Seven leading AI development firms have voluntarily agreed to comply with best practices to ensure the safety, security, and trustworthiness of AI technology, as announced at the White House. The Federal Reserve has also raised concerns about the potential risks posed by quantum computers and AI to the US financial system. Additionally, a disagreement among judges has arisen in the ruling of an SEC enforcement action, and the SEC has proposed rules for digital engagement practices and "robo-adviser" registration. The Depository Trust & Clearing Corporation (DTCC) has announced the wind down of its Global Markets Entity Identifier business, and the enforcement of the California Privacy Rights Act of 2020 has been delayed until March 2024. Finally, Texas has implemented comprehensive privacy legislation through the Texas Data Privacy and Securities Act.
Crypto traders are eagerly awaiting a ruling on the Grayscale Trust vs SEC case, which may require the SEC to re-review the application for a spot Bitcoin ETF, potentially leading to a 240-day delay.
The US Court of Appeals has once again delayed its decision on whether Grayscale can convert its Bitcoin Trust into a spot Bitcoin exchange-traded fund (ETF), causing uncertainty and leaving investors waiting for clarity.
The U.S. Securities and Exchange Commission (SEC) has implemented new rules aimed at increasing transparency and accountability in the private equity and hedge fund industry, requiring the issuance of quarterly fee and performance reports, disclosure of fee structures, and annual audits, while banning preferential treatment for certain investors.
Attorney John Deaton addressed the importance of accountability within regulatory bodies, emphasizing the need to hold both current and previous figures responsible, such as Gary Gensler and Jay Clayton, to maintain fairness and consistency in regulatory actions, particularly in relation to the "Safe Harbor" proposal for cryptocurrencies. Deaton also discussed the complexities of the Ripple legal case and the potential influence it may have on the SEC's approach to other cryptocurrencies, highlighting the urgency of regulatory clarity in order to prevent financial harm in the industry.
The U.S. District of Columbia Court of Appeals will soon rule on whether the SEC wrongly rejected Grayscale Investments' application to list a bitcoin exchange-traded fund, which could impact the approval of other bitcoin ETFs.
The U.S. Court of Appeals has criticized the Securities and Exchange Commission (SEC) for acting "capriciously" and "arbitrarily" in denying a spot market bitcoin exchange-traded fund (ETF), potentially leading to a review of the previously rejected application and challenging the SEC's authority over cryptocurrencies.
The SEC is facing deadlines to decide on seven new Bitcoin spot ETF applications, with analysts stating that the best-case scenario is approval, but the SEC may also exercise its right to appeal.
Bitcoin prices surged 7% after a federal appeals court ordered the US Securities and Exchange Commission to reconsider its rejection of the Grayscale Bitcoin Trust's bid to convert into an exchange-traded fund (ETF), potentially opening the door for a spot Bitcoin ETF in the US; however, some remain cautious about the optimism surrounding the decision.
Bitcoin led the cryptocurrency market higher following Grayscale's victory in the lawsuit against the SEC, but analysts caution that the victory does not guarantee the approval of a spot Bitcoin ETF.
Grayscale CEO Michael Sonnenshein celebrates the court victory over the SEC and anticipates converting Grayscale Bitcoin Trust into a Bitcoin ETF, potentially boosting crypto markets with billions in liquidity.
A federal appeals court ruling has opened the door for the launch of a spot Bitcoin exchange-traded fund (ETF), with a number of high-profile asset managers potentially being approved to enter the market, leading to increased competition and potential fee reduction for fund managers.
The U.S. Securities and Exchange Commission (SEC) has delayed its decision on spot bitcoin ETF applications until October, causing a 4.1% drop in bitcoin's value.
The U.S. SEC has delayed a decision on all spot bitcoin ETF applications, causing Bitcoin and major tokens to lose weekly gains, while a New York court classified bitcoin and ether as commodities, dismissing a proposed class-action lawsuit against Uniswap.
Former SEC chair Jay Clayton believes that the approval of spot Bitcoin exchange-traded funds (ETFs) is inevitable, as major financial institutions backing BTC investment vehicles represent a shift in how retail investors can access crypto. The SEC has 45 days to approve, deny, or delay ETF applications from 7 major firms.
SEC chief Gary Gensler has waged war against the cryptocurrency industry, evolving from an optimistic view to becoming more hardline and filing lawsuits against platforms like FTX, Binance, and Ripple. Despite recent legal setbacks, Gensler remains determined to regulate the sector.
The SEC's denial of Grayscale's spot Bitcoin ETF application has been reviewed by a judge due to the SEC's failure to provide a coherent explanation, while the SEC also delayed verdicts on several Bitcoin spot market ETF applications, including BlackRock's, causing prices to rally; in other news, Circle's USDC stablecoin has experienced a significant decrease in market cap, SEC Commissioner Hester Peirce criticized the SEC's attempt to bring crypto exchanges under its jurisdiction, a lawsuit against Uniswap was dismissed by a New York judge, StarkWare zeroed all user balances on old wallets, Vivek Ramaswamy celebrated Grayscale's win over the SEC, the SEC delayed its verdict on multiple ETF applications including BlackRock's, and Chinese courts considered cryptocurrencies legal property protected by law.
The recent court ruling regarding Grayscale Investments has brought the U.S. a step closer to having its first bitcoin exchange traded fund, leading to excitement and speculation in the cryptocurrency industry.
United States Representative Tom Emmer has sponsored an appropriations amendment to limit the SEC's use of funds for digital asset enforcement until comprehensive regulations are in place, citing concerns about the misuse of taxpayer funds by SEC Chair Gary Gensler. Emmer has previously introduced bills to enhance regulatory transparency in the cryptocurrency industry.
The lack of clear crypto regulations in the US has caused significant issues for the industry, leading to collapses and a weakening of America's position as a financial hub, according to Coinbase CEO Brian Armstrong. He emphasizes the need for clear rules that recognize the innovation potential of the technology while protecting consumers. Armstrong also highlights the potential benefits of Bitcoin exchange-traded funds (ETFs) and Coinbase's role as custodian in many ETF applications.
U.S. Securities and Exchange Commission Chair Gary Gensler continues to emphasize the importance of crypto companies complying with securities laws, despite recent setbacks in court cases against the industry. Gensler will discuss recent enforcement actions and proposals related to cryptocurrency firms but will avoid discussing ongoing litigation, including high-profile cases against Coinbase and Binance.
The market is underestimating the potential impact and value of Spot Bitcoin ETFs, with analysts arguing that approval would lead to significant financial inflows and buying pressure, and that it is a good time to enter the market and start building a crypto portfolio, despite regulatory challenges. Ethereum could also benefit from a futures-based ETF listing, but there is caution about the SEC potentially classifying ETH as a security. Overall, the global crypto adoption is dependent on market maturity, regulatory intervention, and consistent long-term adoption.
U.S. SEC Chair Gary Gensler criticized the crypto industry during a Senate hearing but did not provide any information on the regulator's stance on Bitcoin spot ETF applications, which are currently under review.
A court victory for Grayscale Bitcoin Trust may lead to its transformation into an exchange-traded fund, potentially providing a profitable opportunity for investors. However, the approval of the US Securities and Exchange Commission (SEC) remains uncertain, despite a recent favorable ruling.
Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), is facing criticism for his alleged corrupt practices and his crackdown on cryptocurrencies, with some accusing him of selectively targeting companies and undermining justice and market integrity.
The Federal Reserve's decision to maintain interest rates and raise its long-term forecast for the Federal Funds Rate surprised many market participants, causing a slight pullback in the stock and cryptocurrency markets while highlighting the need for investors to focus on the actual health and viability of companies and the utility of the crypto ecosystem. Additionally, the article speculates on the impact of the U.S. Securities and Exchange Commission's ruling on Bitcoin spot ETF applications and the potential for cryptocurrency to become a mainstream alternative investment.
