SEC Considers Safe Harbor for NFTs DeFi
@a16z and DeFi Education Fund urge the SEC to establish a safe harbor for NFT and DeFi apps, aiming to exempt them from broker-dealer registration requirements. #Update #Crypto $ETH
Regulatory & Legal
Includes news and discussions about regulatory measures, legal challenges, and the legal environment affecting cryptocurrencies.
XRP Surges to $3 as SEC Case Nears Dismissal
XRP surged past $3 amid speculation that the SEC may dismiss its appeal against Ripple Labs before the August 15 deadline, potentially concluding a nearly five-year legal battle. #Update #Crypto $XRP
SEC Liquid-Staking Guidance Sparks Regulatory Controversy
The SEC’s recent comments on liquid staking raise optimism and concern, noting it isn’t a securities offering, but leaves taxation and regulatory clarity unresolved. #Update #Crypto $SOL
Bitcoin Regulation Finalized by EU Banking Authority
The European Banking Authority finalizes rules requiring EU banks to hold more capital against unbacked cryptocurrencies like $BTC and $ETH, potentially limiting their participation in the digital asset market. #Update #Crypto $BTC $ETH
SEC Settles $10M Claim Against Crypto Exec
@HuynhTranQuangDuy to pay $10.5M to settle SEC claims for misusing $11.9M in investor funds to buy TerraUSD, leading to MyConstant’s collapse and significant losses for customers. #Breaking #Legal $UST
SEC Declares Liquid Staking Activities Non-Securities
The US SEC clarified that certain liquid staking activities do not constitute securities offerings, aiding institutional interest in liquid staking ETFs amid a growing $67 billion market. #Update #Crypto $SOL
CFTC Approves Spot Crypto Trading Exchanges
The US Commodity Futures Trading Commission (CFTC) is seeking public input on enabling spot crypto asset contracts on registered exchanges, part of its “crypto sprint” initiative. Comments are due by August 18. #Update #Crypto
SEC Veteran Joins Veda as General Counsel
@Veda has appointed former SEC official TuongVy Le as general counsel to enhance its DeFi offerings for institutional investors, following a recent $18M funding round. #Update #Crypto $BTC
SEC Delays Bitwise Crypto ETF Redemption
The SEC extended its deadline for ruling on in-kind redemptions for Bitwise’s Bitcoin and Ether ETFs, allowing more time for consideration of the proposed rule change. #Update #Crypto $BTC $ETH
DeFi Legal Future Requires Programmable Regulation
Decentralized finance (DeFi) faces regulatory challenges as lawmakers struggle to define decentralized autonomous organizations (DAOs), slowing innovation. Global efforts like the EU’s MiCA aim for unified regulation, yet enforcement gaps persist. #Update #Crypto $USDT
SEC Approves Grayscale’s Confidential IPO Filing
@Grayscale has submitted a confidential IPO filing with the SEC, potentially allowing for new funding avenues like stock or convertible note offerings. #Update #Crypto
SEC Receives Grayscale’s Confidential IPO Filing
@Grayscale has filed confidentially with the SEC to list its shares, aiming for a public offering amid a rising trend of crypto IPOs following Circle’s successful $1.05 billion IPO. #Update #Crypto $USDC
NFT Lawsuit Against Dolce & Gabbana Cleared
@DolceGabbana USA has been cleared of a proposed class-action lawsuit regarding its parent company’s alleged abandonment of the “DGFamily” NFT project, dismissing claims of misconduct. #Update #Legal
BlockFi Dismisses $35M Lawsuit with DOJ
@BlockFi and the US Department of Justice have settled a $35 million lawsuit regarding crypto asset transfers, with the case dismissed with prejudice. Each party will cover its own legal fees. #Update #Legal