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In a recent conversation with Bloomberg, U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce emphasized that there’s “no reason for [the SEC] to stand in the way of a spot Bitcoin ETF.” Peirce also remained tight-lipped regarding the potential approval of a spot bitcoin exchange-traded fund (ETF). JUST IN: 🇺🇸 SEC Commissioner says "there's no reason for us to stand in the way of a Spot #Bitcoin ETF." pic.twitter.com/QARwdFRXUk — Watcher.Guru (@WatcherGuru) November 22, 2023 When asked about reported ongoing conversations between ETF issuers and SEC staff regarding spot bitcoin ETF applications, Commissioner Peirce responded, “No, again, I really can’t comment on that.” SEC’s Peirce notes that each Spot Bitcoin ETF application must be judged on its own merits Peirce noted that each application must be judged on its own merits, but said she didn’t see reasons for denying som...

The U.S. Securities and Exchange Commission (SEC) said that Binance’s attempts to dismiss the lawsuit against it are invalid. The regulator called the company’s arguments “ absurd .” In its response, the Commission also reiterated that most crypto assets are securities under the Howey test. According to the department, “comparing tokens and, for example, oranges [as a product] is absurd .” “Binance’s Chief Compliance Officer crudely but succinctly summed up this case when he admitted that Binance was ‘operating as a fking unlicensed securities exchange in the USA bro.’ He was right.” SEC filing Binance previously stated that the regulator was violating the Fundamental Issues Doctrine. This is the principle of interpretation of regulations in administrative matters. It introduces strict limits for executive authorities in the interpretation of certain laws. You might also like: Binance and Changpeng Zhao ask court to dismiss SEC suit The conflict ...

The US Securities and Exchange Commission (SEC) is expected to approve the creation of an Ethereum Futures ETF by October of this year. Indeed, there are currently almost 12 applications that have been submitted. Subsequently, a positive decision could arrive in just a few months.  Bloomberg reported that the decision would be imminent and would undoubtedly have a positive effect on the market. Specifically, the report noted that the regulator is expected to deny the applications of nearly a dozen companies. Among them are ProShares, Bitwise, and Valkyrie.  Source: CoinLive Also Read: Valkyrie Files for an Ether Futures ETF with SEC Ethereum Futures ETF Approval Expected by SEC The rise of exchange-traded funds in the digital asset space in the past few months has been a notable development. Spot Bitcoin ETF applications have seemingly run rampant among a host of companies. Among them are traditional finance entities as well as digital asset firms.  Now, the ...

The WSJ’s investigation reveals that Binance’s CEO Changpeng Zhao was aware of wash trading at the American branch launch and “directed” it. According to a report from the Wall Street Journal, in the first hour of Binance launching its American platform, BinanceUS, around $70,000 worth of Bitcoin (BTC) was exchanged. The media accessed the internal communication, where CEO Changpeng Zhao allegedly admitted the volume wasn’t all from external traders. “That was ourself, I think.”  Binance’s CEO Changpeng Zhao In addition to that, the WSJ report alleges that the global Binance exchange wash-traded about 46% of its total volume. What is wash trading This raises a larger question about actual trading volumes versus coin promoters shuffling assets, known as wash trading . Wash trading is a deceptive practice in the financial markets where an entity, typically a trader or a group of traders, artificially inflates trading volumes by repeatedly b...

In another positive development for the potential service, the US Securities and Exchange Commission (SEC) has acknowledged Valkyrie ’s Spot Bitcoin ETF application. Moreover, the decision arrives a few days after similar acknowledgments were issued for applications from BlackRock and Fidelity.  Bloomberg analyst Eric Balchunas reported Valkyrie’s application to be the latest to reach this important step. Subsequently, although this certainly will not be indicative of an impending acceptance or rejection, it is a notable moment in the overarching application process.  JUST IN: Valkyrie 's bitcoin ETF has just been ack by the SEC, that's the last one to file of the current crop and the only one with a ticker picked out: $BRRR https://t.co/aBWlo4ElOb — Eric Balchunas (@EricBalchunas) July 17, 2023 Also Read: BlackRock CEO Larry Fink Says Crypto Will Transcend International Currency Valkyrie Spot Bitcoin ETF Application Ackowneldged by SEC Over ...

Judge Sarah Netburn has order ed Ripple Labs and the United States Securities and Exchange Commission (SEC) to agree on three mutually convenient dates for a potential settlement conference days after she ruled that XRP is not a security. This order pertains to Judge Torres’s recent decision on the cross-motion for summary judgment. However, it is essential to clarify that the judge is simply suggesting a settlement conference if both Ripple and the SEC believe it would be productive at this time. You might also like: Lawyer: SEC has to appeal after ruling on XRP Judge Netburn’s order does not guarantee a settlement within the next 6-8 weeks. Instead, if the parties agree on a date, it must be scheduled well in advance due to the court’s calendar. To be clear: Judge Netburn is suggesting that both sides agree on some possible dates for a settlement meeting, *IF* "they believe it to be productive at this time." This doesn't mean we'll ...

The first increase in trading volume in months was driven by market volatility following the SEC's lawsuits against Binance and Coinbase, as well as improving sentiment via BlackRock's ETF filing. The combined spot and derivatives trading volume on centralized exchanges (CEXs) climbed 14.2% in June to $2.71 trillion, according to CCData's monthly exchange report. Binance, Binance.US, and Coinbase all saw their market share decline in the past month. As per the report, the first rise in trading volume in three months was backed by BlackRock's exchange-traded fund (ETF) filing and regulators' complaints against crypto exchanges Binance and Coinbase in the United States. Binance saw a surge in withdrawals following the Securities and Exchange Commission (SEC) lawsuit on June 5. As a result, its market share dropped the most among CEXs, by 1.40% to 41.6%, while Binance.US saw a marginal share decline of 0.86% to 0.36%. Coinbase's market share declined the least a...

Ripple CEO Brad Garlinghouse said the firm's XRP lawsuit could come to an end within "single-digit months." Ripple CEO Brad Garlinghouse expects the firm’s long-running dispute with the Securities Exchange Commission (SEC) will be finalized within “single-digit months” and remains confident in securing a favorable outcome. Speaking to CNBC on Jan. 18 at the World Economic Forum in Davos, Switzerland, Garlinghouse said the verdict could come as soon as June this year now that both parties have “fully filled and fully briefed” their arguments before the U.S. District Court: “We expect a decision from a judge certainly in 2023. You don’t really have control over when a judge makes their decisions. But I’m optimistic that sometime in the coming single digit months we’ll have closure there.” While Garlinghouse and investors believe the facts, law and the court will ultimately side with Ripple, the Ripple CEO also took the opportunity to ridicule the SEC’s “embarrassing” behav...