Grayscale’s GBTC ‘spin-off’ Bitcoin Mini Trust goes live on NYSE Arca
After launching its spot Bitcoin ETF in January 2024, Grayscale now diversifies its offering with a “spin-off” spot Bitcoin ETP.
After launching its spot Bitcoin ETF in January 2024, Grayscale now diversifies its offering with a “spin-off” spot Bitcoin ETP.
The Wisconsin Department of Financial Institutions is launching a new scam tracker based on consumer complaints to protect investors from crypto and investment fraud.
Mainland China quickly and effectively addresses crypto fraud incidents despite banning crypto transactions a few years ago.
The Law Commission’s final report advocates for legal reforms to better protect the unique features of digital assets.
Many crypto observers may be “overreading” the security regulator’s latest filing for its Binance lawsuit, meaning Solana and other tokens may not be off the hook yet.
According to Odaily, the Bahamas Securities Commission has announced that the Bahamian Parliament has passed the Digital Assets and Registered Exchanges Act (DARE 2024). This legislative move strengthens the country's position in the realm of digital asset regulation. Building on the foundation laid by the 2020 DARE Act, the new law introduces comprehensive reforms aimed at addressing the evolving landscape of digital assets and cryptocurrency markets.Christina Rolle, Executive Director of the Bahamas Securities Commission, stated, 'DARE 2024 represents a new standard in digital asset regulation. The framework we have created not only focuses on investor protection but also encourages responsible innovation, positioning the Bahamas at the forefront of global digital asset regulation.'
According to Odaily, the U.S. Securities and Exchange Commission (SEC) has launched an information page specifically for investors affected by Terraform Labs. The SEC stated that since the settlement agreement was reached last month, investors have been inquiring about the compensation process. The SEC clarified on its webpage that it will not receive any compensation until investors and creditors have received their full bankruptcy case payouts. The SEC added that the Chapter 11 plan confirmation hearing and start date are expected to take place in the fall.Previously, it was reported that Terraform Labs agreed to pay $4.47 billion as part of the settlement agreement with the SEC. The company will pay $3.58 billion in illicit gains and $420 million in civil penalties. The settlement terms also prohibit its co-founder, Do Kwon, from serving as an executive or director of any public company.
According to Odaily, two NFT artists have filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) regarding the classification of NFTs as securities and the agency's jurisdiction over them. Law professor Brian Frye and Jonathan Mann, known for his 'Song a Day Mann' series, initiated the legal action on Monday in the U.S. District Court for the Eastern District of Louisiana against the SEC and its five commissioners. The artists' attorneys accuse the SEC of launching a 'jurisdictional grab' and argue that categorizing NFTs as securities is absurd, using Taylor Swift concert tickets as an example to illustrate their point. The lawsuit also references two recent cases the SEC has brought against NFTs.
According to Odaily, the United States Senate has postponed the vote on a cryptocurrency regulation bill this week. The bill may be revisited when lawmakers return to Washington in September. Senate Agriculture Committee Chair, Michigan Democrat Senator Debbie Stabenow, has been working on the bill and planned to hold a markup hearing on Wednesday. However, she did not secure the support of the committee's top Republican, Arkansas Senator John Boozman.Cody Carbone, Chief Policy Officer of the Digital Chamber, stated in a release, 'As industry leaders and committee members continue to provide feedback to Senator Stabenow's team, the bill has undergone multiple iterations. It appears that the review of the bill will be delayed until after the August recess to achieve more consensus. Senator Stabenow continues to engage with stakeholders to solicit feedback, which is positive.A statement from Stabenow's office, obtained by Politico reporters, indicated that she is collaborating with the Senate Banking Committee to draft the bill and emphasized the need for a Republican senator to 'step up.'
According to Foresight News, law professor Brian Frye and Jonathan Mann, the creator of 'Song a Day Mann,' have filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) and its five commissioners. The lawsuit was submitted to the U.S. District Court for the Eastern District of Louisiana on Monday. The plaintiffs' attorneys accuse the SEC of launching a campaign to assert jurisdiction over the sale of digital artworks, using examples such as Taylor Swift concert tickets and referencing two recent NFT-related cases by the agency. Both companies involved in these cases are preparing NFT projects and are seeking a court ruling on the matter. The SEC has declined to comment on the lawsuit. Ashley Ebersole, Chief Legal Officer at 0x Labs and a former SEC attorney, noted that previous SEC enforcement actions regarding NFTs have been settled, leaving courts with limited opportunities to determine whether NFTs qualify as securities.