The SEC’s final comments on spot Ethereum-ETF applications from @BlackRock and Fidelity are eagerly awaited. Approval could boost institutional investment in Ethereum, adding legitimacy to the crypto market and paving the way for more crypto-based financial products. #Ethereum #Update
The U.S. SEC has eased crypto reporting rules for banks and brokerages, allowing them to exclude customers’ crypto holdings from balance sheets if they manage associated risks. This move aims to lower entry barriers and enhance market stability. #CryptoRegulation
The Digital Chamber of Commerce supports LEJILEX and the Crypto Freedom Alliance of Texas in a lawsuit against the SEC. They argue the SEC is overstepping by regulating digital assets without clear rules, risking industry harm. Calls for clear legislative guidelines to foster innovation. #CryptoRegulation #Update
US lawmakers grilled SEC Commissioner Crenshaw on her anti-crypto stance. She emphasized risks in the global crypto market and the need for investor trust. Senator Hagerty criticized her opposition to spot Bitcoin ETFs. Regulatory uncertainty remains a major issue. #Crypto #Update
The SEC has concluded its probe into Paxos over its Binance USD (BUSD) stablecoin, declaring no enforcement actions. This decision clarifies that BUSD is not a security, potentially paving the way for clearer U.S. crypto regulations. #CryptoNews
#Update The House has postponed the vote to override President Biden’s veto on the SEC’s anti-crypto rule, SAB 121, to July 11. SAB 121 mandates firms to list crypto assets as liabilities, sparking debate over its impact on business growth. The outcome is crucial for U.S. crypto regulation.
CFTC Chairman Rostin Behnam cited a Northern District of Illinois ruling that Bitcoin $BTC and Ethereum $ETH are commodities. This supports the CFTC’s jurisdiction in crypto regulation amid SEC disputes. The ruling, though not nationwide, could shape future regulations. #CryptoLaw #Update
Rep. Patrick McHenry urges a veto overturn of President Biden’s decision on SEC’s SAB 121 during a debate on H. J. Res. 109. The resolution impacts digital asset custody regulations and had bipartisan support. McHenry criticizes the SEC’s overreach and calls for policy revisions. #FinanceNews
Federal Reserve Chair Jerome Powell supports the bipartisan Lummis-Gillibrand Payment Stablecoin Act, aiming to regulate US dollar-linked stablecoins by year-end. The bill seeks to enhance transaction stability and security, despite concerns from Coin Center about innovation impacts. #CryptoRegulation
CFTC Chair Rostin Behnam testified that an Illinois court recognized $BTC and $ETH as commodities and contended that 70-80% of tokens are non-securities, opposing SEC Chair Gary Gensler’s view. He urged Congress to swiftly legislate for better investor protection in the digital asset market. #CryptoRegulation
Nigeria’s Finance Minister Wale Edun urges @SECNigeria to regulate the crypto market amid AI and virtual asset growth. Risks of misinformation from crypto firms about licensing highlighted. Nigeria leads in Bitcoin interest, stressing the need for clear regulations. #CryptoRegulation
Parties in the Ripple lawsuit filed motions to seal exhibits following a favorable order for Brad Garlinghouse, Ripple Labs, and XRP II. Judge Hamilton set deadlines for motions and hearings in July. Meanwhile, whales are accumulating $XRP ahead of the final judgment on penalties. #Update
Ryan Selkis, CEO of @MessariCrypto, accuses the SEC of corruption and pledges to stop cooperation, claiming it fails to protect citizens and regulate crypto. He believes investigative journalism is more effective than litigation. #CryptoNews
.@MessariCrypto founder Ryan Selkis declares “operational war” on the SEC, calling Chair Gary Gensler corrupt. Selkis’s “Declaration of Independence from the SEC” challenges its authority, aiming to reshape U.S. crypto regulations through courts, Congress, and media. #CryptoNews
