Investment Learning

  • November 21, 2023

U.S. Department of Justice to Announce Major Cryptocurrency Enforcement Actions on Today at 9:00 PM GMT

According to a Bloomberg report on November 21, the U.S. Department of Justice (DOJ) intends to announce significant cryptocurrency enforcement actions at 09:00 PM (GMT) on November 21. Key officials involved in the announcement include Attorney General Merrick Garland, Treasury Secretary Janet Yellen, Deputy Attorney General Lisa Monaco, and the Chairman of the Commodities Futures Trading Commission, Rostin Behnam. As previously reported by BlockBeats, a recent investigation by the DOJ resulted in Tether, the issuer of USDT, actively and voluntarily freezing approximately $225 million in USDT tokens held in external self-hosted wallets. The wallets in question were connected to an international human trafficking group based in Southeast Asia, believed to be involved in a scam known as the "pig-killing plate" that has impacted people globally.  

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  • November 16, 2023

BlackRock Submits S-1 Application to SEC for Spot Ethereum ETF

BlackRock, the global investment management corporation, has submitted an S-1 application to the U.S. Securities and Exchange Commission (SEC) for its proposed Ethereum spot ETF. The submission took place on November 15th, marking a significant step towards listing the ETF. An S-1 filing is a registration statement submitted to the SEC by a company seeking to bring a security to the public market. It details the company's operations and planned use for the capital raised. In this instance, it's a key step in BlackRock's process of launching their Ethereum spot ETF. Previously, Nasdaq had forwarded BlackRock’s proposed Ethereum spot ETF application to the SEC. The current action escalates it further, suggesting progress in BlackRock's journey to potentially offer a direct Ethereum investment instrument to its clients

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  • November 8, 2023

US House's Spending Bill Restricts SEC's Crypto Enforcement, Targets Chair Gary Gensler

According to CoinDesk: The US House of Representatives has agreed on an amendment in their government spending plan that could limit financial resources for the US Securities and Exchange Commission (SEC) to enforce actions against cryptocurrency businesses. Majority Whip, Tom Emmer (R-Minn.), a leading House member and an active supporter of cryptocurrency, introduced the amendment. Emmer accused SEC Chair, Gary Gensler, of attempting to direct the cryptocurrency sector through enforcement actions instead of policy-making. On Wednesday, the House appropriations bill, also known as the Financial Services and General Government Appropriations Act of 2024, was revised by several amendments, including Emmer's provision. The amendment, Emmer argued, will prevent the SEC from utilizing funds for enforcement activities related to digital asset transactions until Congress adopts legislation granting the SEC jurisdiction over digital assets. This move aims to keep Gensler, who Emmer referred to as ineffective and incompetent, in check while Congress works to enable industry growth within the United States. However, any House funding catch-all package also needs approval from the Senate, where Democrats tend to be more supportive of Gensler. Senate Banking Committee Chairman Sherrod Brown (D-Ohio) and others have actively endorsed Gensler's approach towards enforcement actions against crypto firms. The Blockchain Innovation Project's co-chairs, former Reps. David McIntosh and Tim Ryan, assisted with Emmer's amendment and stressed the need for a bipartisan solution that allows blockchain technology to flourish while protecting American consumers and investors. Gensler affirmed on Wednesday that his agency has initiated nearly 150 actions against crypto firms, a record he is proud of.

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  • November 6, 2023

London Stock Exchange Group Searching for Director of Digital Assets

According to Cointelegraph: The London Stock Exchange Group (LSEG), the parent company to the London Stock Exchange and multiple fintech firms, seeks a director for digital assets according to its LinkedIn job posting. In its quest for the right candidate, LSEG listed several qualifications, including a “passion for and understanding of digital assets, cryptocurrencies, and distributed ledger technology.” According to the job description, the successful candidate will aid the company in developing and implementing a commercial strategy for new infrastructure solutions. The appointee will also help enhance LSEG's position and reach within digital private markets. However, a representative from LSEG told Cointelegraph that they could not provide additional details about this development at this time. This move follows LSEG's earlier announcement about their plan to utilize blockchain technology for the creation of a traditional asset trading platform. Through this venture, they aim to increase the efficiency of holding, purchasing, and selling these assets. Despite LSEG’s interest in blockchain technology, the group's head of capital markets, Murray Roos, clarified that they would not be venturing into cryptocurrency-related projects. This comes amidst increasing regulation in the UK's crypto environment. In October, the UK passed a bill allowing authorities to confiscate Bitcoin used in criminal activities and announced new stablecoin regulations. Furthermore, the country's financial watchdog issued a warning to crypto companies to comply with marketing regulations by January 2024, tightening its oversight of the rapidly growing industry.

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