Grayscale recently submitted an updated filing for its pending spot Bitcoin ETF to the U.S. Securities and Exchange Commission (SEC) on Nov. 22. This article aims to analyze the new filing and its implications for the ETF prospect. The filing in question is an amended S-3 prospectus, which indicates that Grayscale has met other reporting
Regulation
The U.S. Securities and Exchange Commission (SEC) has recently taken legal action against the popular cryptocurrency exchange, Kraken. This regulatory body has accused Kraken of operating as an unregistered securities exchange, broker, dealer, and clearing agency. These serious allegations have raised concerns about the legality and compliance of Kraken’s operations. According to the SEC, Kraken
In the year 2023, there has been a significant increase in the focus on regulating digital assets. Governments and regulatory bodies around the world have recognized the importance of implementing legal frameworks to ensure the safety and integrity of the crypto market. However, despite these efforts, widespread adoption of digital assets is still a distant
In a recent filing with the Securities and Exchange Commission (SEC) on November 17th, Fidelity Investments, the third-largest asset manager globally, put forward a proposal for an Ethereum exchange-traded fund (ETF). This filing closely resembles Fidelity’s previous proposal for a Bitcoin ETF, highlighting the company’s interest in expanding its cryptocurrency offerings. Fidelity’s move comes shortly
In recent news, Bloomberg analyst Eric Balchunas reported on a significant development in the world of spot Bitcoin ETFs. It appears that securities regulators are instructing these applicants to handle funds in a specific way, favoring cash creates over in-kind creates. This new approach has the potential to impact the filings and timeline of several
In a letter addressed to the U.S. Treasury, American lawmakers have expressed their concerns about the proposed taxation scheme for digital assets, stating that it could hinder innovation and have a negative impact on the digital asset ecosystem. The lawmakers specifically refer to the taxation rules put forward by the Treasury on August 25, which
The U.S. House Subcommittee on Digital Assets, Financial Technology, and Inclusion recently convened a hearing titled “Crypto Crime in Context: Breaking Down Illicit Activity in Digital Assets.” The purpose of the hearing was to shed light on the nature and extent of criminal activities within the digital asset ecosystem. Experts in blockchain technology, financial regulation,
Crypto.com, a prominent cryptocurrency exchange, has recently obtained a Virtual Assets Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA). This license, granted to the exchange’s entity CRO DAX Middle East FZE, signifies a significant step towards offering regulated digital asset services in Dubai. However, there are still certain conditions set by
Ripple CEO Brad Garlinghouse expressed his dissatisfaction with the U.S. Securities and Exchange Commission’s (SEC) approach to the cryptocurrency industry, noting that it has failed in protecting investors. Speaking at the Ripple Swell conference in Dubai, Garlinghouse questioned the SEC’s focus, asking, “Who are they protecting in this journey?” He believes that the SEC’s enforcement
The European Parliament has recently voted in favor of the Data Act, a new legislation that aims to establish regulations in various areas, including the development of smart contracts. With 481 votes in favor, 31 against, and 71 abstaining votes, the act has made significant progress. However, it still needs to gain formal approval from