Connect with us

Published

on

Despite United States Representatives Mike Flood, Wiley Nickel, Tom Emmer and Ritchie Torres calling on the Securities and Exchange Commission (SEC) to immediately approve the listing of spot Bitcoin (BTC) exchange-traded funds (ETFs), the agency once again delayed its decision. 

When it comes to spot Ether (ETH) ETFs from VanEck and ARK 21Shares, the SEC delayed making decisions until Dec. 25 and Jan. 10, respectively, while GlobalX will have to wait until Nov. 21 for the commission’s decision. It also delayed deciding on the spot Bitcoin ETF applications of Invesco, Bitwise and Valkyrie until mid-January.

The latest delays came two weeks earlier than the scheduled second deadline date for many applicants, who had been expecting to hear from the securities regulator by Oct. 16–19. The timing of the delays may have been related to the narrowly avoided U.S. government shutdown, which would have disrupted the country’s financial regulators and other federal agencies.

Bitwise Asset Management reacted to the delay of its spot Bitcoin ETF with an amended application, responding to the SEC’s objections to the product. In its amended application, Bitwise engaged with what the SEC called “the ‘mixed’ or ‘inconclusive’ academic record” on the lead-lag relationship between BTC futures and spot markets.

Another Chinese court recognized Bitcoin as property 

The Shanghai No.2 Intermediate People’s Court in China has recognized Bitcoin as a unique and non-replicable digital asset while acknowledging its scarcity and inherent value. According to the court’s report, digital currencies such as Bitcoin stand out as unique and non-replicable internet technology products. The report states that among a sea of digital currencies, Bitcoin is different and unique from other digital assets. It has key currency features such as scalability, ease of circulation, storage and payment. 

Continue reading

Taiwan bans unregistered foreign crypto exchanges

Taiwan’s Financial Supervisory Commission (FSC) formulated the critical points for regulating Taiwan’s cryptocurrency market, releasing industry guidelines for virtual asset service providers (VASP) operating in the country. In the guidelines, the authority mentioned standard industry-wide rules like separating exchange treasury assets from customer assets and reviewing mechanisms for listing and delisting virtual assets.

The FSC also required foreign VASPs to refrain from providing their services in Taiwan without obtaining necessary approvals from the regulator: Overseas virtual asset platform operators are not allowed to provide business within the territory of the country […] unless they have been registered in accordance with the law.”

Continue reading

Hong Kong will list “suspicious” crypto platforms

The Securities and Futures Commission (SFC) of Hong Kong will publish a list of all licensed, deemed licensed, closing down, and application-pending virtual asset trading platforms (VATPs) to better help members of the public identify potentially unregulated VATPs doing business in Hong Kong. The SFC said it will also keep a dedicated list of “suspicious VATPs,” featured in an easily accessible and prominent part of the regulators’ website.

The new rules come immediately after the ongoing JPEX crypto exchange scandal, an affair that local media outlets describe as one of the worst cases of financial fraud ever to hit the region. JPEX stands accused of promoting its services to Hong Kong residents despite not having applied for a license in the country.

Continue reading

Continue Reading

Politics

FTX creditors only getting ’10-25% of their crypto back’ — creditor

Published

on

By

<div>FTX creditors only getting '10-25% of their crypto back' — creditor</div>

Following the collapse of the FTX exchange, the FTT token collapsed by more than 80% and wiped away over $2 billion in customer value. 

Continue Reading

Politics

CZ walks free, Caroline Ellison receives prison sentence, and more: Hodler’s Digest, Sept. 22 – 28

Published

on

By

CZ walks free, Caroline Ellison receives prison sentence, and more: Hodler’s Digest, Sept. 22 – 28

Binance founder CZ walks free, former Alameda Research CEO Caroline Ellison sentenced to two years, and more: Hodlers Digest

Continue Reading

Politics

Canterbury MP Rosie Duffield quits Labour – criticising Sir Keir Starmer in resignation letter

Published

on

By

Canterbury MP Rosie Duffield quits Labour - criticising Sir Keir Starmer in resignation letter

Canterbury MP Rosie Duffield has resigned from the Labour Party.

The 53-year-old MP is the first to jump ship since the general election and in her resignation letter criticised the prime minister for accepting thousands of pounds worth of gifts.

She told Sir Keir Starmer the reason for leaving now is “the programme of policies you seem determined to stick to”, despite their unpopularity with the electorate and MPs.

In her letter she accused the prime minister and his top team of “sleaze, nepotism and apparent avarice” which are “off the scale”.

“I’m so ashamed of what you and your inner circle have done to tarnish and humiliate our once proud party,” she said.

Rosie Duffield. Pic: UK Parliament/Jessica Taylor/Handout via Reuters
Image:
Rosie Duffield. Pic: UK Parliament/Jessica Taylor/Handout via Reuters

Sir Keir has faced backlash after a Sky News report revealed he had received substantially more freebies than any other MP since becoming Labour leader.

Since December 2019, the prime minister received £107,145 in gifts, benefits, and hospitality – a specific category in parliament’s register of MPs’ interests.

More from Politics

Ms Duffield, who has previously clashed with the prime minister on gender issues, attacked the government for pursuing “cruel and unnecessary” policies as she resigned the Labour whip.

Read more:
The Westminster Accounts:
Check how much your MP has received

She criticised the decision to keep the two-child benefit cap and means-test the winter fuel payment, and accused the prime minister of “hypocrisy” over his acceptance of free gifts from donors.

“Since the change of government in July, the revelations of hypocrisy have been staggering and increasingly outrageous,” she said.

“I cannot put into words how angry I and my colleagues are at your total lack of understanding about how you have made us all appear.”

Ms Duffield also mentioned the recent “treatment of Diane Abbott”, who said she thought she had been barred from standing by Labour ahead of the general election, before Sir Keir said she would be allowed to defend her Hackney North and Stoke Newington seat for the party.

Her relationship with the Labour leadership has long been strained and her decision to quit the party comes after seven other Labour MPs were suspended for rebelling by voting for a motion calling for the two-child benefit cap to be abolished.

“Someone with far-above-average wealth choosing to keep the Conservatives’ two-child limit to benefit payments which entrenches children in poverty, while inexplicably accepting expensive personal gifts of designer suits and glasses costing more than most of those people can grasp – this is entirely undeserving of holding the title of Labour prime minister,” she said.

Ms Duffield said she will continue to represent her constituents as an independent MP, “guided by my core Labour values”.

Continue Reading

Trending