Recent developments in the approval process for spot Ethereum exchange-traded funds (ETFs) have sparked greater optimism among industry experts. The Securities and Exchange Commission (SEC) has requested spot Ethereum ETF applicants to update their 19-b4 filings, prompting speculation that approvals may be on the horizon. Bloomberg ETF analyst Eric Balchunas hinted that the SEC might
Regulation
Coinbase, one of the leading cryptocurrency exchanges, has stated that they believe there is a 30% to 40% chance of the SEC approving spot Ethereum ETFs by the end of the month. This prediction comes from their Institutional Research Analyst, David Han. He pointed out that the correlation between CME futures products and spot exchange
Oklahoma made history by becoming the first state in the United States to legally protect the right to self-custody Bitcoin. This move was solidified through the signing of a new bill by Republican Governor Kevin Stitt, known as the ‘Bitcoin Rights’ bill – HB3594. The legislation aims to ensure that residents of Oklahoma have the
The US Treasury Department has laid out a comprehensive plan to tackle the risks posed by cryptocurrencies and other emerging technologies in its 2024 National Strategy for Combating Terrorist and Other Illicit Financing. The strategy aims to address the evolving threat environment where criminal organizations are increasingly using digital assets for illegal activities such as
The recent signing of HB 3594 into law by Governor Kevin Stitt marks a significant milestone in Oklahoma’s stance on cryptocurrency. This bill, set to take effect on November 1, solidifies protections for individuals and businesses engaging in crypto-related activities within the state. Protecting Freedom of Use One of the key provisions of the new
Deutsche Bank has recently made headlines with its increased involvement in digital assets and tokenization by participating in the Monetary Authority of Singapore’s Project Guardian. This innovative initiative aims to test asset tokenization applications in a regulated environment, focusing on their viability and potential integration within financial markets. Joining forces with Memento Blockchain and Interop
Two US lawmakers, Senators Cynthia Lummis and Ron Wyden, have recently taken a stand against the Department of Justice’s attempt to expand the definition of a money-transmitting business. They argue that the DOJ’s broad interpretation could potentially criminalize non-custodial crypto asset software services. The Senators emphasized that such an expansive interpretation contradicts both the clear
The International Monetary Fund (IMF) has advised Nigeria to consider regulating the use of digital assets by licensing international cryptocurrency exchanges. This suggestion was put forth in the IMF’s latest consultation report for Nigeria. The goal behind this recommendation is to strengthen the country’s economic stability and elevate its position within the African cryptocurrency landscape.
The proposed Financial Innovation and Technology for the 21st Century (FIT21) Act is gearing up for a potential House floor vote by the end of May, offering the crypto industry much-needed clarity on regulatory oversight. Advocated by House Financial Services Committee Chairman Patrick McHenry, this legislation aims to address the long-standing issues of market oversight
The European Securities and Markets Authority (ESMA) has recently launched a review of the rules governing crypto asset investments by UCITS (Undertakings for Collective Investment in Transferable Securities) in response to the European Commission’s call to keep up with market developments. This review aims to address the challenges and opportunities presented by the growing crypto
