The Bank for International Settlements (BIS) has recently released a comprehensive report that raises concerns about the future of the metaverse and the potential dominance of private corporations within this emerging digital ecosystem. The report highlights the need for strategic oversight, equitable access, data privacy, and consumer protections to ensure the metaverse’s promise of revolutionizing
Regulation
The journey toward the establishment of spot Ethereum exchange-traded funds (ETFs) has seen an interesting development with Ark Invest and 21Shares recently amending their joint application in a Feb. 7 S-1 filing. This article explores the implications of this amendment and delves into various factors that may impact the approval process of spot Ethereum ETFs.
Grayscale CEO Michael Sonnenshein has made a compelling case for regulators to approve spot Bitcoin exchange-traded fund (ETF) options. In a statement on Feb. 5, Sonnenshein emphasized the need for a robust listed options market for spot Bitcoin ETFs. He pointed out that while Grayscale Bitcoin Trust (GBTC) has been available in the public market
The South Korean Financial Services Commission (FSC) has recently announced significant legislative amendments to enhance the regulations surrounding virtual asset business operators. These measures aim to increase accountability and responsibilities for crypto executives operating in the rapidly evolving virtual asset sector. Tightening Management Requirements One of the core changes introduced in the amended legislation is
The approval process for spot Bitcoin exchange-traded fund (ETF) options may face significant delays and regulatory challenges, according to industry experts. With the need for approval from both the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), the timeline for regulatory clearance could extend for several months. MarketVector Indexes’ digital
In a recent post on X, Coinbase CLO Paul Grewal expressed his dissatisfaction with the minimalistic legal filing from the U.S. Securities and Exchange Commission (SEC) regarding their decision to reject Coinbase’s petition for digital assets rules. Grewal urged readers to examine the administrative record to assess its completeness and adequacy. This article critically analyzes
The European Securities and Markets Authority (ESMA) announced on Jan. 29 that EU-based crypto firms can provide services to non-EU customers in certain circumstances. However, this allowance, known as the reverse solicitation exemption, is limited and strictly an exemption, according to ESMA’s statement. It is important to note that this exemption does not enable companies
In a recent speech delivered in Naples, CFTC Chair Rostin Behnam expressed significant concerns about the current state of cryptocurrency and digital asset regulation. He highlighted the challenges and regulatory gaps in this rapidly evolving industry and emphasized the need for comprehensive federal oversight. Regulatory Gaps and Challenges One central theme of Behnam’s address was
FOX Business reporter Eleanor Terrett recently shed light on the ongoing battle surrounding spot Ethereum ETF approvals. She revealed that there is a strong opposition within the U.S. Securities and Exchange Commission (SEC) towards approving a spot Ethereum ETF. Terrett attributed this information to an undisclosed source, leaving us to wonder whether this source is
The Internal Revenue Service (IRS) has recently reminded taxpayers about the necessity of reporting digital assets and the associated income. This new requirement applies to various forms of digital assets, including cryptocurrency, non-fungible tokens (NFTs), stablecoins, and convertible virtual currency. It is imperative that taxpayers understand and comply with this regulation, regardless of their involvement