The U.S. Securities and Exchange Commission (SEC) Chair, Gary Gensler, recently issued a cautionary advisory regarding crypto asset investments. As the deadline for the approval of a spot Bitcoin exchange-traded fund (ETF) approaches, Gensler emphasized the risks associated with investing in cryptocurrencies. He highlighted regulatory non-compliance, volatility, and potential fraudulent activities as key concerns. Non-Compliance
Regulation
The path to Bitcoin exchange-traded fund (ETF) approval in the United States has been a long and winding one. Despite the growing demand for a Bitcoin ETF, the approval process has faced numerous delays and setbacks. This article will explore the recent updates and predictions regarding the timeline for the approval of a Bitcoin ETF.
California Senator Steve Padilla has introduced two new bills, Senate Bills 892 and 893, aimed at establishing a comprehensive and ethical framework for the use of artificial intelligence (AI) in the state. These proposed rules aim to harness the potential of AI while ensuring its safe and responsible use, particularly in state contracts. Senator Padilla
The United States’ main securities regulator, the U.S. Securities and Exchange Commission (SEC), is expected to inform spot Bitcoin ETF applicants of their approval in the next few days, according to Reuters. This notification could be given on either Tuesday, January 2nd or Wednesday, January 3rd, allowing the applicants time to prepare for the launch
In a bold and controversial move, U.S. Congressman Warren Davidson, supported by House Majority Whip Tom Emmer, has called for the firing of SEC Chair Gary Gensler in 2024. This decision comes as a response to alleged corruption and abuses of power within the Securities and Exchange Commission (SEC). Throughout 2023, tensions between the SEC
China has ramped up its efforts to regulate the use of cryptocurrencies in illegal foreign exchange (forex) trading, specifically targeting the misuse of stablecoins like Tether (USDT). The initiative is part of the country’s broader strategy to combat financial fraud and maintain stability in its forex market. Recent cases of using USDT as a medium
In a significant move towards transparency and accountability, the South Korean government has announced the implementation of a unified public official asset disclosure service. This development aims to streamline the existing fragmented system and provide comprehensive information about the assets of public officials. Starting from January 1, 2024, all asset disclosure information will be accessible
Indian financial regulators are expressing reservations about integrating cryptocurrencies into the country’s economic framework, according to local media reports. Senior officials from the Reserve Bank of India (RBI) believe that cryptocurrencies provide limited benefits as regulated financial instruments and resemble high-risk gambling products. This cautious approach is in line with the broader global skepticism towards
The Japanese government recently made a significant decision to discontinue the imposition of unrealized gains tax on crypto assets held by corporations. This move, approved in a December cabinet meeting, is expected to come into effect on April 1, 2024, and marks a notable shift in Japan’s taxation policies related to cryptocurrencies. Under the previous
The U.S. Securities and Exchange Commission (SEC) has recently set a strict deadline of December 29th for companies interested in launching exchange-traded funds (ETFs) tied to the spot Bitcoin price. This development, which emerged from a high-level meeting on December 21st, has garnered significant attention from leading financial entities, including BlackRock, Grayscale Investments, ARK Investments,
