NFT News by Thebittimes.Com

Bloomberg ETF analyst Eric Balchunas doubts the SEC will deny ETFs after XRP’s price spiked on a faked BlackRock XRP trust filing, but it is a “bad look.” The Nov. 13 XRP (XRP) price action stemming from a falsified BlackRock XRP trust filing shouldn’t sway the United States securities regulator’s decision to approve or delay spot Bitcoin (BTC) exchange-traded funds (ETFs) — but it isn’t a good look, say industry observers. The Securities and Exchange Commission has previously claimed the Bitcoin market can be manipulated and has knocked back spot Bitcoin ETFs, citing a lack of market manipulation controls. Bloomberg ETF analyst Eric Balchunas told Cointelegraph the fake XRP filing should have little to no impact on the SEC’s final decision. “We doubt this will impact the situation with spot Bitcoin ETFs,” Balchunas said. However, he added the incident could validate the SEC’s beliefs. “There’s no doubt it is a bad look that arguably validates the ‘fraud and manipulation’ that the SEC...

The community is hopeful that the assertion by the CFTC will put to bed claims that staked coins are securities according to the Howey Test. The Commodity Futures Trading Commission (CFTC) has again labeled Ether (ETH) as a commodity in a Dec. 13 court filing — in contrast to statements from chief Rostin Behnam on Nov. 30 suggesting that Bitcoin was the sole cryptocurrency that should be viewed as a commodity. According to the CFTC, as per their filing today, ETH is a commodity . This really should put any Security designation to rest. pic.twitter.com/PkHWredNK4 — Hal Press (@NorthRockLP) December 13, 2022 In its lawsuit against Sam Bankman-Fried, FTX, and sister company Alameda Research, the regulator on multiple occasions referred to Ether, Bitcoin (BTC) and Tether (USDT) "among others" as "commodities" under United States law. “Certain digital assets are “commodities,” including bitcoin (BTC), ether (ETH), tether (USDT) and others, as defined under Section 1a...