The Bank for International Settlements (BIS) has recently released a comprehensive report that sheds light on the potential risks and concerns surrounding the metaverse, a virtual digital ecosystem that has garnered significant attention in recent years. This article aims to analyze the report and delve into the challenges and opportunities that lie ahead for the
Regulation
The recent joint application by Ark Invest and 21Shares for a spot Ethereum exchange-traded fund (ETF) has attracted significant attention in the crypto community. However, a closer analysis of the amended S-1 filing reveals some important limitations and uncertainties surrounding this proposed ETF. In this article, we will delve into the details of the filing,
Grayscale CEO Michael Sonnenshein emphasized the importance of advocating for the development of a robust listed options market for spot Bitcoin exchange-traded funds (ETFs). In a statement on Feb. 5, Sonnenshein expressed his belief that it has never been more crucial to push for the approval of spot Bitcoin ETF options. The absence of listed
The South Korean Financial Services Commission (FSC) has recently made significant legislative amendments to strengthen the regulations surrounding virtual asset business operators. These amendments aim to enhance accountability and duties of crypto executives, ensuring greater compliance and oversight within the rapidly evolving virtual asset sector. The government’s focus is on creating a stable and trustworthy
The approval of options on spot Bitcoin exchange-traded funds (ETFs) may face significant delays, as reported by Reuters on February 1st. This delay is primarily due to the need for approval from two regulatory bodies, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). According to industry experts, this added
Coinbase’s Chief Legal Officer, Paul Grewal, recently criticized the U.S. Securities and Exchange Commission (SEC) for its minimalistic legal filing on January 30. Grewal expressed his dissatisfaction with the complete lack of substance in the administrative record, stating, “See for yourself whether it’s even close to complete or sufficient to justify their decision.” This article
Navigating the regulatory landscape can be a daunting task for cryptocurrency firms, especially those based in the European Union (EU). The European Securities and Markets Authority (ESMA) recently provided some guidance on the provision of crypto-asset services to non-EU customers, shedding light on the possibilities for EU-based firms. However, it is crucial for these firms
The cryptocurrency industry is rapidly evolving, and regulators are faced with the challenge of keeping up with its growth. In a recent speech delivered by CFTC Chair Rostin Behnam, he expressed significant concerns regarding the current state of cryptocurrency and digital asset regulation. This article delves into the key points made in his speech and
In the world of cryptocurrency, the approval of exchange-traded funds (ETFs) holds significant importance. Among the various digital currencies, Ethereum has emerged as a strong contender for a spot ETF. However, according to FOX Business reporter Eleanor Terrett, the future of spot Ethereum ETF approvals seems uncertain. Terrett suggests that the U.S. Securities and Exchange
The Internal Revenue Service (IRS) recently issued a reminder to all taxpayers to report any income related to digital assets. The IRS defines digital assets as including convertible virtual currency and cryptocurrency, stablecoins, and non-fungible tokens (NFTs). The agency has expanded the number of forms that include the question about digital assets and requires all
