SEC | ForkLog - Part 16

ForkLog 7 15.06.2024

Launch of Spot Ethereum ETFs Delayed, Analyst Reports

Bloomberg analyst Eric Balchunas has reported a delay in the launch of spot Ethereum ETFs to July 2, following feedback received by issuers on their S-1 forms. Note: our previous over/under was July 4th so this isn’t major shift but 1) we startted to feel like it would take longer so this is kinda good […]

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ForkLog 6 14.06.2024

Ripple Seeks to Reduce SEC Fine to $10 Million

Ripple Labs submitted a letter requesting a reduction of the SEC fine from $2 billion to $10 million. The company cited the agreement between the regulator and Terraform Labs (TFL) as a precedent. On June 12, TFL agreed to pay $4.47 billion. The court approved the deal, which includes $3.58 billion in compensation, a $420 […]

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ForkLog 7 14.06.2024

Gary Gensler Predicts Timeline for Ethereum-ETF S-1 Approvals

The SEC head suggested the registration of S-1 forms for an ETH-ETF could occur by summer’s end. The absence of staking in an Ethereum-based ETF may limit institutional demand for the product. JPMorgan expressed doubts about sustaining high inflows into BTC-ETFs. Approval of the S-1 for an Ethereum-ETF is possible “by the end of this […]

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ForkLog 22 13.06.2024

Terraform Labs Fined $4.47 Billion by SEC

Following the settlement agreement between the U.S. Securities and Exchange Commission (SEC) and Terraform Labs regarding the collapse of its ecosystem, the latter has agreed to pay $4.47 billion. On June 12, the regulator submitted a “proposed final consent judgment” for the judge’s approval. “[The document] not only considers the scale of the fraud by […]

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ForkLog 4 06.06.2024

Gary Gensler: Ethereum ETF Applications Will Require Time for Review

The review of applications for spot ETFs based on Ethereum will take “some time,” according to Gary Gensler, the head of the SEC. ?NEW: @SECGov Chairman @GaryGensler says the next step in the $ETH ETF approvals “will take some time,” possibly indicating a potential slow-walk of the S-1 approval process. https://t.co/iwfN9vvmt8 — Eleanor Terrett (@EleanorTerrett) […]

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ForkLog 6 01.06.2024

Ethereum ETF Issuers Submit Revised Applications to SEC

Franklin Templeton, VanEck, and Invesco Galaxy have submitted updated S-1 forms to the SEC. 21Shares has revised its ETH-ETF application, excluding ARK Invest. JPMorgan analysts predict low demand for ETH-ETF. Companies Franklin Templeton, VanEck, and Invesco Galaxy have submitted updated S-1 forms to the SEC for the registration of spot Ethereum-ETFs following a request from […]

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ForkLog 10 01.06.2024

Biden Vetoes Resolution to Overturn SEC’s SAB 121

U.S. President Joe Biden vetoed a document that would allow regulated companies, including banks, to hold cryptocurrency on their balance sheets. The document in question is the Staff Accounting Bulletin 121 (SAB 121) from the U.S. Securities and Exchange Commission (SEC). “SAB 121 reflects the SEC staff’s considered view on the accounting obligations of certain […]

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ForkLog 16 29.05.2024

SEC Withdraws Lawsuit Against DEBT Box, Ordered to Pay $1.8 Million in Costs

A US federal court ordered the SEC to pay approximately $1.8 million in costs related to the case against the mining company Digital Licensing, also known as DEBT Box. This amount includes fees for defense attorneys and other litigation expenses. “With this order, the court ensures that the final amount requested by both parties is […]

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ForkLog 15 24.05.2024

Court Sides with SEC Against YouTuber Ian Balina

Crypto investor and YouTuber Ian Balina violated U.S. securities laws in promoting and selling SPRK tokens, a Texas court ruled. In 2022, the U.S. Securities and Exchange Commission (SEC) accused Balina of participating in the unregistered ICO of Sparkster. The project marketed itself as a “no-code” development platform. It completed a crowdsale in July 2018, […]

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ForkLog 10 24.05.2024

SEC Approves Spot Ethereum ETFs: Key Developments

On May 23, the U.S. Securities and Exchange Commission (SEC) approved 19b-4 applications from issuers of spot exchange-traded funds based on Ethereum. The companies receiving approval include VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK Invest/21Shares, Invesco/Galaxy, and Bitwise. However, the regulator did not grant permission for Hashdex, whose application deadline expires on May 30. Trading […]

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ForkLog 12 22.05.2024

Gary Gensler Criticizes FIT21 Bill as Regulatory Threat

Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), voiced opposition to the FIT21 bill just hours before a vote. This was reported by CoinDesk. “[The document] would create new regulatory gaps and dismantle decades of precedent regarding oversight of investment contracts, exposing investors and capital markets to immeasurable risk,” he stated. FIT21 […]

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ForkLog 9 22.05.2024

SEC’s Leaning Towards Approval of Spot Ethereum ETFs Sparks Market Buzz

Insiders report SEC’s “leaning” towards approving ETH-ETFs. Ethereum co-founder Joe Lubin predicts a supply crunch post-ETF launch. Some experts see political undertones in the regulator’s actions. Officials from the U.S. Securities and Exchange Commission (SEC) have informed trading platforms that the agency is “leaning” towards approving spot Ethereum-ETFs. This was reported by Barron’s, citing anonymous […]

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