Recent developments at the Securities and Exchange Commission (SEC) have sparked optimism among spot Ethereum ETF applicants. The SEC has requested applicants to update their 19-b4 filings, indicating a potential shift in their stance towards approving these applications. Bloomberg ETF analyst Eric Balchunas has suggested that the SEC may not deny the pending applications as
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The data provided by Coinbase suggests that there is a 30% to 40% chance of the SEC approving spot Ethereum ETFs by the end of the month. This information comes from an Institutional Research Analyst at Coinbase, David Han. Han believes that the correlation between CME futures products and spot exchange rates could play a
In a groundbreaking move, Oklahoma has passed a bill that legally protects the right to self-custody Bitcoin, setting a precedent for other states to follow. The bill, known as HB3594 or the ‘Bitcoin Rights’ bill, was signed into law by Republican Governor Kevin Stitt, ensuring that residents can hold, control, and use digital assets without
The US Treasury Department is taking steps to address the risks posed by cryptocurrencies and other emerging technologies through comprehensive regulations. In its 2024 National Strategy for Combating Terrorist and Other Illicit Financing report, the Treasury has identified digital assets as a key area of focus. The goal is to prevent illicit actors from exploiting
Oklahoma recently made headlines with the signing of a new bill, HB 3594, into law by Governor Kevin Stitt. This bill, set to take effect on November 1, is aimed at protecting crypto-related rights within the state. One of the key aspects of this legislation is that the Oklahoma state government is now prohibited from
Deutsche Bank has recently showcased a heightened interest in digital assets and tokenization by becoming a part of the Monetary Authority of Singapore’s Project Guardian. This initiative is designed to test asset tokenization applications within a regulated environment, with a specific focus on assessing the feasibility and potential integration of such technologies within financial markets.
Two US lawmakers, Senators Cynthia Lummis and Ron Wyden, have recently voiced their opposition to the Department of Justice’s attempt to broaden the definition of a money-transmitting business. They argue that this expansion could potentially criminalize non-custodial crypto asset software services. In a letter to US Attorney General Merrick Garland, the lawmakers expressed their concerns
The International Monetary Fund (IMF) has recommended that Nigeria embrace the regulated use of digital assets by licensing international crypto exchanges. The watchdog made the proposal in its latest consultation report for Nigeria. The move aims to bolster the country’s economic stability while enhancing its status within the African crypto sector. The recommendation comes amid
House Financial Services Committee Chairman Patrick McHenry has announced that new legislation, known as the Financial Innovation and Technology for the 21st Century (FIT21) Act, is on track for a potential House floor vote by the end of May. This legislation is designed to provide much-needed clarity regarding regulatory oversight for the crypto industry, addressing
The European Securities and Markets Authority (ESMA) has recently launched a review to assess the rules governing crypto asset investments by UCITS (Undertakings for Collective Investment in Transferable Securities) funds. This review is part of a larger examination of the EU’s financial regulatory framework and has been initiated in response to a request from the