Breaking: Binance Brings Back Zero-Fee Trading For Bitcoin, SHIB, PEPE, Other Crypto
Binance, the world's largest crypto exchange, has announced that it will offer zero-fee trading on its Auto-Invest platform for a limited period from May 18 to June 18, 2023. This move comes as Binance faces increased regulatory scrutiny and competition in the crypto market.
Ripple CEO Criticizes US for Confusing Crypto Regulations, Highlights Europe's Potential
Ripple CEO Brad Garlinghouse has criticized the United States for its confusing crypto regulations, which are causing many cryptocurrency companies to leave the country. Garlinghouse blames the U.S. Securities and Exchange Commission (SEC) for the lack of clear guidance on cryptocurrency regulation, making it difficult for companies to conduct business in the United States.
Leaked Memo Reveals Democratic Party's Plans for Crypto Crackdown in the US
A leaked memo has revealed the Democratic Party's plans for a potential crackdown on cryptocurrencies in the United States. The memo suggests that almost all cryptocurrencies could be categorized as securities, subjecting them to stricter regulations and oversight from regulatory agencies such as the US Securities and Exchange Commission (SEC).
SEC Warns Grayscale About Filecoin Trust's Status as Securities
The SEC has issued a warning to Grayscale regarding Filecoin (FIL), stating that these tokens qualify as securities. Grayscale was asked to retract the Form 10 request submitted for the Filecoin Trust, which would have made it an entity reporting quarterly results. The SEC has asked the company to instead register as an investment vehicle in accordance with the Investment Company Act of 1940. Grayscale has decided to fight the SEC's decision, but if it cannot convince the regulatory entity, it will comply. The news of the regulatory action targeting FIL briefly sent the token's price downward, but it has since rebounded.
Coinbase Countdown Sparks Crypto Twitter Rumor Mill
Coinbase has posted a mysterious countdown timer on Twitter, leading to speculation in the crypto community about what it could mean. Theories range from a listing of the popular meme token PEPE to an announcement about Coinbase One, a subscription-based service. However, there is no substantial evidence to support these theories. Coinbase has previously made announcements that were underwhelming, such as the Base protocol, and is currently embroiled in a battle with the SEC. The countdown has generated much discussion on Twitter, but the crypto community will have to wait a few days to know for sure what it refers to.
Expect Infamous Hinman Speech Documents to be Released by June 6, Says Defense Lawyer and Former Federal Prosecutor
James K. Filan, a defense lawyer and former federal prosecutor, predicts that the Hinman Speech documents will be made public by June 6, based on a previous court order. These documents relate to a 2018 speech by former Securities and Exchange Commission (SEC) corporation finance division director Bill Hinman, in which he stated that Ether (ETH) was not a security. Filan provided an update on the timeline for the release of the documents in a Twitter thread on May 17. However, some believe that the timeline could be affected if the SEC files an appeal or if the case is settled. Ripple Labs, which already has access to the documents, sees them as an important piece of evidence in its defense against the SEC's assertion that XRP is a security.
Grayscale Asked by SEC To Withdraw Registration for Filecoin Trust Over Security Concerns
Grayscale has been asked by the U.S. Securities and Exchange Commission (SEC) to withdraw the registration statement for its Filecoin Trust as the SEC believes that Filecoin's FIL token is a security under relevant laws. Grayscale has argued that the token is not a security and intends to respond to the SEC. However, it is uncertain whether the SEC will agree with Grayscale's argument or take action against Filecoin or any of Grayscale's other cryptocurrency trusts. The news briefly caused a 3% drop in Filecoin's value, but it has since recovered.
SEC Labels Filecoin's FIL Token as a Security, Grayscale's Trust Application Withdrawn
The U.S. Securities and Exchange Commission has reportedly classified Filecoin's FIL token as a security. Grayscale Investments had sought to launch a Filecoin Trust product that would provide investors with indirect exposure to FIL. However, the SEC has informed Grayscale that the application must be withdrawn as FIL is considered a security. This is a developing story and updates will be provided.
Celebrity Endorsement of Crypto Projects Linked to Higher Likelihood of Scams, New Research Shows
New research conducted by former SEC economists Joshua T. White and Sean Wilkoff has found a link between celebrity endorsement of cryptocurrency projects and the likelihood of them being fraudulent. The study examined the behaviour of 21 celebrities from 2016 to 2018, including Floyd Mayweather, Snoop Dogg, Paris Hilton, and Lionel Messi.
Judge Denies SEC's Attempt to Seal Records Related to William Hinman's Speech on Ethereum and XRP Lawsuit
The U.S. Securities and Exchange Commission's (SEC) attempt to keep internal documents related to William Hinman's speech sealed has been denied by Judge Analisa Torres. The SEC argued that the documents should be sealed due to their lack of relevance to summary judgment motions and the potential for prejudice against the financial regulator.
