The United States Court of Appeal has issued a mandate following a decision requiring Grayscale Investments application for a spot Bitcoin exchange-traded fund to be reviewed by the Securities and Exchange Commission (SEC). 

In an Oct. 23 filing in the U.S. Court of Appeals for the District of Columbia Circuit, the “formal mandate” of the court took effect, paving the way for the SEC to review its decision on Grayscale’s spot Bitcoin (BTC) exchange-traded fund, or ETF. The mandate followed the court’s initial ruling on Aug. 29 and the SEC failing to present an appeal by Oct. 13.

Oct. 23 filing in U.S. Court of Appeals for the District of Columbia Circuit. Source: Courtlistener

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In the last week, several major financial regulators, both national and international, simultaneously produced new guidelines for decentralized assets. The European Banking Authority and the European Securities and Markets Authority proposed guidelines for assessing the suitability of management members in crypto firms, offering standardized criteria for evaluating their knowledge, expertise, integrity and ability to dedicate adequate time to fulfill their responsibilities.

The Basel Committee on Banking Supervision of the Bank for International Settlements (BIS) proposed to oblige banks to provide both quantitative and qualitative data on exposures to crypto assets and the corresponding…

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Bitcoin’s BTC/USD journey to becoming a global reserve currency hinges on several key factors – more institutions mainstreaming its use, effective regulation of its touchpoints rather than the currency itself, dispelling myths surrounding its environmental impact and creating easier transaction avenues for the public, according to Seamus Rocca, the CEO of Xapo Bank.

The CEO’s insights are particularly timely, as the financial community continues to explore the future of digital assets. Events like Benzinga’s Future of Digital Assets conference on Nov. 14 will further delve into these pressing topics, fostering deeper understanding and collaboration.

In an interview with…

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In Ripple’s XRP/USD ongoing lawsuit, the U.S. Securities and Exchange Commission (SEC) does not have a good chance of winning its appeal against the company.

Lawyer Bill Morgan who is closely following the lawsuit said in an X post that all the odds are in favour of Ripple and there is only a 3%-14% chance for SEC having success in in its appeal against Ripple, CoinTelegraph reported.

Find out more about Ripple’s SEC case and what are the effects of it on token price. Meet and engage with other transformative Digital Asset and Crypto business leaders and investors at Benzinga’s exclusive event: Future of Digital Assets. Tickets are flying: Get yours!  

XRP attorney John Deaton…

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Several key pieces of crypto legislation are at a standstill as Republican lawmakers struggle to elect a new House speaker in the United States Congress. Meanwhile, Reddit’s r/CryptoCurrency community sacked two moderators involved in insider trading of the Moons (MOON) token, and Bitcoin (BTC) advocate Jameson Lopp has presented new evidence that could debunk the theory that computer scientist Hal Finney was Bitcoin creator Satoshi Nakamoto. 

House speaker vacuum leaves Congress paralyzed on crypto bills

Key pieces of crypto legislation in the United States remain in limbo as lawmakers struggle to appoint a new House speaker.

Without a House speaker, crypto bills passed by the…

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OKX’s chief marketing officer Haider Rafique wants OKX to be as trustworthy as Fidelity. 

In an interview with Blockworks, Rafique explained how he’s approaching the company’s rebranding, advertising and the overall state of crypto.

In December 2022, OKX announced that it was planning to rebrand from OKEx to OKX. Rafique helped lead the rebranding, and acknowledged that the campaign has been tough.

“There’s still an appetite to push and bring utility,” he added. 

The company is looking to build itself as a “generational brand” like Fidelity, a brand that Rafique himself trusts.

Read more: Tech-first, trust-next: OKX’s roadmap for regaining consumer…

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What happened: On Sunday a total of 1,809.40 Ether ETH/USD worth $3,056,867, based on the current value of Ethereum at time of publication ($1,689.44), was burned from Ethereum transactions. Burning is when a coin or token is sent to an unusable wallet to remove it from circulation.

Why it matters: On August 5th, 2021, the Ethereum blockchain implemented an important upgrade known as EIP-1159. This Ethereum improvement proposal changed the fee model drastically. Now each transaction includes a variable base fee that adjusts according to the current demand for block space. This base fee is burned, or permanently removed from circulation, lowering the supply of Ether forever.

See Also: How…

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For two years, the cryptocurrency world has been waiting to see how the Internal Revenue Service (IRS) would implement the Infrastructure Investment and Jobs Act. Put simply, this law established new reporting requirements that risked setting a de facto ban on cryptocurrency mining and exposing millions of Americans to new felony crimes. The good news is that the IRS’s nearly 300-page proposal is not quite as bad as it could have been under the law. However, that is far from saying it is good policy. 

As citizens, companies, and consultants finish crafting their comment letters ahead of the October 30 response deadline, it’s important to take a step back and recognize why businesses…

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The digital yuan has been used for the first time to settle an oil transaction, the Shanghai Petroleum and Natural Gas Exchange (SHPGX) announced. PetroChina International bought 1 million barrels of crude on Oct. 19. 

The transaction was a response to a call by the Shanghai Municipal Party Committee and Municipal Government to apply the Chinese central bank digital currency (CBDC), also referred to as the e-CNY, to international trade, the exchange said. It is “another major step forward” for the digital yuan, according to the state-controlled China Daily.

The seller and the price in the transaction were not disclosed. For comparison, the price of the “OPEC basket” of oil from 13…

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