The right to a self-hosted wallet? Crypto laws Congress should pass in 2024
From amending the definition of "legal tender" to codifying a right to own self-hosted wallets, there is a lot of action Congress could take on crypto in 2024.
From amending the definition of "legal tender" to codifying a right to own self-hosted wallets, there is a lot of action Congress could take on crypto in 2024.
The SEC has not decided on multiple pending spot Bitcoin ETF applications, with many in the space split on how the commission will handle the investment vehicle.
Gold bug Peter Schiff warned that spot Bitcoin ETF approval could collapse the BTC market, while Matrixport says SEC greenlight is unlikely before Q2 despite general optimism.
A situation where a spot Bitcoin ETF issuer fakes the underlying BTC volumes is hypothetically possible in case an issuer violates the rules, Samson Mow said.
Bloomberg ETF analyst Eric Balchunas has issued an analysis of Grayscale's recently submitted prospectus. The document explicitly confirms Grayscale's cash-only acceptance for its fund, a stipulation met with no surprise given the firm's market position. Nevertheless, Balchunas noted the absence of any named authorized participants (AP) in the prospectus, a section that the Securities and Exchange Commission (SEC) typically expects to be completed. He expressed uncertainty over this omission, especially as Grayscale has previously appeared confident about this aspect of their fund. In addition, he highlighted another possible area of concern - the document's apparent lack of information regarding fees, another significant element that hasn’t been thoroughly addressed as per his observation. These details, or the lack thereof, leave open questions about the true structure and operation of Grayscale's proposed fund.
James Seyffart, a Bloomberg ETF analyst, informed via the X platform that Grayscale had submitted a third revised version of their S-3 registration statement. The update notably includes added material connected to the trust's third-party relationships. Seyffart commented that, at first glance, the amendment seemed to primarily add proofs related to these relations without too many other specifics. Earlier, Grayscale Bitcoin Trust (GBTC) had submitted a registration statement, including a prospectus, to the U.S. Securities and Exchange under U.S. Securities Law 163/433. Subsequently, they proceeded to file an amended S-3 registration document again. Seyffart noted this latest document as Amendment #3 to their ongoing efforts to convert $GBTC into a Bitcoin ETF.
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According to Coin Center executive director Jerry Brito, it’s “unclear how one can comply” with the crypto tax reporting guidelines in 2024.
A poll of 454 voters in December 2023 showed “significant ticket-splitting” among Republican and Democratic candidates for U.S. president and Congress in 2024.
Users must complete a series of risk assessment questionnaires before they can begin trading.