Grayscale CEO, Michael Sonnenshein, recently provided an update on the company’s proposed spot Bitcoin ETF. Despite Grayscale’s intentions to convert its existing Grayscale BTC (GBTC) fund into an ETF, there are significant obstacles to overcome. This article delves into the current interactions with regulators, the company’s operational readiness, and the potential timeline for approval. Grayscale’s
Regulation
The U.S. Federal Reserve’s Vice Chair for Supervision, Michael Barr, recently addressed the topic of stablecoins and central bank digital currencies (CBDCs). In his remarks, Barr emphasized the importance of robust regulation for stablecoins and the need for congressional involvement in establishing regulatory frameworks. He also shed light on the Federal Reserve’s stance on CBDCs,
The U.S. Securities and Exchange Commission (SEC) is currently grappling with a major issue in recruiting cryptocurrency experts, which can be partly attributed to its own policies. In a recent document titled “The Inspector General’s Statement on the SEC’s Management and Performance Challenges,” it was revealed that the agency is facing difficulties in hiring specialists
The U.S. Department of the Treasury and its Office of Foreign Assets Control (OFAC) have imposed sanctions on a Russian businesswoman, Ekaterina Zhdanova, for her involvement in money laundering and illicit fund movements facilitated by virtual currencies. These sanctions shed light on the increasing use of cryptocurrencies in cross-border transactions and their potential risks in
Ripple, a leading blockchain technology company, has announced that its XRP token has been approved under the Dubai Financial Services Authority’s (DFSA) virtual assets regime. This approval allows virtual asset firms operating within the Dubai International Financial Centre (DIFC) area to utilize XRP. The DIFC is a special economic zone and financial hub in Dubai,
Turkey is taking steps to tighten its regulations on crypto-assets as part of its efforts to combat money laundering and terrorist financing. Finance Minister Mehmet Simsek announced that the country plans to introduce new legislation to address the issue and improve its standing against financial malpractices. This move is also aimed at persuading the Financial
The Financial Conduct Authority (FCA) in the UK has recently issued a warning to potential investors about Bitfinex, a renowned cryptocurrency exchange. The FCA alleges that Bitfinex may be promoting financial services or products without obtaining the necessary authorization from the regulator. As a result, the FCA has advised individuals to refrain from engaging with
The U.K. Treasury has recently announced its finalized regulatory approach to the crypto industry. The regulations will be implemented in multiple phases, with the aim of ensuring the stability and security of the industry. This article will analyze the key aspects of the new regulatory framework and its potential impact on the crypto industry in
Taiwan has recognized the need to regulate its thriving virtual asset market and has recently introduced the “Virtual Asset Management Regulations Draft.” This new bill aims to establish a comprehensive regulatory framework for the crypto industry in Taiwan. As virtual assets continue to gain popularity and see exponential growth in the country, it is crucial
The recent case between the U.S. Securities and Exchange Commission (SEC) and LBRY Inc. has seen Hester Peirce, a commissioner for the SEC, dissent from the agency’s actions. LBRY Inc., the firm behind the LBRY blockchain and content-sharing network, made the decision not to appeal its loss in the case and instead will shut down