SEC Chair Gary Gensler Hints Grayscale Case Shifted SEC’s View

The Chairman of the United States Securities and Exchange Commission (SEC), said that his agency has decided to adopt a new approach to the approval of Spot Bitcoin Exchange-Traded Funds (ETFs). SEC Chair Gary Gensler hinted that the court’s ruling in the Grayscale lawsuit directed the regulator to rethink its approach to Bitcoin ETFs.

In a recent CNBC interview on December 14, the SEC Chair addressed the extensive backlog of Spot Bitcoin ETF applications from major asset management firms, such as BlackRock. Gensler disclosed that his agency is currently scrutinizing “between eight and a dozen filings,” subjecting them to a meticulous evaluation process.

SEC Chair Gary… Read more on bitcoinnews

Bitcoin For Beginners | Comprehensive Bitcoin Q&A

Introduction

In this Bitcoin for beginners guide, we demystify the world of Bitcoin, a revolutionary digital currency that reshapes how we view and use money. Free from traditional banking and government control, Bitcoin offers a new level of financial freedom. This article simplifies Bitcoin for beginners, covering everything from its inception to how it operates and how you can securely engage with this digital currency. Embark on this journey to understand and confidently navigate the realm of Bitcoin.

Bitcoin for Beginners: The Fundamentals

Bitcoin is more than a digital currency; it’s a revolution in finance. Let’s explore its creation, control,…

Read more on bitcoinnews

Vesting in crypto, explained


What is crypto vesting?

The process of locking down cryptocurrency tokens or coins for a predetermined amount of time before allowing the tokenholder to fully access or transfer them is known as crypto vesting.

It is commonly used in initial coin offerings (ICOs), token sales and other cryptocurrency-related fundraising activities. Crypto vesting aims to incentivize long-term dedication and deter early investors or team members from hastily selling their tokens for a profit and then leaving the business. Individuals or entities that get tokens gradually gain access to them over time, usually at predetermined intervals, by imposing a…

Read more on Cointelegraph

SEC faces accusations of contradiction in Coinbase rulemaking dispute

In the ongoing legal dispute between Coinbase Global Inc. and the U.S. Securities and Exchange Commission (SEC), the XRP holder’s lawyer, John Deaton, has accused the SEC’s top official, Gary Gensler, of ‘gaslighting’ the public and disagreed with his stance on cryptocurrencies.

The development in Coinbase’s rulemaking request occurred when the SEC rejected the trading platform’s petition based on three reasons.

These reasons encompass applying current securities laws to cryptocurrencies, the SEC’s engagement with the crypto securities markets through rulemaking, and the significance of preserving the Commission’s discretion in establishing its rulemaking priorities.

Despite…

Read more on Cointelegraph

Instant Settlement: The Construction Industry

As I delve deeper into the realm of Bitcoin and the Lightning Network, I am consistently struck by the potential benefits it holds for humanity. The realization of how inefficient and broken our societal structures are due to the limitations of fiat currency becomes increasingly apparent to everyone. While the spotlight often shines on the monetary aspects of Bitcoin, my exploration into the Lightning Network, spurred by my work at Breez and our company’s visionary goals, has unveiled an aspect that remains largely unspoken. This hidden gem promises significant benefits for humanity, yet it requires the careful alignment of various building blocks before its full potential can be…

Read more on BitcoinMagazine

Ripple’s Legal Chief predicts crypto landscape shifts in 2024

Ripple’s Chief Legal Officer, Stuart Alderoty, has shared insights on the future of the cryptocurrency landscape, specifically in 2024. He discussed predictions about Ripple’s legal dispute with the Securities and Exchange Commission (SEC), the judiciary’s influence on crypto regulations, and potential legislative challenges in Congress.

In his prediction, Alderoty foresees the possible resolution of Ripple’s SEC lawsuit in 2024. He cautions against the SEC’s persistent “regulation by enforcement” strategy, highlighting potential consequences for significant players in the crypto industry.

Alderoty predicts a significant role for the judiciary in curbing SEC overreach,…

Read more on Cointelegraph

Check Out the Top Crypto Gainers of the Day

  1. Comsats (CSAS): 232.5%
  2. Vita Inu (VINU): 118.1%
  3. MAP Protocol (MAP): 63.2%
  4. StarLink (STARL): 39.3%
  5. Internet Computer (ICP): 39.2%
  6. Polkastarter (POLS): 23.6%
  7. Helium Mobile (MOBILE): 22.5%
  8. IoTeX (IOTX): 19.5%
  9. Raydium (RAY): 19.2%
  10. Helium (HNT): 17.3%

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

Grayscale mulls over potential tax implications for spot Bitcoin ETFs

Grayscale is evaluating the possible tax consequences associated with spot Bitcoin (BTC) exchange-trade funds (ETF), prompted by inaccurate reports circulating about unfavorable tax implications.

In a series of posts on X (formerly Twitter), Grayscale clarifies that retail investors of the Grayscale Bitcoin Trust (GBTC) are not expected to incur tax implications when the fund sells Bitcoin to generate cash for meeting share redemptions.

As we work to obtain the appropriate regulatory approvals to uplist $GBTC to NYSE Arca, we’re considering the potential tax implications for spot Bitcoin ETFs needing to sell $BTC holdings for cash to fulfill share redemptions. Here’s why we’re…

Read more on Cointelegraph

Taiwan officials launch inquiry into crypto betting on election results: Report

With the Taiwan presidential election looming within a month, residents of Taiwan have been reportedly warned against using cryptocurrency betting platforms to wager on the presidential outcome. This advice comes amid an ongoing investigation, with several individuals already called for questioning.

According to a recent local report, a number of Taiwanese citizens have utilized the decentralized betting platform Polymarket to place bets on the upcoming presidential election scheduled for January 13, 2024.

“The community reported that several individuals have been summoned for investigation by prosecutors and investigators for participating in Polymarket bets,” the report stated.

Taiwan… Read more on Cointelegraph

The Week That Mattered For Crypto: BONK, Avalanche Lead Gainers; Terra Classic, Chainlink Top Losers’ Pack

While the week started on a high note of $43,800 for Bitcoin BTC/USD, it didn’t reach that level again for the rest of the week. The crypto’s apex king reported a 4% drop in the past 7-days trade while Ethereum ETH/USD saw a 4.6% fall in the same timeframe. Currently, the global crypto market cap is standing at $1.6 trillion with a Bitcoin dominance of 51.6%.

What Happened: Solana memecoin BONK BONK/USD was leading the gainers’ list amongst all the cryptocurrencies with 150.6% gains in the last 7-day trading session. With a caution notification to investors for high volatility, BONK was listed on Binance. Terra Classic LUNC/USD was one of the leading losers with a 13.8% drop.

Based on…

Read more on Benzinga