The U.S. Securities and Exchange Commission (SEC) has again postponed its decision on approving spot Ethereum exchange-traded funds (ETFs), calling for further analysis and public comment.
In a recent filing , the SEC said the delay is intended to ensure that any proposed rule changes comply with the requirements of the Securities Exchange Act, particularly with regard to preventing market manipulation, protecting investors, and fair trading.
On August 7, NYSE American LLC, along with Grayscale and Bitwise, submitted a proposal to list and trade Ethereum products, including the Bitwise Ethereum ETF and the Grayscale Ethereum Trust. In addition, the SEC is evaluating whether BlackRock’s iShares Ethereum Trust, a similar fund, meets regulatory standards for inclusion on the market.
Bitcoin Fog founder sentenced to 12 years in US's biggest crackdown on cryptocurrency mixers
Roman Sterlingov, founder of Bitcoin Fog, the oldest cryptocurrency mixer on the darknet, has been sentenced to 12 years and six months in prison. This is a landmark sentence in the US government's crackdown on crypto-asset mixing services.
Sterlingov, convicted in March of money laundering and illegally operating a money transmitting business, faced a possible sentence of up to 30 years.
The Department of Justice (DOJ) said that Bitcoin Fog, throughout its ten-year operation, was a resource used by criminals to “hide their illicit profits,” moving more than 1.2 million Bitcoins, valued at USD 400 million at the time. In addition to the conviction, Sterlingov must pay a fine of $395 million and forfeit seized cryptocurrency worth $1.76 million.
OpenSea introduces its new interface with XP rewards system and focus on advanced traders
Just days after the announcement of the revamped version of OpenSea, the pioneering NFT marketplace, the community is already discovering details of the redesign. NFT trader John.weth shared a preview of the new interface, which is still in beta, on X and explained that features may undergo changes.
The redesign includes an “XP” rewards system, which allows users to earn points by listing items or bidding on top collections on the platform.
According to OpenSea, XP represents users’ progress in the marketplace and those who try to manipulate the ranking with “false liquidity” could be penalized by having their points reduced. A loyalty program will also reward users who list their NFTs exclusively on OpenSea, with additional bonuses for the most active.
Tether conducts its first crude oil trade, boosting global USD trading
Tether, a leader in the digital asset sector, has taken a major step into the world of commodities trading by financing its first crude oil transaction.
In October, Tether’s investment arm facilitated a $45 million transaction to transport 670,000 barrels of oil from the Middle East, in collaboration with a major oil company and a prominent commodities trader.
This move reflects Tether’s commitment to transforming global trade through its USD stablecoin, offering a fast and cost-effective alternative to traditional transactions. Tether CEO Paolo Ardoino says this is just the beginning: “This transaction underscores our commitment to modernizing trade finance. With USDT, we are bringing unprecedented efficiency to a historically slow and costly sector.”
Through this initiative, Tether seeks to pave the way for new sectors, including technology, agriculture and finance, in its mission to promote greater inclusion and transparency in global trade flows.
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