Fidelity Investments recently submitted a filing to the Securities and Exchange Commission (SEC) for a spot Ethereum exchange-traded fund (ETF). This proposal closely resembles Fidelity’s previous filing for a spot Bitcoin ETF. This article critically analyzes the implications and potential impact of Fidelity’s Ethereum ETF filing. Competing Filings Fidelity’s filing comes shortly after BlackRock, the
Regulation
The latest development in the world of spot Bitcoin ETFs has sparked discussions among industry insiders and analysts. Bloomberg analyst Eric Balchunas reported on November 17 that securities regulators are instructing spot Bitcoin ETF applicants to handle funds in a specific way. This article will analyze the potential impact of cash creates on spot Bitcoin
The proposed taxation scheme for digital assets has recently come under scrutiny from several American lawmakers. In a letter addressed to the U.S. Treasury, lawmakers expressed their concerns regarding the potential negative consequences of the proposed rules on innovation and the digital asset ecosystem. The letter emphasizes the lawmakers’ belief that the current rules are
The U.S. House Subcommittee on Digital Assets, Financial Technology, and Inclusion recently held a hearing to address the issue of crypto crime within the digital asset ecosystem. Experts from various fields, including blockchain technology, financial regulation, and law enforcement, provided their insights and testimonies. One crucial point of discussion was the potential underreporting of illicit
Crypto.com, a leading cryptocurrency exchange, has recently achieved a major milestone by securing a Virtual Assets Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA). This significant accomplishment was announced through Crypto.com’s entity CRO DAX Middle East FZE. While the exchange has obtained a partial VASP license, it must fulfill specific conditions
Ripple CEO Brad Garlinghouse recently expressed his dissatisfaction with the U.S. Securities and Exchange Commission’s (SEC) actions towards the cryptocurrency industry. He believes that the regulatory agency’s approach has failed in protecting investors and is stifling growth. Speaking at the Ripple Swell conference in Dubai, Garlinghouse questioned the SEC’s focus and raised concerns about who
The European Parliament recently announced its approval of the Data Act, a legislation that covers various aspects, including regulations for smart contract development. This article delves into the potential implications of the Data Act on the blockchain sector, as well as the concerns raised by industry members. With a majority vote of 481 in favor
In a recent interview with Bloomberg, Grayscale CEO Michael Sonnenshein shared the latest developments regarding the company’s proposed spot Bitcoin ETF. Grayscale has expressed its intentions to convert its existing Grayscale BTC (GBTC) fund into an ETF, and Sonnenshein provided insights into the current interactions with regulators. Sonnenshein emphasized that Grayscale has been diligently working
In recent news, Michael Barr, vice chair for supervision at the U.S. Federal Reserve, has called for strong federal regulation of stablecoins. His statement reflects the growing concern over these digital assets and the need to ensure that issuers and wallets are subject to appropriate oversight. Barr emphasized the importance of the Federal Reserve’s ability
The U.S. Security and Exchange Commission (SEC) has found itself in a challenging position when it comes to recruiting experts in the field of cryptocurrency. This problem, as outlined in a recent agency document titled “The Inspector General’s Statement on the SEC’s Management and Performance Challenges,” can be attributed in part to the SEC’s own
