Former SEC attorney, John Reed Stark, believes that the chances of the SEC approving a Bitcoin spot ETF are slim due to the lack of regulatory oversight and transparency in the crypto market, citing a CNBC report that shows the industry is rigged and susceptible to manipulation.
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 Chairman of the House Financial Services Committee, Patrick McHenry, criticized the Biden Administration's proposed crypto tax regulations, claiming that they aim to "kill" the digital asset industry in the U.S. and urged for clearer rules.
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.
US Congressman Warren Davidson is urging the SEC to fire its chair Gary Gensler due to his controversial actions against cryptocurrency and his inconsistent treatment of similar products, which could potentially hinder digital asset development in the US.
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.
The Securities and Exchange Commission (SEC) may have suffered setbacks in its regulation-by-enforcement approach to the cryptocurrency industry, with the latest ruling in favor of Grayscale Investments potentially paving the way for the emergence of a bitcoin spot exchange-traded fund (ETF); however, the SEC could appeal the decision or find new ways to deny similar applications, and the lack of a regulated exchange for the bitcoin spot market remains a challenge. Despite court challenges, SEC Chair Gary Gensler is expected to continue pursuing his regulation tactics, while Congress and a potential Republican president in 2024 may play a role in shaping the regulatory environment for digital assets.
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.
Sen. Bill Hagerty accuses SEC Chair Gary Gensler of stifling crypto innovation and calls for more hearings to examine the SEC's actions in the crypto sector.
Ripple's chief legal officer criticizes the SEC's latest submission as a "contradictory shift" and highlights SEC Chair Gary Gensler's inconsistency and appetite for expanded regulation.
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.
Senator Sherrod Brown has expressed a negative view of the crypto industry, stating that it is rife with fraud and abuse, making his support crucial for any future crypto legislation in the US. Securities and Exchange Commission Chair Gary Gensler has also criticized the sector, but Brown's stance is seen as pivotal for the industry's regulatory framework.
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.
Ripple CEO Brad Garlinghouse criticizes SEC Chair Gary Gensler, accusing him of pursuing power and politics instead of sound policy, while XRP price remains strong despite being delisted from NYDFS' approved tokens list.
Experts suggest that the crypto industry's most urgent needs, such as SEC decisions on ETF applications and progress in court cases, won't be entirely derailed by a potential government shutdown, although there may be temporary slowdowns and a halt to SEC enforcement against crypto firms. Federal courtrooms are expected to operate normally for a few weeks, and criminal trials will continue, but the progress of cryptocurrency legislation in Congress may be stalled. If the shutdown persists, it may have significant repercussions as unpaid employees leave and government offices exhaust their funds.
A bipartisan group of lawmakers is urging the U.S. Securities and Exchange Commission (SEC) to approve bitcoin exchange traded funds (ETFs), arguing that the SEC should follow court rulings and cease efforts to block regulatory approval.
Four members of the United States Congress are urging SEC Chair Gary Gensler to approve the listing of spot Bitcoin exchange-traded funds (ETFs) immediately, claiming that the SEC is discriminating against such products despite legal precedent. They argue that spot BTC ETFs would provide increased investor protection and transparency.
SEC Chair Gary Gensler will address the U.S. Financial Services Committee about the Securities and Exchange Commission's focus on AI, predictive data analytics, and the cryptocurrency sector, emphasizing the need for updated rules and protections for investors and issuers in the crypto space.
SEC Chair Gary Gensler is facing increasing backlash from the financial services industry as they adopt a more confrontational stance, with some industry members suing him over his rulemaking proposals.
Republican lawmaker Rep. Andy Barr accused SEC Chair Gary Gensler of "kneecapping" U.S. capital markets with excessive regulatory proposals during a House Financial Services Committee hearing, criticizing rules related to data analytics, artificial intelligence, and climate disclosure.
SEC Chairman Gary Gensler faced criticism during a House Financial Services Committee hearing regarding the SEC's policies and actions, including the issuance of Staff Accounting Bulletin (SAB) 121 on accounting and disclosure of crypto assets, without consulting prudential regulators or the Financial Accounting Standards Board (FASB). The bulletin, which requires disclosure of risks associated with digital asset custody, has faced opposition and accusations of being "regulation disguised as staff guidance." Issues such as the approval of spot Bitcoin exchange-traded funds and the SEC's stance on Grayscale's Bitcoin ETF application were also discussed.
SEC Chair Gary Gensler faces criticism from lawmakers, including accusations of kneecapping capital markets and calls for his firing, during a congressional hearing on market oversight, while also dodging questions about Bitcoin and Pokemon cards.
The House Financial Services Committee's hearing on the oversight of the Securities and Exchange Commission (SEC) revealed ongoing debates over the regulatory status of Bitcoin and Ether, with SEC Chair Gary Gensler providing ambiguous answers and raising questions about the need for congressional action for establishing regulatory clarity in the digital asset market.
The article argues that the SEC and Chairman Gensler's attempts to regulate digital assets are misguided and lack understanding of their potential, and advocates for Congress to prevent these overbearing regulations in order to allow the industry to thrive and contribute to the global economy.
The U.S. Securities and Exchange Commission (SEC) reportedly has no plans to appeal a court decision in favor of Grayscale Investments, requiring the SEC to review the firm's spot Bitcoin exchange-traded fund (ETF) application, although this does not necessarily mean the application will be approved.
The SEC does not plan to appeal a court ruling, increasing the likelihood of Grayscale being cleared to launch a Bitcoin ETF, but approval is not guaranteed.
Crypto prices experienced a slight decline due to global unrest and inflation concerns, with Bitcoin dropping 3.7% and Ethereum falling 5.4%, while other altcoins saw even bigger losses, including Polygon and Polkadot. Adoption news and regulatory developments were scarce, but there are predictions that the SEC may soon approve a Bitcoin spot ETF following a recent ruling. Tether also appointed its Chief Technology Officer as CEO.
The US Oversight and Accountability Committee is frustrated with SEC Chair Gary Gensler for not disclosing documents related to the SEC's involvement in European social engineering initiatives, amid growing concerns over his cautious stance towards cryptocurrencies and his intensified regulatory scrutiny of the industry. Meanwhile, the macroeconomic landscape is focused on relaxing financial conditions, potentially leading to significant developments in the cryptocurrency market, particularly for altcoins like Chainlink, Polygon, Cardano, Ripple, and Polkadot.
The U.S. Securities and Exchange Commission (SEC) will not appeal a court ruling that directs it to reconsider Grayscale's application to launch a Bitcoin ETF, potentially opening the door for such products to be approved and allowing investors to gain exposure to Bitcoin without owning it directly.
ARK Invest CEO Cathie Wood believes that the Chair of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, is blocking a spot market Bitcoin exchange-traded fund (ETF) despite the agency's knowledge and understanding of Bitcoin. Wood suggests that multiple spot Bitcoin ETFs may be approved in the future.
The U.S. Securities and Exchange Commission (SEC) has run out of time to appeal a court ruling that criticized its biased decision in approving a futures-based ETF while denying a similar spot market-based ETF, making the likelihood of a spot market bitcoin ETF listing by the end of the year almost certain, which would have significant implications for the crypto industry and potentially raise bitcoin's price.
Bitcoin experienced a brief rally after news of the SEC approving a Bitcoin ETF turned out to be fake, revealing that price gains expected from an ETF approval were not already accounted for, while social media speculation continues regarding when the SEC will finally approve a Bitcoin ETF and New York's attorney general's lawsuit against Genesis raises questions about its subsidiary, Grayscale's chances of landing a Bitcoin ETF.
The D.C. Circuit Court of Appeals has ruled that the U.S. Securities and Exchange Commission (SEC) must reverse its rejection of Grayscale's spot bitcoin ETF application, bringing the case to a close and giving the SEC the opportunity to approve or reject the application based on other grounds.
SEC Chair Gary Gensler announced that the regulatory body took 780 enforcement actions, resulting in $5 billion in judgments and orders, with $930 million distributed to harmed investors, and made critical remarks about the cryptocurrency market's noncompliance during his speech at the 2023 Securities Enforcement Forum.
