Crypto futures and ETFs are knocking at the door: Law Decoded, Aug. 13–20.

Published

2 years ago

August 21, 2023

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Cryptocurrency exchange Coinbase has received approval from the United States National Futures Association to offer investments in crypto futures to eligible customers. The approval enables Coinbase to introduce Bitcoin (BTC) and Ether (ETH) futures contracts through its Commodity Futures Trading Commission-regulated derivatives exchange.

Meanwhile, citing sources familiar with the matter, The Wall Street Journal reported that the U.S. Securities and Exchange Commission (SEC) is likely to approve multiple applications for Ether futures exchange-traded funds (ETFs) simultaneously. So far, the SEC has not instructed the firms to withdraw their applications, unlike in 2021. This suggests the regulator won’t block the fund’s launch within a few weeks. The SEC’s decision on Bitcoin ETFs could also come in early 2024.

This could be why asset management firm Valkyrie has joined the list of companies filing for crypto ETFs. As per its application, the fund will not directly invest in Ether but will seek to purchase several ETH futures contracts. The ETF investment in Ether futures contracts will be limited to 8,000 contracts per month in compliance with position limits established by the Chicago Mercantile Exchange.

SEC is allowed to appeal in the Ripple case

U.S. Judge Analisa Torres has granted a request from the SEC to file a motion for leave to file an interlocutory appeal in its case against Ripple Labs. According to U.S. law, an interlocutory appeal occurs when a ruling by a trial court is appealed while other aspects of the case are still proceeding.

The decision came just a few hours after Ripple Labs voiced opposition to a potential appeal in the case. Ripple’s lawyers argued that an appeal requires a pure question of law and that the SEC’s request raises no new legal issues needing review. They also insisted that the regulator’s claim of an incorrect court ruling is insufficient and that an immediate appeal will not advance the termination litigation proceedings.

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Singapore gets its regulatory framework for stablecoins

Singapore’s central bank has released a revised regulatory framework to ensure stability for single-currency stablecoins regulated in the city-state. The framework outlines several requirements for stablecoin issuers, including redemption timelines, disclosures, reserve management and capital requirement. The Monetary Authority of Singapore noted only stablecoin issuers that fulfill the new framework’s requirements could apply to become MAS-regulated — a label the central banks says ensures they can be distinguished from non-regulated stablecoins by users.

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U.S. House Democratic coalition creates AI working group

Democrats from the U.S. House of Representatives have formed a working group on artificial intelligence to introduce new legislation around the nascent artificial intelligence (AI) tech sector. The 97-member New Democrat Coalition promises its unit to work with President Joe Biden’s administration, stakeholders and lawmakers from both sides of the political arena to develop “sensible, bipartisan policies to address this emerging technology.” According to Representative Derek Kilmer, who will serve as chair of the working group, its primary focus will be to crack down on the spread of misinformation and air concerns about advanced AI-generated deepfakes becoming increasingly prevalent online.

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Politics

Twenty warnings for Sir Keir Starmer from new deputy leader Lucy Powell

Published

3 hours ago

October 25, 2025

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Twenty warnings for Sir Keir Starmer from new deputy leader Lucy Powell

Labour’s new deputy leader Lucy Powell promised to be Sir Keir Starmer’s ally.

Yet in her victory speech she criticised his government and its record no fewer than 20 times. And told him to raise his game, or else.

Politics live: Follow for updates as Labour names new deputy leader

Here’s what she said – and what she meant:

“Division and hate are on the rise. Discontent and disillusionment widespread.” What she meant: The Labour government has been a huge disappointment.
“The desire for change is impatient and palpable.” What she meant: You’ve had 16 months to deliver change – voters are saying, “Get on with it”.
“We have to offer hope, to offer the big change the country’s crying out for.” What she meant: Stop tinkering. Get more radical. You’ve got a huge Commons majority, after all.
“We must give a stronger sense of purpose, whose side we’re on and of our Labour values and beliefs.” What she meant: We’re not doing enough for working people or tackling inequality.
“People feel that this government is not being bold enough in delivering the kind of change we promised.” What she meant: Our voters are deserting us because they don’t see change.
“I’ll be a champion for all Labour values and boldness in everything we do.” What she meant: Watch out! I’m going to hound you and hold your feet to the fire!
“We won’t win by trying to out-Reform Reform, but by building a broad progressive consensus.” What she meant: Stop the lurch to the Right on immigration. We’re better than that.
“It starts with wrestling back the political megaphone and setting the agenda more strongly.” What she meant: We need to sharpen up our communication and selling our message.
“We’ve let Farage and his ilk run away with it.” What she meant: The Reform UK leader is running rings round us in communicating and campaigning. We’re too sluggish and flat-footed.
“For too long the country and the economy has worked in the interests of the few and not the many.” What she meant: Winter fuel payment cuts were a disaster and the two-child benefit cap has to go.
“Trickle down economics hasn’t worked.” What she meant: No more tax cuts for the rich. It’s time for a wealth tax, for example, to redistribute wealth.
“Life has just got harder and harder, less and less secure in work, in housing, in making ends meet.” What she meant: We’re failing to tackle the cost of living crisis and housing shortages.
“The deep-seated inequalities that have widened in wealth in regions in class in health need fundamentally redressing.” What she meant: We’re failing to look after our “red wall” voters.
“Re-unite our voter coalition and re-unite the country.” What she meant: Start governing for everyone, urban and rural, rich and poor, North and South. Stop neglecting poorer regions.
“We need to step up.” What she meant: For goodness sake, sort out the chaos in 10 Downing. Stop blaming aides and civil servants and sacking them. Get a grip!
Members and affiliates “don’t feel part of the conversation or party of the movement right now. And we have to change that.” What she meant: Stop ignoring and alienating activists, MPs and unions.
“Unity and loyalty comes from collective purpose, not from command and control.” What she meant: Stop the control freakery in parliament and party management. It’ll backfire.
“Debating, listening and hearing is not dissent. It’s all strength.” What she meant: Listen to your backbenchers and stop suspending them when they vote against policies like welfare cuts.
“As your deputy, my commitment is to change the culture.” What she meant: I’m going to stand up for rebels and critics and force you to ditch the control freakery and bad decisions.
“At the election 16 months ago the British people voted for change. I’m here to do everything I can to make that change a reality.” What she meant: Raise your game, or else!

She said it all with a smile, but there was menace there.

As deputy leader, Lucy Powell was always going to be a critical friend. So there you go, prime minister. Here’s 20 things you need to do for her to be more friend than critic.