Browsing:SEC

The SEC of the United States is expected to issue a positive signal regarding the approval of spot Bitcoin exchange-traded funds (ETFs).
4 months ago 1 min read

SEC May Signal Approval for Bitcoin ETFs, Paving the Way for Launches by January 10

The Securities and Exchange Commission (SEC) of the United States is expected to issue a positive signal regarding the approval of spot Bitcoin exchange-traded funds (ETFs). This development may pave the way for several asset management firms, such as Ark Investments, 21Shares, Valkyrie, and others, to launch ETFs as early as January 10. The possibility of approval has sparked excitement in the crypto industry, with experts predicting increased institutional investor participation. According to industry experts, the SEC may soon notify asset managers of the approval of spot Bitcoin ETFs. Notably, several firms, including Ark Investments and 21Shares, submitted proposals before

The SEC of the United States has delayed its decision on the Hashdex Nasdaq Ethereum ETF.
4 months ago 1 min read

SEC Delays Decision on Hashdex Nasdaq Ethereum ETF, Creating Investor Uncertainty

The Securities and Exchange Commission (SEC) of the United States has delayed its decision on the Hashdex Nasdaq Ethereum ETF. This delay, which comes after the filing was made available for public comment in October 2023, has created uncertainty among investors who are eagerly awaiting the approval of an Ethereum ETF. The delay not only affects Hashdex, but it also has implications for other crypto firms such as VanEck and ARK Invest. Investors hoped that an Ethereum ETF would provide a link between traditional finance and the cryptocurrency market, but the SEC’s hesitation has added uncertainty. The Hashdex Nasdaq Ethereum

Binance Faces Ongoing SEC Investigation Despite Settlement and Leadership Changes
5 months ago 1 min read

Binance Faces Ongoing SEC Investigation Despite Settlement and Leadership Changes

Despite Binance’s CEO resigning and a hefty $4 billion settlement, the US Securities and Exchange Commission (SEC) continues its probe into whether BinanceUS, akin to FTX, had unauthorized control over customer assets, according to a recent Wall Street Journal report. The SEC filed a lawsuit in June, alleging Binance and BinanceUS sold unregistered securities, engaging in fraud and violating laws, with suspicions of unlawfully handling customer funds. argues against the SEC’s investigation, citing financial strain and a significant user base decline. While Binance and its CEO have pleaded guilty to anti-money laundering violations in a $4.3 billion settlement, it doesn’t

The US Securities and Exchange Commission (SEC) has classified Polygon (MATIC) as a security
5 months ago 1 min read

The US SEC classifies Polygon (MATIC) as security Security

The US Securities and Exchange Commission (SEC) has classified Polygon (MATIC) as a security, casting a pall over the popular crypto. The SEC’s announcement came as part of a lawsuit against Kraken, accusing the exchange of violating securities laws by operating an unregistered securities exchange, broker, and clearing agency. Polygon, formerly known as MATIC, has been reclassified as a security by regulatory authorities. This echoes similar legal battles faced by other prominent exchanges. The announcement that Polygon has been designated as a security coincides with a significant drop in its market value. The cryptocurrency’s price has recently dropped significantly, and

BlackRock Takes Steps Toward Ethereum Investment with Spot ETF Filing
5 months ago 1 min read

BlackRock Submits Spot Ethereum ETF Filing to SEC

BlackRock, the largest asset manager globally, has officially submitted an application for a spot Ethereum exchange-traded fund (ETF) to the US Securities and Exchange Commission (SEC). The proposed ETF, named iShares Ethereum Trust, aims to track the overall performance of the price of ether, according to the Form S-1 filed by iShares on Wednesday. This filing comes a week after BlackRock registered the iShares Ethereum Trust entity with the Delaware Department of State Division of Corporations. Nasdaq also filed for the proposed ETF shortly afterward, confirming BlackRock’s involvement in developing a spot Ether ETF. For the custody of its proposed

Binance and US SEC Collaborate for Mutual Legal Defense Amid Ongoing Lawsuit
5 months ago 1 min read

Binance and US SEC Collaborate for Mutual Legal Defense Amid Ongoing Lawsuit

In the ongoing legal tussle between Binance and the U.S. Securities and Exchange Commission (SEC), both parties have jointly requested a protective order from the court. This move aims to maintain privacy around certain details, following disputes over document sharing and disagreements over the dismissal of the case. The decision to seek a protective order stems from a June 17 agreement intending to keep specific information confidential. The joint request proposes the replacement of any prior orders issued by Judge Jackson with the current protective order. This development comes in the wake of disagreements and challenges in communication between the

Binance's Defense Against SEC Lawsuit Dismissed
5 months ago 1 min read

The US SEC Rejects Binance’s Argument in Ongoing Legal Battle

The US Securities and Exchange Commission (SEC) has dismissed Binance’s attempt to end a lawsuit alleging the crypto exchange violated US securities laws. The SEC argues that Binance’s legal arguments are flawed and that the exchange willfully disregarded the law. In June 2023, the SEC filed a lawsuit against Binance and its founder, Changpeng Zhao, or CZ, accusing them of illegally selling investments without proper registration in the US. Binance denied the allegations and filed a motion to dismiss the lawsuit. In a filing dated November 7, the SEC rejected Binance’s defense, arguing that the exchange’s legal arguments were “unsupportable”

The Securities and Exchange Commission (SEC) aims to wrap up the legal battle with Do Kwon and Terraform Labs by seeking a summary judgment.
6 months ago 2 mins read

The US SEC Seeks Summary Judgment in Case Against Do Kwon and Terraform Labs

The Securities and Exchange Commission (SEC) aims to wrap up the legal battle with Do Kwon and Terraform Labs by seeking a summary judgment. In simpler terms, they’re asking the court to make a swift decision without the need for a full-blown trial. According to the SEC, there’s “no genuine dispute as to any material fact” in their case against the two. The core of the SEC’s argument revolves around whether Do Kwon and Terraform Labs sold securities. The SEC firmly believes they did, and here’s why: the money invested by purchasers, whether it was in traditional fiat currency or

SEC Accuses BlackRock of Inaccurate Reporting on Substantial Investments
6 months ago 1 min read

The US SEC Charges BlackRock $2.5 Million of Misreporting Reporting Investments

The SEC has charged BlackRock with failing to accurately report substantial investments made by a publicly traded fund that the firm advised. BlackRock has agreed to pay a $2.5 million penalty to settle the charges without admitting or denying the findings. The SEC’s order, released on October 24, reveals that between 2015 and 2019, BlackRock Multi-Sector Income Trust (BIT) inaccurately described its significant investments in Aviron Group, LLC. Aviron, a company involved in developing print and advertising plans for a limited number of films annually, played a substantial role in BIT’s portfolio. However, BlackRock reportedly categorized Aviron as a “Diversified

SEC Withdraws Lawsuit Against Ripple's Larsen and Garlinghouse
6 months ago 1 min read

The US SEC Drops Lawsuit Against Ripple’s Executives

The United States Securities and Exchange Commission (SEC) has dismissed its case against two of Ripple’s executives, Brad Garlinghouse and Chris Larsen. Brad Garlinghouse is the CEO, and Chris Larsen is the co-founder of the company. The SEC’s decision to drop the case against Garlinghouse and Larsen was announced in an official document. Former Federal Prosecutor James K Filan shared the excerpt from the document, which read, “the claims alleged by Plaintiff Securities and Exchange Commission against Defendants Bradley Garlinghouse and Christian A. Larsen are hereby dismissed in their entirety without costs or fees.” As a result, this means that

SEC Commences Proceedings to Assess Spot Bitcoin ETFs, Welcomes Public Comments
7 months ago 2 mins read

SEC Initiates Process to Decide the Future of Spot Bitcoin ETFs, Seeks Public Input

The U.S. Securities and Exchange Commission (SEC) has taken significant steps regarding spot Bitcoin exchange-traded funds (ETFs) in filings submitted on September 28. These filings set in motion proceedings that will help the SEC decide whether to approve or reject proposed rule changes, potentially allowing spot Bitcoin ETFs to trade on commodities exchanges. In these filings, the SEC is seeking input from the public on various matters. The first section primarily asks for opinions on whether proposed spot Bitcoin ETFs are susceptible to fraud and manipulation or if they can effectively prevent such issues. Another section asks for insights into

SEC Pushes Back Decision Date for ARK's Ethereum Spot ETF Application
7 months ago 1 min read

SEC Postpones Decision on ARK 21 Shares Ethereum Spot ETF Request

It has been reported that the US Securities and Exchange Commission (SEC) has decided to delay the approval process for the Ethereum Spot ETF application, which was submitted jointly by ARK Invest and 21Shares. This move by the SEC has surprised many in the ETF industry, including experts like James Seyffart from Bloomberg, who shared his thoughts on the situation. He expressed his surprise, saying, “Wow. We thought that was enough for today, but the SEC also postponed ARK Invest and 21Shares’ Ethereum application, which was only published on September 21 and will not be decided until early November. We

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