In a notable development in the cryptocurrency investment landscape, asset management firm 21Shares has submitted an application for a spot XRP Exchange-Traded Fund (ETF) to the U.S. Securities and Exchange Commission (SEC). This move, made on November 1, 2023, involves filing an S-1 form to register shares of its Core XRP Trust for potential listing
Regulation
In a move that highlights the intensifying scrutiny on the cryptocurrency sector, the U.S. Securities and Exchange Commission (SEC) recently issued a Wells notice to Immutable, a prominent blockchain gaming platform. This action is not merely an isolated incident but part of a broader crackdown on crypto companies as the U.S. approaches its election season.
The Blockchain Association, a prominent organization advocating for crypto and blockchain interests, has disclosed alarming financial figures regarding challenges faced by its member firms. According to the association, members have accrued over $400 million in legal costs due to enforcement actions initiated by the US Securities and Exchange Commission (SEC) under the leadership of Gary
In an era where technology shapes economic landscapes, the future of America’s financial architecture stands at a crossroads. Charles Cascarilla, the CEO and co-founder of Paxos, recently addressed this pivotal junction in an open letter directed toward Vice President Kamala Harris and former President Donald Trump. His message underscores a pressing need for the incoming
In a decisive effort to streamline cross-border transactions, the Bank for International Settlements (BIS) has engaged in a collaboration with several central banks, including those from Australia, Korea, Malaysia, and Singapore. Announced on October 28, this initiative—dubbed Project Mandala—serves as a significant innovation in addressing the regulatory complexities that often hamper international finance. The collaboration
As the digital currency landscape evolves, Hong Kong is stepping up its game. Financial Secretary Paul Chan has announced that the region is poised to issue more licenses for cryptocurrency exchanges by the end of this year. During the ongoing Hong Kong FinTech Week, Chan revealed that the Securities and Futures Commission (SFC) is diligently
In recent months, the conversation around Bitcoin regulation has shifted to the state level, spearheaded by the Satoshi Action Fund. This organization is pushing to establish protections for individuals who choose to self-custody their Bitcoin, mimicking the tactics that have helped the cannabis industry thrive despite ongoing federal prohibitions. By advocating for what they term
As cryptocurrencies continue to surge in popularity and evolve into a complicated financial landscape, regulatory institutions face the daunting task of ensuring market integrity while fostering innovation. One of the most vocal advocates for stringent regulation is Gary Gensler, the Chairman of the Securities and Exchange Commission (SEC). During his recent interview on Bloomberg Technology,
In recent years, the financial sector has witnessed an exponential interest in tokenization, the innovative process of transforming real-world assets (RWAs) into digital tokens. This concept promises enhanced transaction efficiency and reduced operational costs. As traditional banks and financial institutions delve deeper into this realm, they are eager to harness the benefits of tokenization, which
In a recent statement, Tether’s CEO Paolo Ardoino firmly denied rumors suggesting that the stablecoin issuer is facing an investigation in the United States. This denial arose following a report from the Wall Street Journal, which indicated that federal prosecutors in Manhattan might be probing the operations of Tether. Ardoino was quick to dismiss these
