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David Attlee3 hours agoCrypto futures and ETFs are knocking at the door: Law Decoded, Aug. 13–20.SEC is likely to approve multiple applications for Ether futures exchange-traded funds simultaneously.563 Total views6 Total sharesListen to article 0:00NewsletterJoin us on social networksCryptocurrency exchange Coinbase has received approval from the United States National Futures Association to offer investments in crypto futures to eligible customers. The approval enables Coinbase to introduce Bitcoin (BTC) and Ether (ETH) futures contracts through its Commodity Futures Trading Commission-regulated derivatives exchange. 


Meanwhile, citing sources familiar with the matter, The Wall Street Journal reported that the U.S. Securities and Exchange Commission (SEC) is likely to approve multiple applications for Ether futures exchange-traded funds (ETFs) simultaneously. So far, the SEC has not instructed the firms to withdraw their applications, unlike in 2021. This suggests the regulator won’t block the fund’s launch within a few weeks. The SEC’s decision on Bitcoin ETFs could also come in early 2024.


This could be why asset management firm Valkyrie has joined the list of companies filing for crypto ETFs. As per its application, the fund will not directly invest in Ether but will seek to purchase several ETH futures contracts. The ETF investment in Ether futures contracts will be limited to 8,000 contracts per month in compliance with position limits established by the Chicago Mercantile Exchange.SEC is allowed to appeal in the Ripple case


U.S. Judge Analisa Torres has granted a request from the SEC to file a motion for leave to file an interlocutory appeal in its case against Ripple Labs. According to U.S. law, an interlocutory appeal occurs when a ruling by a trial court is appealed while other aspects of the case are still proceeding.


The decision came just a few hours after Ripple Labs voiced opposition to a potential appeal in the case. Ripple’s lawyers argued that an appeal requires a pure question of law and that the SEC’s request raises no new legal issues needing review. They also insisted that the regulator’s claim of an incorrect court ruling is insufficient and that an immediate appeal will not advance the termination litigation proceedings.


Continue readingSingapore gets its regulatory framework for stablecoins


Singapore’s central bank has released a revised regulatory framework to ensure stability for single-currency stablecoins regulated in the city-state. The framework outlines several requirements for stablecoin issuers, including redemption timelines, disclosures, reserve management and capital requirement. The Monetary Authority of Singapore noted only stablecoin issuers that fulfill the new framework’s requirements could apply to become MAS-regulated — a label the central banks says ensures they can be distinguished from non-regulated stablecoins by users.


Continue readingU.S. House Democratic coalition creates AI working group


Democrats from the U.S. House of Representatives have formed a working group on artificial intelligence to introduce new legislation around the nascent artificial intelligence (AI) tech sector. The 97-member New Democrat Coalition promises its unit to work with President Joe Biden’s administration, stakeholders and lawmakers from both sides of the political arena to develop “sensible, bipartisan policies to address this emerging technology.” According to Representative Derek Kilmer, who will serve as chair of the working group, its primary focus will be to crack down on the spread of misinformation and air concerns about advanced AI-generated deepfakes becoming increasingly prevalent online.


Continue reading# Singapore# SEC# ETF# Futures# RegulationAdd reactionAdd reactionRead moreWhat are NFT royalties, and how do they work?From the U.S. to Japan, regulators are beginning to embrace crypto2024 could be very bullish for crypto — Here’s why

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