Anthony Scaramucci predicted Bitcoin to reach $170,000 by 2025

Quotes of the first cryptocurrency will exceed $170,000 next year. Anthony Scaramucci, founder of SkyBridge Capital, said this in Davos, writes Reuters.

“If Bitcoin is at $45,000 at the time of the halving, which is where it is now, then the asset will reach $170,000 by mid-to-late 2025. […] Wherever the price was on the halving day in April, multiply it by four - Bitcoin will reach this level in the next 18 months,” the specialist noted.
According to him, the recent fall in digital gold prices below $42,000 is due to the transfer of investor assets from GBTC to new exchange-traded funds approved by the SEC.

Scaramucci is confident that the market will need another eight to 10 trading days to reflect the impact of new instruments on the price of the first cryptocurrency.

#SEC #secNews #BitcoinPrice2024 #BitcoinWorld #BTCUSD
$BTC

Bloomberg analyst James Seyffart: The US is preparing permission to trade options on Bitcoin ETFs

James Seyffart announced on his X (formerly Twitter (NYSE:TWTR)) page that the US agency has already accepted Form 19b-4 applications for the ability to trade such options.

According to the analyst, the options could be approved in February if the Commission itself wants to speed up the adoption process. To be more precise, says James Seyffarth, approval of the options could take place between February 15 and September 21 of this year.

On January 11, the SEC approved all 11 applications for spot Bitcoin ETFs. The trading volume of shares of these exchange-traded funds already reached $4.5 billion on January 12.
#SEC #secNews #BitcoinWorld #etf #BTCETF
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The SEC announced the need to soften the approach to cryptocurrencies

The US financial system needs greater decentralization. The SEC's regulation and enforcement of digital assets requires relaxation, Commissioner Hester Pierce said during the ETH Denver conference.

“Centralization means that your risks are concentrated. Decentralization can bring stability and strength to the financial system,” said Pearce.

The official expressed concern about the bill being discussed, which is aimed at giving institutional status to nodes, validators, non-custodial wallets, mining pools and software.

Pierce also commented on the agency’s position on expanding the dealer rule to the DeFi sector:
“The whole concept of decentralization is very different from what we are used to at the SEC. When someone on the team interacts with the code and not with the person or entity, it becomes a real problem for the Commission.”

According to her, the regulator’s task is to determine the scope of existing powers and help investors obtain information about securities to make their own decisions.
#SEC #secNews #SECvsCrypto #Write2Earn #TrendingTopic
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Under Gensler, the SEC's Crypto Enforcement Actions Jumped 50%

The US Securities and Exchange Commission (SEC) enforcement actions hit record highs in 2022. Under the chairmanship of Gary Gensler, these have more than doubled

According to the data from consulting firm Cornerstone, the number of SEC lawsuits against crypto companies topped at 46 last year. A year earlier, the figure stood at 30

As per the report, the most common allegations remained fraud and offering unregistered securities. They accounted for 57% and 61% of all enforcement actions, respectively. Another 37% cases involved both.

Additionally, 37 out of the 46 cases were also tied to initial coin offerings (ICOs). In 2022, the SEC also filed its first two lawsuits against non-fungible token (NFT) projects.
#SEC #secNews #SECvsCrypto
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The blogger named the reasons why American banks did not integrate XRP

Ripple CEO Brad Garlinghouse has hinted at possible adoption of XRP by US banks in the future. Recently, Ben Armstrong, a well-known voice in the blockchain industry, said that the adoption of this token by American banks could be “the key to the success of XRP.”

Difficult times for Ripple began in 2020, when the US Securities and Exchange Commission (SEC) sued the company. Regulators accused Ripple and its executives of allegedly raising “more than $1.3 billion through an unregistered offering of tokenized securities.”

Ripple initially planned to achieve greater adoption of XRP, and litigation has become a major obstacle to achieving these goals. In 2023, a New York court ruled that XRP is not a security, making it the only token with a defined legal status. According to Ben Armstrong, Ripple's victory over the SEC indicates that they are one step closer to realizing their vision.

#secNews #SEC #RippleVsSEC #Ripple-XRP #XRP/USDT
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Morgan Creek CEO did not see prospects for the imminent approval of spot Ethereum-ETFs

The SEC is unlikely to approve spot Ethereum ETFs in the near future, despite optimism following the approval of similar Bitcoin products in the US. Morgan Creek Capital CEO Mark Yusko said this in an interview with Cointelegraph.

Earlier, Bloomberg stock analyst Eric Balchunas said that with a 70% probability he expects approval of a number of applications for Ethereum funds in May.

However, Yusko did not agree with this assessment:

"I'd say it's less than 50/50."

In his opinion, the SEC is still quite hostile to cryptocurrencies. This was confirmed by the head of the department, Gary Gensler, in his speeches against the backdrop of the approval of Bitcoin funds, says co-founder of Morgan Creek.

Another obstacle Yusko sees is that the Commission may still consider Ethereum as a security. The department clearly classifies Bitcoin as a commodity.

The head of BlackRock, one of the potential issuers of a spot exchange-traded fund based on ether, Larry Fink, spoke about the “value” of such products from a tokenization point of view. However, he expressed doubt that digital assets will ever become currencies.

#SEC #secNews #Ethereum2024 #ETHUSDT #ETHUSD
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SEC and Binance exchange arguments about digital assets in court

On January 22, a hearing was held in the SEC case against the Binance crypto exchange. Both sides answered questions from the judge about the nature of digital assets.

The regulator filed a lawsuit against the trading platform and its ex-CEO Changpeng Zhao on June 5, 2023, bringing 13 charges, including the sale of unregistered securities. The department classified 12 tokens into this asset class, including BNB and the BUSD stablecoin.

#SEC #secNews #Binance​​

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Standard Chartered predicted an increase in the price of Ethereum to $4 thousand.

British bank Standard Chartered Bank predicts that the Securities and Exchange Commission (SEC) will approve spot ETFs on Ethereum in May, reports Bloomberg. Against this background, the price of the second cryptocurrency by capitalization may reach $4 thousand.

The bank believes the SEC will follow the same strategy it used in approving spot Bitcoin ETFs, first rejecting the applications and then, once the final approval deadline approaches, approving them on May 23. This date appears as the final approval date for applications from asset managers VanEck and ARK/21Shares.
#SEC #secNews #ETH2024 #ETHM #Ethereum
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Former CFTC Commissioner Brian Quintenz: "SEC Creates Regulatory Confusion"

Brian Quintenz called the US Securities and Exchange Commission's (SEC) approach to ether illegal. He explained that the regulator had previously approved ether futures ETFs, thereby implicitly recognizing that ether is not a security. Therefore, the department cannot extend its powers to this altcoin, says Quintenz.

According to him, the approval of ether futures ETFs after the Ethereum network switched to the new Proof-of-Stake algorithm suggests that the SEC did not consider ether a security. If the agency had any doubts about regulating airwaves, it would not have approved this investment product. It turns out that if ether is considered a security, then futures contracts regulated by the CFTC are illegal instruments.

“An asset is considered a commodity rather than a security if there is a CFTC-regulated futures or swap contract based on it,” Quintenz explained.
#SEC #secNews #CryptoNews #news

SEC delays decision on Fidelity's proposed spot Ethereum ETF until March

The US Securities and Exchange Commission (SEC) has delayed the deadline for a decision on investment firm Fidelity's application to create a spot Ethereum exchange-traded fund (ETF) until March 5. The regulator needs more time to review the documents and the issues raised in them. Fidelity sought permission to launch the Fidelity Ethereum Fund in November.

#SEC #secNews #ETF: #etf #ETH2024
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The court ordered Ripple to provide financial documents at the request of the SEC

The court ordered Ripple to provide additional information about its financial position in order to determine the amount of possible sanctions. The company must disclose reports and contracts for 2022-2023 for the sale of tokens to institutions, as well as respond to requests for relevant income

During the hearings, representatives of Ripple tried to prove that the financial position of the company does not matter for the issues under consideration. The court did not see any problems in disclosing “readily accessible data.” The court also agreed with the SEC's arguments that the requested information is important for making a fair decision.

Let's remember that lawyer Jeremy Hogan admitted that the case against Ripple could only be completed in 2027.
#Ripple #secNews #SEC #SECvsCrypto #XRPUSDT

Justin Sun: “The American regulator will not approve spot ETFs for ether in May”

According to Justin Sun, it is still too early for exchange-traded funds linked to ether. If these investment products hit the market, the situation will be unpredictable, because, according to Sun, regulators are still poorly aware of the principles of how cryptocurrencies work. It is misunderstanding of the industry by regulators that may be delaying the launch of Ether ETFs in the United States, Sun is convinced.

“I highly doubt the SEC will approve spot Ether ETFs in May. The crypto industry must be prepared for regulators to take a long look at the cryptocurrency space, and we must help them better understand digital assets. We were always ready to do this, weren’t we?” Sun wrote on the social network.

The SEC previously sued the Tron Foundation, alleging that the crypto assets TRX and BitTorrent (BTT) are unregistered securities. Two weeks ago, the regulator tried to convince the court that Justin Sun's too frequent trips around the United States could be a good reason to continue the legal battle.
#secNews #JustinSun #Ethereum #ETH #ETHUSD
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The SEC supported the request of the co-founder of the collapsed Terraform Labs (TFL), Do Kwon, to postpone the trial. Cointelegraph reports this with reference to court documents.

The commission said it was “fully ready, willing and able to proceed” with the trial against TFL and its head, but agreed the start date needed to be changed.

“The SEC joins Kwon's request for a short delay so that he can participate in the trial. If the trial date is postponed, the agency respectfully requests that the trial date be set for April 15, 2024,” the document states.
On January 11, the co-founder of TFL asked the US court to postpone the trial because he wanted to attend it in person, but could not do so due to the delay in extradition.

Despite the SEC's agreement with the postponement, the agency opposed the separation of the Kwon and Terraform Labs case. In February 2023, the Commission brought charges against both parties in the same proceeding.
#SEC #secNews #tfl #tera

Uniswap: If the SEC starts legal proceedings, we will win

In April, the US Securities and Exchange Commission (SEC) announced plans to sue decentralized platform Uniswap Labs for illegally trading securities through its Ethereum-based Automatic Market Making (AMM) protocol. At the same time, the site received a “Wells Notice,” which often precedes official charges from the regulator.

In response, Uniswap stated that it does not fit the definition of a crypto exchange. In addition, about 65% of the platform’s trading volume comes from Bitcoin, Ethereum and the USDT stablecoin, which are fully compliant with US law.

According to Uniswap CEO Marvin Ammori, the proposed SEC lawsuit would be an excess of the powers granted to the agency by the United States Congress.

The company said it estimates that 75% of the platform's users are outside the United States. This means that more than 90% of trading volume is also outside the jurisdiction of the Commission.
#UNI: #Uniswap #secNews #ETFvsBTC
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SEC releases final response to Ripple XRP case

Ripple Labs and the US Securities and Exchange Commission (SEC) have made significant progress in the litigation, with the SEC filing a final response to the lawsuit.

In its recent response to the summary of remedies, the SEC disputed Ripple's assertion that the blockchain startup acted recklessly and that there should not be "widespread uncertainty" about the legal status of XRP
despite the court having previously rejected this "fair notice" defense.

The Securities and Exchange Commission (SEC) also maintains its position on whether Ripple will take similar actions in the future, although Ripple has not violated any rules since the XRP lawsuit brought in 2020.

According to the summary of remedies, Ripple attempted to downplay its liability while emphasizing its cooperation with the SEC since the XRP initial coin offering in 2013.

However, the SEC emphasized that according to the law, even if Ripple has refrained from violations since 2020, a new violation is still possible.
#xrp #RippleTrends #secNews
$XRP