SEC Sets Deadline for ETF Applications
The SEC has set a deadline for cryptocurrency firms that have applied for ETFs to make any necessary changes to their proposals. This indicates that the SEC is ready to make a decision on the applications.
Bitcoin
The Indonesian police have shut down ten mining operations and confiscated over 1,300 Bitcoin machines, along with other equipment. The business intelligence firm MicroStrategy, led by Michael Saylor, has acquired an additional 14,620 BTC for $615.7 million. Bitcoin withdrawals have been temporarily halted by cryptocurrency exchange Bitzlato.
Ethereum
A crypto portfolio believed to belong to Donald Trump has sold over 1,000 ETH in the past three weeks. The total value of the sold ETH is estimated to be around $2.4 million.
Technology
The LayerZero interoperability protocol is integrating with the Shimmer Network to enhance cross-chain communications and improve DeFi on IOTA’s ShimmerEVM.
Business
The cryptocurrency investment firm Grayscale has announced board member resignations amid discussions with the SEC regarding the conversion of the Grayscale Bitcoin Trust into a spot Bitcoin ETF. Tether has minted 1 billion USDT to enhance liquidity and facilitate future issuance.
Security
The Thunder Terminal platform, which was attacked for $240,000 worth of funds, claims that the funds are secure. The defunct crypto exchange Mt. Gox is finally repaying its creditors after ten years of non-operation.
Regulation
The SEC has given a deadline for crypto firms applying for spot BTC ETFs to file any necessary changes to their proposals.
Opinion
JPMorgan Chase’s involvement in BlackRock’s spot Bitcoin ETF has sparked criticism due to CEO Jamie Dimon’s anti-crypto stance. The anticipation of a spot Bitcoin ETF announcement has generated excitement, but there are concerns about a potential market sell-off. The effectiveness of the SEC’s regulatory approach has come into question, and some hope for a change in leadership in 2024.
Hot Take: SEC Prepares for ETF Decisions
The SEC’s recent actions, including setting a deadline for ETF applications and examining the conversion of the Grayscale Bitcoin Trust into an ETF, indicate that the regulatory landscape for cryptocurrencies is evolving. Investors and industry experts are eagerly awaiting the SEC’s decision on the ETF applications, as it could have significant implications for the market. Meanwhile, the involvement of major financial institutions like JPMorgan Chase in the crypto space highlights the growing acceptance of digital assets. However, concerns about market volatility and regulatory uncertainty remain. As we enter 2024, the crypto community will closely observe the SEC’s actions and their impact on the future of the industry.
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