Bitcoin ETF Applications Flood SEC, Collaboration with Coinbase Boosts Approval Prospects
The SEC has received applications for Bitcoin ETFs from several companies, including Fidelity, VanEck, WisdomTree, Invesco, and BlackRock. This is a step forward in the process of approving ETFs, but it doesn't mean they will be approved. The SEC will now have 240 days to make decisions and the public can provide comments. The SEC has been cautious about approving BTC ETFs due to worries about price manipulation, but collaborations with Coinbase are addressing these concerns and increasing the chance of approval.
SEC argues approving S-1 application for IPO does not mean regulatory complianc
The SEC has stated in court that approving a company's S-1 application to go public does not mean that the agency endorses the business or confirms its regulatory compliance. The SEC trial counsel emphasized that the approval of an S-1 is not a blessing of the entire business, and there is no evidence that the SEC looked at specific assets and made specific determinations. The comments have raised questions about why the SEC would allow a non-compliant business to go public and allow Americans to invest in it. Coinbase is currently facing a case brought by the SEC for alleged unregistered securities offerings dating back to 2019.
50-50 Chance of SEC Approval for Bitcoin ETFs, Despite Regulatory Crackdown
Despite recent regulatory crackdowns, major asset managers including BlackRock, Fidelity, and Invesco are still applying to list spot Bitcoin exchange-traded funds (ETFs). The race to launch an ETF is being led by Cathie Wood's ARK Invest and 21Shares, with a final deadline for approval set for January 10, 2024. Bloomberg Intelligence analysts estimate a 50-50 chance of approval for a spot Bitcoin ETF, with BlackRock's ETF application already causing a 22% increase in Bitcoin's spot price since its filing on June 16. Experts are optimistic about the SEC finally approving a spot Bitcoin ETF, with key safeguards in place to meet the SEC's requirements.
Bitstamp Resumes XRP Trading for US Customers
Cryptocurrency exchange Bitstamp announced on July 13 that it has resumed XRP trading for its US customers. Bitstamp was one of the earliest exchanges to list XRP and is a leading liquidity provider for the asset globally. XRP is one of the most favored digital assets among Bitstamp's customers, after BTC and ETH.
Cryptocurrency Exchanges Reopen XRP Trading After Mixed Ruling in Ripple Legal Battle
Several cryptocurrency exchanges, including Crypto.com and Kraken Pro, have resumed trading in XRP following a mixed ruling from a US federal judge in the ongoing legal battle between Ripple and the Securities and Exchange Commission (SEC). The decision has been celebrated as a victory for the sector, but uncertainty remains as the case could still go to trial or be appealed.
Ripple's Victory Against SEC Seen as Blow to "War on Crypto," But Lawyers Warn of Caution
Ripple Labs' recent court victory against the SEC has been seen as a setback for the regulator's "war on crypto," but lawyers caution that it is not a definitive win for the industry or the company. The ruling determined that XRP is not a security when sold to the general public, leading to a surge in the token's price and optimism for crypto exchanges Coinbase and Binance in their respective lawsuits.
Bitcoin Breaks US$31,000 Resistance Level Following Ripple’s Partial Victory Against SEC
Bitcoin surged past the $31,000 resistance level on Friday after Ripple Labs won a partial victory in its three-year legal battle against the US Securities and Exchange Commission (SEC). The SEC had accused Ripple of offering XRP as an unregistered security. Other top 10 non-stablecoin cryptocurrencies, including Ether, also saw significant gains.
SEC Responds to Ripple Ruling, Pleased with Court's Findings on XRP Tokens as Investment Contracts
The U.S. Securities and Exchange Commission (SEC) has responded to the recent Ripple ruling, stating that it is pleased with the court's findings that XRP tokens were offered and sold by Ripple as investment contracts in violation of securities laws in certain circumstances.
XRP Victory Signals Relief in Crypto, Perfect Storm Brewing for Cryptocurrency Prices to Surge
Cryptocurrency prices are on the rise again, with Bitcoin nearing $32,000 per coin and XRP experiencing a 100% intraday rally. This sudden change could be part of a perfect storm brewing in the crypto market, leading to a dramatic recovery and new all-time highs.
Ripple (XRP) Becomes Fourth Largest Cryptocurrency After SEC Partial Victory
Following Ripple Labs' partial victory over the SEC on July 13, Ripple (XRP) has become the fourth largest cryptocurrency by market capitalization. XRP's market cap surged by $21.2 billion to reach a new yearly high of $46.1 billion, pushing it up from the 7th position.
