Fun

News Feed - 2023-09-05 05:09:00

Prashant Jha3 hours agoGrayscale victory, SEC delays decision on Bitcoin ETFs: Law DecodedGrayscale victory doesn"t help Bitocoin spot ETF approval on first deadline as SEC postpones decison to next deadline.2353 Total views9 Total sharesListen to article 0:00NewsletterJoin us on social networksOn Aug. 29, crypto asset manager Grayscale Investments scored a major victory against the United States Securities and Exchange Commission in its efforts to convert its over-the-counter Grayscale Bitcoin Trust (GBTC) into a listed Bitcoin exchange-traded fund (ETF). The U.S. Court of Appeals Circuit Judge Neomi Rao ordered Grayscale’s petition for review be granted and the SEC’s order to deny the GBTC listing application be vacated. Previously, Rao said that the SEC did not “offer any explanation” as to why Grayscale was in the wrong. 


Initial enthusiasm in the crypto community about the victory was tempered by the understanding of the limits of the court’s decision. “So far, every time they lose in court they just shamelessly say the judge got it wrong and pursue more shenanigans,” Delphi Labs general counsel Gabriel Shapiro said. According to Zero Knowledge Consulting managing partner Austin Campbell: “For many companies, fighting back is incredibly expensive (you will win, but you’ll be bankrupt when you do) or you’re a financial conglomerate where the SEC can fuck up the rest of your business in the meantime. Gangster behavior.”


Meanwhile, the SEC has postponed its decisions on six applications for spot Bitcoin ETFs. It has designated a longer period in which it may review applications from WisdomTree, VanEck, Invesco Galaxy, Bitwise and Valkyrie, as well as the Wise Origin Bitcoin Trust proposed by Fidelity. The SEC will have another 45 days upon publication in the Federal Register to consider the proposed rule changes allowing the listing of the investment vehicles, giving the regulator until October to approve, deny or delay a decision.


Travel Rule comes into effect in the United Kingdom


Crypto asset businesses in the United Kingdom could now begin withholding certain crypto transfers to comply with the new Travel Rule for crypto that came into effect last week. From now on, if an inbound payment is received from a person or entity from an overseas jurisdiction that hasn’t implemented the Travel Rule, the virtual asset service provider must make a “risk-based assessment” as to “whether to make the crypto assets available to the beneficiary.” The same rule applies to Brits looking to send payments outside the United Kingdom.


Continue reading


First unregistered securities sales claim against NFT offering in the United States


The SEC has accused Impact Theory — a media and entertainment company headquartered in Los Angeles — of engaging in unregistered securities transactions by selling nonfungible tokens (NFTs) to investors from October to December 2021. Allegedly, it raised almost $30 million through the sales of NFTs it called Founder’s Keys, which were offered in three tiers. The company “encouraged potential investors to view the purchase of a Founder’s Key as an investment into the business,” according to the SEC.


Continue reading


Crypto declared a property by a Chinese court


A People’s Court in China published a report on the legality of virtual assets, analyzing the criminal law attributes of these digital assets. The court noted in its report that virtual assets under the current legal policy framework are still legal property and protected by law.


The “Identification of the Property Attributes of Virtual Currency and Disposal of Property Involved in the Case” report acknowledged that virtual assets have economic attributes and thus can be classified as property. Although China has deemed all foreign digital assets illegal by imposing a blanket ban, the report argues that virtual assets held by individuals should be considered legal and protected by law under the current policy framework.


Continue reading


Further reads


Kentucky regulator denies plan for subsidizing crypto mining facility


Binance Australia GM ‘really confident’ regulators will side with crypto


MiCA: The good, the bad and the ugly of the EU’s crypto rules


Pioneering the future with omnichain solutions: XGo ID and TapiocaDAO share insights


Will Evergrande’s collapse have a silver lining for crypto?# Bitcoin# Blockchain# Cryptocurrencies# China# Grayscale# RegulationAdd reactionAdd reactionRead moreWhat is an atomic swap, and how does it work?The story of a crypto influencer’s attempt to bend realityBitcoin ETF applications: Who is filing and when the SEC may decide

News Feed

OpenAI partners with lab that created the atomic bomb, but for bioscience
Tom Mitchelhill2 hours agoOpenAI partners with lab that created the atomic bomb, but for bioscienceOpenAI is partnering with Los Alamos National Laboratory, which conducts research in fields including national security,
Tristan Greene11 hours agoPaxos and MercadoLibre partner up to bring USDP to MexicoThe move provides PAX coin access to Mexico’s 3.1 million-plus cryptocurrency users.1216 Total views1 Total sharesListen to article 0:0
Turner Wright7 hours agoSam Bankman-Fried denies defrauding FTX users at trialAs the final witness in his defense case, the former FTX CEO placed some of the blame for the crypto exchange’s failure on Gary Wang and Nis
Bitfarms Purchases 48,000 Bitcoin Miners, Plans to Increase Hashpower by 5 Exahash
Bitfarms Purchases 48,000 Bitcoin Miners, Plans to Increase Hashpower by 5 Exahash The publicly listed Canadian bitcoin mining operation Bitfarms has announced t
Arijit Sarkar1 hour agoHong Kong retains top crypto-ready position for two consecutive yearsWhile Hong Kong grabbed the top spot with a crypto readiness score (CRS) of 8.36, the United States fell down a spot to third pl
Sanctions Motivate Russia to Create Own Crypto Market Infrastructure, Finance Ministry Says
Sanctions Motivate Russia to Create Own Crypto Market Infrastructure, Finance Ministry Says With sanctions cutting off Russia from global finances, Moscow’s motivation to es
Iran Licenses $7.3 Million Bitcoin Mining Enterprise, Move Aimed at Easing U.S. Sanctions
Iran Licenses $7.3 Million Bitcoin Mining Enterprise, Move Aimed at Easing U.S. SanctionsIran has issued a bitcoin mining license to Iminer, a Turkish-based company. Iminer will ope
Prashant Jha10 hours agoAave Chan founder proposes buying $2M in CRV from Curve founderThe proposal drew mixed reactions from the community, with some criticizing the strategy for buying more CRV even as others are looki
With Over 90% of BTC’s Supply Issued, Bitcoin’s Mining Difficulty Reaches a Lifetime High
With Over 90% of BTC"s Supply Issued, Bitcoin"s Mining Difficulty Reaches a Lifetime High Bitcoin’s mining difficulty increased this week on March 31, 2022, at block height
Scientists use WiFi signals to track human movement for the metaverse
Tristan Greene6 hours agoScientists use WiFi signals to track human movement for the metaverseWiFi sensing makes it possible to track movement in the dark and through walls.2065 Total views7 Total sharesListen to article
Cardano’s Alonzo Upgrade Date Revealed — ADA Gains Over 16% After Announcement
Cardano"s Alonzo Upgrade Date Revealed — ADA Gains Over 16% After Announcement On Friday, the price of the token cardano spiked over the $2 handle nearing the
Don’t Fade Dogecoin! – Analyst Says DOGE Is About To Rally
Este artículo también está disponible en español. Dogecoin is on the verge of breaking out from a 23-day consolidation range, setting its sights on new local highs. The m