Galaxy Digital submits Bitcoin ETF application with SEC

Galaxy Digital has submitted a Bitcoin (BTC) exchange-traded fu filing with the United States Securities and Exchange Commission. According to the form S-1 published by the SEC on Monday, the Galaxy Bitcoin ETF — if approved — will trade on the NYSE Arca exchange, with the Bloomberg Galaxy Bitcoin index tapped as the pricing mechanism. Detailing the price mechanism for the prospective Bitcoin ETF, the filing reads: “The end-of-day Index price is calculated using the Bloomberg Crypto Price Fixings (‘CFIX’) mid-price for bitcoin. CFIX is based on pricing provided by…

SEC Blocked From Seeing Ripple Execs’ Personal Bank Records

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may…

SEC approves Exodus wallet for Regulation A stock offering

Crypto wallet provider Exodus recently received the green light from the United States Securities and Exchange Commission, or SEC, to sell shares of its operation.  According to a public statement from Exodus on Thursday: “Exodus Movement, Inc., a Delaware corporation that has developed a leading non-custodial cryptocurrency software platform, received notice that the Securities and Exchange Commission has qualified its offering of Class A common stock under Regulation A.” The shares hit the market last night in the U.S., and are available through the wallet itself. For many years Exodus…

SEC Disagreement Emerges on Whether Ethereum Is a Security

Key Takeaways SEC Chairman Gary Gensler has repeatedly alluded that Bitcoin is a commodity. But his comments on Ethereum date back to 2018 when he said it is a non-compliant security. Until an official statement by the financial watchdog is released, a senior counsel at the SEC recommends that investors take a note of caution. Share this article Regulators in the U.S. have yet to offer clarity around the legality of Bitcoin and Ethereum. Although the former has been unofficially deemed a commodity, the latter could fall in line with…

New petition asks SEC chair nominee Gary Gensler to drop Ripple lawsuit

The Ripple community has launched a new petition to “stop the war” on XRP. Crypto & Policy founder Thomas Hodge has started a Change.org petition directed at Securities and Exchange Commission chair nominee Gary Gensler, asking him to end the SEC’s lawsuit against Ripple once he’s confirmed as chairman of the commission. Announcing the news Wednesday, Crypto & Policy called on Gensler to investigate the potential motives of former SEC chair Jay Clayton and his SEC Director of Corporate Finance William Hinman for “favoring” Bitcoin (BTC) and Ether (ETH) while harming…

SEC likely to approve Bitcoin ETF in 1-2 years, says analyst

According to an analyst at CFRA Research, VanEck, Fidelity Investments, and Valkyrie Digital Assets may not see their Bitcoin exchange-traded funds, or ETFs, approved by U.S. regulators for up to two years. In an interview on CNBC’s ETF Edge Monday, Todd Rosenbluth, head of ETF and mutual fund research at CFRA, told host Bob Pisani that he believed the U.S. Securities and Exchange Commission, or SEC, would extend the timeline for considering the Bitcoin ETF first pitched by investment management firm VanEck in January. The SEC officially acknowledged receipt of…

Access to SEC Documents Will Aid Ripple’s Defense

The judge presiding over the SEC’s case against Ripple has ordered the regulator to share documents. Those documents will reveal the SEC’s stance on which cryptocurrencies are considered securities. Ripple Gains Access to SEC Docs In December 2020, the U.S. Securities and Exchange Commission (SEC) filed a legal complaint alleging that Ripple and its executives raised over $1.3 billion by selling XRP as unregistered securities. In an update to the ongoing lawsuit, U.S. Magistrate Judge Sarah Netburn ruled that the SEC must share all official documents that express the regulator’s…

XRP Targets New All-Time Highs After Surviving SEC Slaughter

XRP is now trading at $1 or more, even despite the parent company Ripple still being locked in a legal battle with the United States Securities and Exchange Commission. Not only does the recent pump prove the power of borderless cryptocurrencies, but it takes the token to a key technical level that if broken, should target a new all-time high well above the former peak at more than $3 each. XRP Pumps Beyond $1, But Could Climb To New All-Time Highs Investors in the United States are likely livid right…

Ripple wins access to SEC discussions on defining crypto assets as securities

Ripple Labs has been granted access to U.S. Securities and Exchange Commission documents “expressing the agency’s interpretation or views” on the subject of crypto assets. According to Law360, U.S. Magistrate Judge Sarah Netburn granted the defendants’ motion “in large part,” determining that SEC minutes or memos concerning crypto are likely discoverable. Netburn asserted staff-to-staff email communications do not need to be produced. Netburn also allowed for the SEC and Ripple to raise disputes with the ruling. In December, the SEC filed a lawsuit alleging Ripple Labs, its CEO Brad Garlinghouse,…

Paxos applies for clearing license with SEC following successful pilot tests

Paxos, a United States-based stablecoin operator, announced Tuesday that it will apply for a formal clearing agency license with the Securities and Exchange Commission, or SEC, in a move that would bring another practical use case for blockchain technology in traditional markets.  As Reuters reported, the pursuit of an agency license by Paxos follows a successful pilot test of its same-day settlement system. Credit Suisse, a Zurich-based financial institution, and Instinet, the trading arm of Nomura Holdings Inc., participated in the pilot by settling U.S.-listed stock trades on the same…