The renomination of anti-crypto SEC Commissioner Caroline Crenshaw may be delayed until post-2024 Elections due to Senate scheduling. Crenshaw, known for opposing Bitcoin ETFs, could impact SEC’s stance on crypto. Senate changes could shift SEC power balance. #Crypto #SEC
SEC remains silent on spot Ethereum ETF approval, leaving market participants in suspense. $ETH holders and major players are accumulating in anticipation. Approval could attract $1B monthly and push $ETH past $3,200, potentially sparking a bull run to $4,000. #Ethereum #Update
Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty mark the first anniversary of Judge Torres’ ruling declaring $XRP not a security. This decision curbed SEC overreach and boosted $XRP’s market cap by 6% and trading volume by 46%. #CryptoNews
US Rep. Tom Emmer accuses SEC Chair Gary Gensler of “regulation-by-harassment,” demanding his dismissal. Mark Cuban echoes the call, citing harm to crypto growth. Crypto leaders warn current SEC practices may hurt Biden’s re-election. #CryptoRegulation
Stacks ($STX) surged 9% after the SEC concluded a three-year investigation into Hiro Systems, formerly Blockstack, without recommending enforcement action. This decision, following a similar outcome for Paxos, boosted market sentiment. $STX reached $1.71, marking a significant regulatory win for the crypto sector. #CryptoNews
The SEC has closed its investigation into Paxos’ $BUSD stablecoin, opting not to pursue enforcement actions. The NYDFS had earlier classified BUSD as a security, but Paxos continued supporting withdrawals. Former CFTC Chairman Giancarlo joins Paxos’ board. #CryptoRegulation
Judge denies Coinbase’s request to subpoena SEC Chair Gensler for testimony in ongoing legal case. Coinbase sought Gensler’s 2017-2024 correspondence, calling it crucial for SEC’s crypto stance. Judge Failla criticized the move as time-wasting, urging better dialogue. #CryptoRegulation #Update
SEC eases crypto reporting rules for banks, mitigating risk measures. This update, post-FTX bankruptcy, reduces capital requirements, enabling banks to offer crypto custody services. Balance investor risk and financial stability. #CryptoRegulation #Update
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.
