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Policy

Bitwise Enters the Competition for a Solana Exchange-Traded Fund

Bitwise, a cryptocurrency investment firm, has taken a significant step towards launching a Solana exchange-traded fund (ETF) in the United States. The company filed paperwork with the Securities and Exchange Commission (SEC), becoming the fourth investment firm to pursue a Solana ETF, following Canary Capital, VanEck, and 21Shares. The move comes as expectations for the crypto industry are shift…

Nov. 21, 2024, 9:55 p.m.

Policy

US Regulator Suffers Setback in Crypto Lawsuit Over Dealer Definition

A federal court in Texas has invalidated a recent Securities and Exchange Commission rule that broadened the definition of a securities dealer to encompass a wider range of firms, including those in the cryptocurrency sector. This significant legal defeat for the SEC comes on the same day its Chairman, Gary Gensler, announced his departure in January. In response to a lawsuit filed by the Blockch…

Nov. 21, 2024, 6:49 p.m.

Policy

SEC Chair Gary Gensler to Step Down as Trump Takes Office

Gary Gensler, the U.S. Securities and Exchange Commission Chair and a frequent critic of the cryptocurrency industry, has announced that he will be departing the agency on the day Donald Trump is inaugurated as president in January. This move means he will not only be stepping down as the head of the main U.S. securities regulator but also leaving his position as a commissioner, thereby relinquis…

Nov. 21, 2024, 6 p.m.

Policy

SEC Returns $4.6M to Investors of Defunct Crypto Project BitClave

Investors in the now-defunct cryptocurrency startup BitClave are set to receive refunds, including interest, as announced by the U.S. Securities and Exchange Commission (SEC) on Wednesday. The SEC stated that the BitClave Fair Fund has paid out a total of $4.6 million to eligible investors who took part in BitClave's 2017 initial coin offering (ICO), which raised $25.5 million from thousands of i…

Nov. 20, 2024, 9:35 p.m.

Policy

Gary Wang, Ex-FTX CTO, Spared Jail Time Following Cooperation in Bankman-Fried Case

According to a report by The New York Times, Gary Wang, the former Chief Technology Officer of FTX and a close associate of Sam Bankman-Fried, will not face imprisonment for his role in the cryptocurrency exchange's fraudulent activities. Wang had pleaded guilty to four counts of criminal charges in December 2022, including wire fraud and conspiracy to commit securities and commodities fraud. His…

Nov. 20, 2024, 4:38 p.m.

Policy

Nuclear Power and Bitcoin Mining: A Harmonious Partnership

Following the recent Republican electoral gains and the potential for federal policies to drive further adoption, bitcoin reached a new all-time high above $90,000. As the regulatory landscape in Washington takes center stage, Wall Street is noticing the growing appeal of mining operations. Just as higher commodity prices and lower production costs boost margins for traditional producers, higher …

Nov. 20, 2024, 4:13 p.m.

Policy

Trump Reportedly Considers Crypto Expert Teresa Goody Guillén to Head SEC

According to sources, Teresa Goody Guillén, a veteran of the U.S. Securities and Exchange Commission, is being considered by President-elect Donald Trump to lead the agency. As a partner at BakerHostetler and co-lead of its blockchain practice, Goody Guillén has experience serving the SEC and representing blockchain companies, making her a strong candidate to head the regulator. Crypto companies …

Nov. 19, 2024, 10:26 p.m.

Policy

Gemini Crypto Exchange Launches in France Ahead of EU's MiCA Regulations

The Gemini cryptocurrency exchange has expanded its services to France, just weeks before the European Union's Markets in Crypto Assets regulations come into effect. This move marks the beginning of Gemini's expansion into the 27-nation EU trading bloc. Institutions and users in France, the EU's second-largest economy, can now create a Gemini account to deposit, trade, and store digital assets. T…

Nov. 19, 2024, 7:30 a.m.

Policy

California Judge Rejects Kraken's Bid for Early Appeal

A California judge has turned down Kraken's request for an interlocutory appeal, stating that allowing such an appeal would only serve to prolong the resolution of the ongoing case brought by the U.S. Securities and Exchange Commission (SEC) against the cryptocurrency exchange. Kraken, the second-largest crypto exchange in the U.S., had filed the motion for interlocutory appeal in September, foll…

Nov. 18, 2024, 10:16 p.m.

Policy

Experts Weigh In on the Feasibility of a US Bitcoin Reserve Without Congressional Approval

The establishment of a US bitcoin reserve hinges on the interpretation of the term 'reserve'. Would the government merely halt the sale of its existing bitcoin holdings, as promised by former President Donald Trump, or would it actively acquire more, as advocated by Senator Cynthia Lummis and Trump ally Robert F. Kennedy? The government currently possesses over 208,000 bitcoin, valued at more tha…

Nov. 18, 2024, 8:39 p.m.