs may be up after a Securities and Exchange Commission nod allowed multiple “non-security commodity” funds to list on U.S. exchanges. Nasdaq submitted 19b-4 filings with the SEC to amend listing rules allowing trading derivatives on ETFs underpinned by Bitcoin (BTC). Following the proposed rule changes, the SEC has acknowledged the requests, opening a 21-day window for public comments and feedback. ETF expert James Seyffart opined that the SEC could field a decision on these filings by the end of February; however the verdict may…

Coinbase poised to win dismissal over SEC lawsuit

Litigation analyst Elliott Stein thinks Coinbase will win full dismissal of the SEC’s current lawsuit against the exchange. Stein also correctly predicted Grayscale’s landmark victory over the SEC last year, which set the motion for spot Bitcoin ETFs earlier this month. Coinbase’s argument, perceived as more persuasive, hinges on the investment needing to be in a business and not merely an ecosystem, and it should come with an enforceable obligation. The perspective gained traction following a precedent set by the Ripple case, where the sale of digital assets on public…

Peter Schiff Warns Impending SEC Regulations Could Tank Prices

boss

Prominent economist and vocal crypto skeptic Peter Schiff has once again stirred the pot with his latest prognosis on Bitcoin (BTC). Schiff, known for his critical stance on digital currencies, has raised eyebrows with his latest post, where he warns of impending regulatory changes that could trouble Bitcoin’s transaction costs and future price trajectory. Regulatory Changes On The Horizon Schiff’s warnings are anchored in his belief that the US Securities and Exchange Commission (SEC), under the leadership of Gary Gensler, is poised to introduce new, more stringent regulations for cryptocurrencies.…

Spot Bitcoin ETFs turned down by Thai SEC, investors eye global markets

boss

Thailand’s SEC has declined to allow trading of spot Bitcoin ETFs, citing that foreign-approved Bitcoin ETFs are still in nascent stages and may not align with the economic needs of the Thai market. The US securities market regulator’s recent approval of 11 Bitcoin exchange-traded funds (ETFs) has not swayed the Thai Securities and Exchange Commission to follow suit. The Thai regulator remains cautious, believing these ETFs, which have gained traction in foreign markets, may not be suitable for the Thai economic landscape at this stage. A report by Bangkok Post…

US Government Accountability Office offers SEC recommendations post-Bitcoin ETF approval

boss

A US watchdog notes that the SEC’s specialized unit for emerging technologies is not fully prepared to meet current challenges. On Dec. 15, the United States Government Accountability Office (GAO) proposed three primary action plans to the Securities and Exchange Commission to take in the wake of approving 11 spot Bitcoin exchange-traded funds (ETFs) on Jan. 10. The advised strategies were centered around managing the workforce for the digital asset market and guiding the regulator’s approach to the burgeoning industry in the upcoming years. The report found that despite having…