CFTC veteran Mike Selig, one of most influential blockchain lawyers, is sure that Grayscale legal win is crucial for spot ETFs progress
Mike Selig, cryptocurrency and finance lawyer at Willkie Farr & Gallagher LLP and former CFTC official, is sure that the midterm effects of Grayscale's legal win over the SEC should not be underestimated. All ETF applicants might benefit from it, let alone the Binance and Coinbase exchanges.The U.S.
The ripple effect of the Grayscale decision is massive. SEC would have faced similar legal challenges for denying ETH futures ETFs. By approving an ETH futures ETF, the SEC effectively concedes ETH is not a security. This will no doubt impact the Coinbase and Binance litigation.That's why the"ripple effect" of Grayscale's legal triumph can be massive for many actors of cryptocurrency markets. This is also crucial in the context of the Ethereum security status debate, he added.
By approving Ethereum futures ETF, the SEC effectively concedes that Ether, the native cryptocurrency of the Ethereum blockchain and the second-largest digital asset, is not a security.Besides Ethereum ETF progress, the U.S. Court verdict on the Grayscale v. SEC case will also affect the dynamics of the Coinbase and Binance legal dramas.scored an epic win over the U.S. SEC.
In the meantime, the firms are launching new exchange-traded funds based on Bitcoin and Ethereum futures. In the last days, Grayscale and Bitwise filed for futures-based ETF products
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Valkyrie Greenlit to Purchase ETH Futures for its Bitcoin, Ethereum ETFsValkyrie becomes first U.S. firm to offer both Ethereum and Bitcoin futures contracts, following SEC approval to modify its existing BTC ETF.
Read more »
Ethereum futures ETFs that will be given SEC accelerated approval to launch on Monday, experts sayEthereum futures exchange-traded funds (ETFs) are the latest trend in the crypto market, with institutional players switching lanes after the US Secur
Read more »
FTX hacker's wallet stirs as Ethereum ETFs prepare for U.S. debutAmid the FTX hacker's wallet activity, worth $16.75M in ETH, and concerns, Ethereum ETFs' US launch could sway ETH's value while a US gov't shutdown threatens Bitcoin.
Read more »
New US bill to require firms to report off-chain transactions to CFTCU.S. Democrat Rep. Don Beyer introduced a new bill requiring trading platforms to report all transactions to a repositary registered with the CFTC.
Read more »
CFTC charges Mosaic and founder over 'digital asset commodity scheme'Mosaic Exchange Limited and its owner ran a 'fraudulent digital asset commodity scheme,' a U.S. regulator said on Thursday.
Read more »
US CFTC orders 3 major US banks to pay over $50 million for swap reporting failures By ReutersUS CFTC orders 3 major US banks to pay over $50 million for swap reporting failures
Read more »