The Bank for International Settlements (BIS) has raised concerns about the potential fragmentation and the risk of dominance by private firms in the emerging metaverse. In a recent report, the BIS emphasizes the need for strategic oversight and public policies to ensure equitable access, data privacy, and consumer protections in this digital ecosystem. The report
Regulation
In a recent development, Ark Invest and 21Shares have made amendments to their joint application for a spot Ethereum exchange-traded fund (ETF). This move aims to address certain concerns raised by the U.S. Securities and Exchange Commission (SEC) and pave the way for the potential approval of a spot Ethereum ETF. One of the key
Grayscale CEO Michael Sonnenshein recently made a public statement urging regulators to approve spot Bitcoin exchange-traded fund (ETF) options. In his statement, he emphasized the importance of developing a robust listed options market for spot Bitcoin ETFs. Sonnenshein argued for equal treatment of similar products, including bitcoin futures ETFs and spot bitcoin ETFs, and highlighted
The South Korean Financial Services Commission (FSC) is taking significant steps to tighten regulations in the virtual asset sector. The recent announcement of legislative amendments focuses on enhancing the accountability and duties of crypto executives. The aim is to create a more stable and trustworthy environment for businesses and consumers in this rapidly evolving industry.
The approval of options on spot Bitcoin exchange-traded funds (ETFs) may face significant delays, according to a recent report by Reuters. The complex regulatory process involving the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) could extend the timeline for approval by several months, potentially pushing the approval date between
Coinbase, one of the leading cryptocurrency exchanges, has expressed criticism towards the U.S. Securities and Exchange Commission (SEC) over a recent legal filing. In a post on X platform, Paul Grewal, Coinbase’s Chief Legal Officer, voiced his discontent with the minimalistic nature of the SEC’s filing. Grewal urged readers to examine the administrative record of
EU-based cryptocurrency firms have received new guidance from the European Securities and Markets Authority (ESMA) regarding their ability to serve non-EU customers. The guidance, released on Jan. 29, outlines the extent to which third-country firms can offer crypto-asset services to clients outside of the EU. This article will examine the implications of ESMA’s guidance and
The Chairman of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, recently delivered a speech in Naples, shedding light on the need for increased regulatory efforts in the cryptocurrency industry. While the approval of Bitcoin ETFs may have given the impression of regulation, Behnam expressed significant concerns regarding the current state of cryptocurrency and digital
Recently, FOX Business reporter Eleanor Terrett discussed the expectations surrounding spot Ethereum ETF approvals. Terrett touched on a crucial point by suggesting that the U.S. Securities and Exchange Commission (SEC) is not inclined to approve a spot Ethereum ETF. While the source remains unidentified, it is uncertain whether they are a member of the SEC
In a recent reminder issued by the IRS on January 22nd, taxpayers are urged to answer a crucial question regarding digital assets and report any income related to these assets. This new development highlights the increasing focus of the IRS on the taxation of digital currencies and assets. The IRS now requires taxpayers to disclose