XRP Lawsuit Verdict Expected to Bring Clarity to Crypto Market
July 1 (Cointime) - The global crypto industry is eagerly awaiting a Summary Judgment in the ongoing lawsuit between the U.S. Securities and Exchange Commission (SEC) and Ripple over the nature of XRP tokens.
US Supreme Court to Examine Legality of SEC's In-House Enforcement Proceedings Against Crypto Industry
July 1 (Cointime) - The U.S. Securities and Exchange Commission (SEC) is facing accusations of enforcing legal challenges against the crypto industry without clear rules.
Bitcoin Holds Above $30,000 as Fidelity Submits Spot ETF Application and Binance Faces Euro Banking Partner Troubles
June 30 (Cointime) - Bitcoin experienced a 2.36% increase from June 23 to June 30, reaching US$30,802 at 7:30 p.m. Friday in Hong Kong, while Ether rose by 0.55% to US$1,890 over the week. Fidelity submitted its spot Bitcoin ETF application, indicating a growing interest in cryptocurrencies among institutional investors. Binance faced issues in Europe and had to change its euro banking partner after Paysafe Payment Solutions stopped offering euro payment support for the exchange.
Prometheum's ATS Listing Plans Raise Regulatory Questions for Digital Asset Securities
June 30 (Cointime) - During a House of Representatives hearing, Aaron Kaplan, co-CEO of Prometheum Inc., praised the SEC as the most capable financial markets regulatory agency in the world, causing controversy within the industry.
Crypto Firm Prometheum Draws Criticism Over Plan To Handle Trading of Registered or Exempted Crypto Securities
June 30 (Cointime) - During a House of Representatives hearing on the future of the crypto industry, Aaron Kaplan, co-CEO of Prometheum Inc., commended the SEC as the most competent financial markets regulatory agency globally. Kaplan believes that no new crypto regulations are necessary and that his company will demonstrate this, despite criticism from the industry. Prometheum is a little-known startup that has registered with the SEC as a special purpose broker-dealer for digital assets and an alternative trading system.
The Potential Impact of a Spot Bitcoin ETF Approval on BTC Price and Grayscale's GBTC Trust
June 30 (Cointime) - The approval of a Bitcoin ETF based on spot prices would allow easier access for individual investors and mutual funds to actually buy BTC. However, the SEC has rejected all Bitcoin ETF applications due to concerns about transparency and surveillance-sharing agreements. Grayscale's Bitcoin Trust (GBTC) currently trades at a discount to its Bitcoin holdings, which is likely due to the lack of arbitrage tools.
Growing Demands for Accountability at SEC Amid Allegations of Prejudgment and Favoritism
June 30 (Cointime) - Industry insiders are calling for increased accountability at the SEC, with concerns raised about potential conflicts of interest among the regulator's leadership. Ripple Labs' chief legal counsel, Stuart Alderoty, has emphasized the legal consequences of Chairman Gary Gensler's statements, responding to allegations of prejudgment and conflict of interest made by Blockchain Association Policy Lead Jake Chervinsky.
SEC to Respond to Coinbase's Legal Defense on July 13
June 30 (Cointime) - The SEC will present its response to Coinbase's legal defense on July 13, which is earlier than expected due to Coinbase's "creative" defense tactic of filing its response 40 days early. The SEC asked for a three-day extension due to the July 4 holiday weekend, which was granted by the court. The court also converted the pre-trial conference to a pre-motion conference and pushed it forward to July 13. Coinbase argues that many of the tokens highlighted in the SEC's case fall outside the Commission's purview and its tactic to advance the case via a motion for judgment on the pleadings is seen as a "creative strategy."
US House Committee Chairs Demand Satisfactory Response From SEC on Recordkeeping Requirements
June 29 (Cointime) - The chairs of three committees in the United States House of Representatives have written to the SEC demanding a more satisfactory response to their November 1 letter regarding the SEC chairman's and the agency's compliance with recordkeeping requirements.
Fidelity refiles paperwork for Wise Bitcoin Trust spot ETF
June 29 (Cointime) - Fidelity has resubmitted paperwork for its Wise Bitcoin Trust, a spot bitcoin ETF, following similar filings from BlackRock's iShares unit, Invesco, and WisdomTree.
