SEC delays resolution on Hashdex’s conversion of DEFI from a Bitcoin futures ETF to an ETF that holds both futures and spot
SEC has delayed making a decision on Hashdex's application to convert its DEFI from a Bitcoin futures ETF to an ETF that holds both futures and spot.
SEC: A total of nearly US$5 billion in fines will be imposed in fiscal year 2023, focusing on areas such as cryptocurrency
US SEC announced its enforcement results for the 2023 fiscal year on its official website. The report shows that the SEC initiated a total of 784 enforcement actions, an increase of 3% from 2022. The enforcement actions resulted in fines totaling $4.949 billion, second only to the $6.4 billion in 2022, making it the second-highest in history. The SEC stated that "the 2023 fiscal year was a productive year for enforcement work." The cases it focused on investigating involved cryptocurrency, cybersecurity, false statements by listed companies, and market manipulation, among other areas.
U.S. court issues protective order over disclosure of materials in SEC vs. Binance lawsuit
A US court has approved a protective order that will be responsible for managing the production, use, and disclosure of all information and materials provided by either party in the lawsuit brought by the US Securities and Exchange Commission (SEC) against Binance and its CEO CZ.
Analyst: Crypto regulations are unlikely to be relaxed despite SEC’s recent lawsuit loss
According to a report by Golden Finance, Morgan Stanley analysts warned investors last week that despite the recent losses of several court cases against cryptocurrency companies by the US SEC, cryptocurrency regulation in the US is unlikely to relax. Morgan Stanley analysts stated that due to the unregulated nature of the cryptocurrency industry, it is unclear whether regulatory tightening will significantly weaken the industry. We do not believe that US lawmakers will change their stance due to the aforementioned legal cases, especially with the memory of the FTX fraud case still fresh. US cryptocurrency regulations "remain uncertain".
Ripple CEO: U.S. SEC’s actions against crypto industry failed to protect investors
Ripple CEO Brad Garlinghouse said that the SEC's actions against the cryptocurrency industry have failed to protect investors and that its regulatory strategy needs to be reassessed. The industry needs a new customized regulatory framework that takes into account the subtle differences of digital assets.
U.S. SEC Said to Open Talks with Grayscale on Spot Bitcoin ETF Push
Representatives of the company are answering questions from two divisions of the U.S. Securities and Exchange Commission in the wake of Grayscale's court win over the agency.
BlackRock: SEC has no reason to treat cryptocurrency futures and spot ETFs differently
BlackRock argues that the US Securities and Exchange Commission has no legitimate reason to treat applications for physically-backed cryptocurrency exchange-traded funds (ETFs) differently from those for futures-based cryptocurrency ETFs. After submitting a 19b-4 application to the SEC on behalf of the company on Nasdaq, BlackRock's physically-backed Ethereum (ETH) ETF called "iShares Ethereum Trust" was officially approved on November 9th. In its application, BlackRock questions the SEC's treatment of physically-backed cryptocurrency ETFs, claiming that the agency's reasons for repeatedly rejecting these applications are incorrect regarding regulatory differences between futures-based and physically-backed ETFs.
Binance used ‘tortured’ interpretation of law in bid to toss suit, says SEC
The SEC derided Binance’s request to have the regulator’s suit thrown out, claiming the crypto exchange hasn’t correctly applied the law.
Analyst: If the SEC intends to approve 12 spot Bitcoin ETFs this year, the window period will end on November 17
According to Bloomberg ETF analyst James Seyffart's post on the X platform: "I have released a new study today. We still believe that there is a 90% chance of approval for the spot Bitcoin ETF application before January 10th. But if it is approved in advance, we will enter a window period during which all current applications may be approved."
SEC opposes Binance’s motion to dismiss money laundering trading charges
On November 8th, it was reported that the United States Securities and Exchange Commission (SEC) stated in legal documents that Binance and its CEO CZ operated a securities trading platform in the United States without being registered, violating Section 5 of the Securities Act. The SEC accused Binance of providing and selling BNB tokens to US investors through its employees, and inducing investors to purchase through encrypted cryptocurrency investment projects such as BUSD, which constitutes unregistered investment contract sales. The SEC requested that the court reject Binance's motion, maintain the securities legal system, and impose legal sanctions on the relevant responsible parties.
Previously, Binance US and its affiliated organizations requested that the District Court of Washington, D.C. reject the lawsuit filed by the United States Securities and Exchange Commission (SEC), stating that its accusations of money laundering transactions were "unsupported by facts". <br>In June, the SEC accused Binance US, which is affiliated with Binance Holdings Limited and BAM, of allowing Sigma Chain, a trading company owned by Binance CEO CZ, to conduct money laundering transactions.
