In a recent move, Grayscale Investments has filed an S-3 registration statement with the U.S. Securities and Exchange Commission (SEC) to register shares of Grayscale Bitcoin Trust (GBTC). The intention behind this filing is to list the shares on NYSE Arca under the GBTC symbol, reflecting the company’s aspiration to gain regulatory compliance and raise
Regulation
In a significant move towards regulating crypto-assets, the Council of the European Union (EU) has adopted a directive aimed at enhancing cooperation amongst national taxation authorities. This directive, announced on October 17th, marks a proactive approach to navigate the ever-evolving digital economy. With comprehensive amendments to EU rules on administrative cooperation on taxation, the directive
The European Securities and Markets Authority (ESMA) recently issued a warning that investors in the European Union (EU) will not be adequately protected under the EU’s crypto asset market rules until the end of 2024, at the earliest. This comes despite the EU being the first global jurisdiction to endorse regulatory rules for crypto assets.
Cathie Wood, the CEO and CIO of ARK Invest, recently spoke about the pending spot Bitcoin ETF applications in an interview with CNBC. As ARK Invest is actively pursuing a spot Bitcoin ETF, Wood provided insights into the current state of her company’s application. She mentioned that they had responded to the SEC’s request for
California Governor Gavin Newsom has recently given his approval to a new cryptocurrency regulation bill, signaling a significant shift in his stance on digital assets. The legislation, known as the Digital Financial Assets Law, introduces stricter regulations for crypto businesses operating in California. These regulations are set to take effect in July 2025 and aim
In a significant turn of events, the U.S. Securities and Exchange Commission (SEC) has chosen not to challenge a recent court ruling that deemed its rejection of Grayscale Investments’ application to create a spot bitcoin exchange-traded fund (ETF) unjust. In August, the District of Columbia Court of Appeals in Washington declared the SEC’s refusal invalid,
Two U.S. Senators, Elizabeth Warren and Angus S. King, Jr., have stepped up their efforts to prompt the U.S. Department of the Treasury and the Internal Revenue Service (IRS) to expedite the implementation of proposed tax reporting rules for cryptocurrency brokers. In a joint letter to the regulators, the senators expressed their concerns regarding the
The Federal Open Market Committee (FOMC) held a meeting in September to discuss the current economic environment and its impact on monetary policy. Despite facing a complex set of challenges, the committee confirmed its commitment to raising interest rates, with many participants anticipating at least one more increase in the near future. One of the
The United Kingdom’s Financial Conduct Authority (FCA) has taken action against Binance’s local partner, Rebuildingsociety.com. The FCA has prohibited Rebuildingsociety.com from approving financial promotion content from unauthorized individuals or entities. The regulator has instructed the company to revoke any previous approvals granted to unlicensed entities. In addition, Rebuildingsociety.com must inform its clients that it cannot
Elon Musk finds himself in a difficult situation as he attempts to contest the U.S. Securities and Exchange Commission (SEC). The SEC recently announced legal action against Musk seeking to compel him to comply with a subpoena related to his acquisition of Twitter (now X). Despite receiving the subpoena in May, Musk attempted to avoid
