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Also Read: Bitcoin , Ethereum To Rise Amid Positive US Fed & Inflation Data or Fall As Market Makers Exit Interestingly, the SEC Chair spoke about the need to protect investors, saying the Crypto Market s should not be allowed to harm them. In his speech, Gensler mentioned a 2018 conversation by Binance ’s then Chief Compliance Officer Samuel Lim with a colleague about how the crypto exchange is operating as an unlicensed securities exchange in the the United States . The same was included in the SEC’s recent complaint against Binance , which alleged it of lying to regulators. Gary Gensler Warns Crypto Market, Again Gensler reiterated in his opening remarks that most cryptocurrencies qualify as securities by the virtue of meeting the investment contract test. However, the SEC Chair made it a point to warn that lack of compliance could lead to more and more anti-crypto enforcement actions. He said, “not liking the message is not the same thing as not receiving ...

Valkyrie Spot Bitcoin ETF Accepted by the US SEC According to an official filing on July 17, the US SEC accepted Valkyrie spot Bitcoin ETF for a proposed rule change to list and trade it under Nasdaq. The public comments are due 21 days after publication in the Federal Register. The US will officially begin its review process after soliciting public comments. advertisement Eric Balchunas, a senior ETF analyst of Bloomberg, took to Twitter to share that the spot Bitcoin ETF application submitted by Valkyrie is confirmed by the US SEC. Also, Valkyrie was the last one to apply for a spot Bitcoin ETF amid a wave of spot Bitcoin ETF applications. He also noted the ticker “ BRRR ” selected by Valkyrie Bitcoin ETF for Nasdaq listing. US SEC has already accepted the BlackRock spot Bitcoin ETF application. Other Bitcoin ETF filings by Fidelity Investments, WisdomTree, VanEck, Invesco, and ARK 21Shares are also accepted. This clearly indicates that the regulat...

Also Read: XRP Lawyer Settles Debate On XRP As Security advertisement SEC Refuses Take Position Paul Grewal, Chief Legal Officer for Coinbase mentioned that while reviewing a transcript of Binance’s hearing before Judge Jackson, he spotted the US SEC’s puzzling legal strategy. As per the transcription, the court asked the SEC about the defendants trading tokens that are not considered as securities. So, are the rest of the tokens security or not? SEC Counsel dodged the question stating that it is reserving its right as they are still at the pleading stage. It is required to get into the discovery phase where a full assessment can be done around the categorisation. Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read Best Crypto...

Also Read: Coinbase Bags Another Win Against US SEC In Crypto Rulemaking Case advertisement IMF Highlights Crypto Bans Led By Regulators As per the IMF report, an interest in Central Bank backed Digital Currencies (CBDC) is on the rise in Latin America and the Caribbean. However, it noted that managing risks around the crypto is crucial and the current approach taken up by serval regulators might not work. It mentioned that a few countries have gone on to ban crypto assets entirely. This perspective can prove to be wrong in the long run. The IMF advised that a regulator needs to focus on addressing the factors leading to a spike in demand for crypto assets. This includes checking up on users’ digital payment needs along with improving transparency. It can be done by recording digital assets related transactions in a region. IMF highlighted that risks related to digital assets vary from country to country. However, the UN body has already issued an...

Also Read: Coinbase Legal Head Meets Ripple Chief Legal Officer; Sparks XRP Relisting Trend advertisement XRP Coinbase Relisting, Possible Or Not? In a recent interview, Paul Grewal, Coinbase’s legal chief explored the possibility of relisting XRP on the exchange. The host asked Grewal that of If the District Court decides that secondary market sales of Ripple ’s XRP are not securities, how would that be going to affect the relisting of the token on Coinbase? To this Coinbase legal chief highlighted that they continuously evaluate and reevaluate the listing of tokens. The nature of XRP was subject to litigation and 2 years after the matter is still subject to ligation he added. Read More XRP Lawsuit News Here… He mentioned that lots of key industry players are waiting for a verdict in the XRP lawsuit. However, whatever the court rules out, Coinbase will be following the appeal after that and it completely depends on the court...