SEC | ForkLog - Part 20

ForkLog 12 21.03.2024

Coinbase’s Chief Legal Officer Urges SEC to Approve Ethereum ETF

Coinbase argues for treating Ethereum as a commodity. Coinbase Derivatives to list futures for Dogecoin, Litecoin, and Bitcoin Cash. The SEC lacks substantial reasons to reject applications for an ETH-ETF, according to Coinbase’s Chief Legal Officer, Paul Grewal. Sigh… again with the ETH misinformation as we await a decision on ETH ETPs. Ok—let’s talk about […]

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ForkLog 17 20.03.2024

Ethereum Foundation Allegedly Receives Confidential Request from Unnamed State Authority

The Ethereum Foundation, a non-profit organization registered in Switzerland, has reportedly received a confidential request from an unnamed “state authority,” according to CoinDesk. A commit on GitHub dated February 26, 2024, indicates that the website’s source code was altered following a “voluntary request from a state authority, which included a confidentiality requirement.” The content of […]

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ForkLog 15 20.03.2024

Coinbase Allies Urge SEC to Establish Cryptocurrency Regulations

The Crypto Council for Innovation (CCI), venture firm Paradigm, the U.S. Chamber of Commerce, and others have rallied behind Coinbase in its call for the SEC to formulate rules for the digital asset industry, reports The Block. In court filings as amicus curiae, these organizations argued that the Commission lacks a clear strategy for regulating […]

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ForkLog 13 17.03.2024

SEC Charges 17 in $300 Million CryptoFX Bitcoin Scheme

The U.S. Securities and Exchange Commission (SEC) has charged 17 individuals involved in the CryptoFX financial pyramid. The scheme resulted in $300 million in damages. SEC’s Director of Enforcement, Gurbir Grewal, stated that the Texas-based company deceived 40,000 investors across ten U.S. states and two other countries. “CryptoFX was a $300 million Ponzi scheme targeting […]

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ForkLog 11 15.03.2024

US Senators Oppose SEC Approval of New Crypto ETFs

On March 11, two US senators sent a letter to SEC Chairman SEC Gary Gensler, urging a halt to the approval of new exchange-traded funds based on digital assets, citing “enormous risks.” The success of the BTC spot products clearly ruffling some feathers on the Hill. @SenatorJackReed and @Senlaphonza write to the @SECGov urging:-no further […]

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ForkLog 20 11.03.2024

Grayscale and Coinbase Discuss ETH-ETF Conversion with SEC

Coinbase presented arguments for converting Grayscale’s Ethereum Trust into a spot ETF. SEC representatives showed little enthusiasm during the discussion. Bloomberg and FOX Business see this as reducing the likelihood of product approval in May. Representatives from Grayscale and Coinbase discussed with the SEC the rule changes necessary to launch an ETF based on the […]

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ForkLog 8 08.03.2024

Gensler Likens Bitcoin to a Roller Coaster

Following the first cryptocurrency reaching a new peak, SEC Chairman SEC Gary Gensler highlighted its high volatility and offered advice to investors. “[Cryptocurrencies] are a highly speculative asset class. Just look at the volatility of Bitcoin in recent days. I grew up loving roller coasters. […] But investors really need to be aware that such […]

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ForkLog 9 05.03.2024

SEC Delays Decision on BlackRock’s Spot Ethereum ETF

The U.S. Securities and Exchange Commission (SEC) extended the review period for BlackRock’s application to launch a spot Ethereum ETF. The regulator made a similar decision regarding a comparable proposal from Fidelity. The Commission will continue to collect public comments. Both investment giants submitted applications to register exchange-traded funds based on the spot price of […]

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ForkLog 9 04.03.2024

US Court Deems Cryptocurrency Trading as Securities Transactions

In an in absentia ruling on an insider trading case involving Coinbase, a US court determined that trading certain crypto assets on secondary markets constitutes securities transactions. In July 2022, authorities arrested former Coinbase product manager Ishan Wahi and his brother Nikhil, accusing them of insider trading fraud. Samir Ramani, a close friend of the […]

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ForkLog 14 01.03.2024

SEC’s Peirce Calls for Softer Approach to Cryptocurrency Regulation

The U.S. financial system requires greater decentralization. The regulation and enforcement by the SEC concerning digital assets needs to be softened, stated Commissioner Hester Peirce during the ETH Denver conference. Hester Peirce Fireside: What’s America’s Crypto Future? Presented by @HesterPeirce the SEC Commissioner & moderator MacKenzie Sigalos from @CNBC Watch the full video below ? […]

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ForkLog 9 29.02.2024

SEC Challenges Terraform Labs’ $166 Million Payment to Law Firm

The SEC has approached the bankruptcy court to request that Terraform Labs be denied the use of the law firm Dentons as an advisor due to a “suspicious” payment. This was reported by The Block. According to the agency, Terraform Labs transferred a “staggering” $166 million into Dentons’ advance payment system. Of this total, $122 […]

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ForkLog 28 23.02.2024

Kraken Challenges SEC Lawsuit as a ‘Dangerous Precedent’

The cryptocurrency exchange Kraken has filed a motion to dismiss a lawsuit by the SEC, arguing that the case could set a “dangerous precedent” for the regulator’s authority. In November 2023, the Commission accused the company of offering unregistered securities in the form of digital tokens on its platform. The agency also alleged that Kraken […]

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