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Fox Business reporter Eleanor Terrett posted on the X platform that Ripple proceedings are more complicated than Coinbase because they have received an order from District Judge Torres to pay a $125 million fine. According to the final judgment, Torres will retain jurisdiction over the case for one year (until August 7, 2025) to ensure that the terms of the order are met. While the SEC can choose to drop its appeal in the Second Circuit Court, they will also need to find a way to approach the di...
Fox Business reporter Eleanor Terrett posted on the X platform that legal sources he talked to believe that the Securities Exchange Commission is trying to reach a settlement for crypto companies rather than outright dismiss the relevant lawsuits as a way to "justify" spending millions of taxpayer dollars and save a little face. In addition, two Securities Exchange Commission commissioners, Hester Peirce and Mark Uyeda, did inform Coinbase that they are sorry for the inconvenience, which is a pr...
"US Republican Senator Bill Hagerty's stablecoin regulatory framework bill has more bipartisan support," Eleanor Terrett, a FOX Business reporter, said in a social media post. "Democratic Senator Angela Alsobrooks of Maryland has just signed an agreement to co-sponsor the bill, and the other Democratic co-sponsor is Kirsten Gillibrand."
FOX Business reporter Eleanor Terrett shared in a post that Canary Capital has launched the AXL (Axelar) trust, Canary AXL Trust, which will contain the native tokens of the Axelar network and is the first investment trust to offer universal blockchain interoperability protocol investments. The Axelar protocol has become the leading cross-chain protocol and is working closely with Ripple to support the interoperability of its stablecoin, RLUSD. Axelar acts as a bridge between the XRP Ledger and ...
FOX Business reporter Eleanor Terrett said that according to multiple legal sources, the SEC has been prioritizing cases with court deadlines, which explains why we haven't seen suspension requests in the Ripple and Kraken cases. Ripple's next court deadline is April 16, while Kraken's deadline appears to be March 31. Binance's case has been put on hold until April 14 and Lejilex's until April 11, while Coinbase and the SEC have agreed to extend the deadline to allow S...
FOX Business reporter Eleanor Terrett posted that outgoing Federal Reserve Michael Barr spoke this afternoon at the Council on Foreign Relations in New York on bank decentralization and crypto regulation. Barr said the Fed is trying to address these concerns.
According to Fox Business reporter Eleanor Terrett on the X platform, the Department of Government Efficiency, led by Musk, will pay attention to the SEC. According to its retweet, DOGE is seeking help from the public to provide information on the discovery and resolution of waste, fraud and abuse related to the Securities Exchange Commission.
Fox Business News reporter Eleanor Terrett posted on the X platform that the Securities Exchange Commission (SEC) crypto task force is keeping logs of all its meetings with industry players. So far, the task force has held meetings with the Blockchain Association, Jito Labs and Multicoin Capital, Nasdaq, and Colin Lloyd, a partner in the commodities, futures and derivatives and capital markets team at law firm Sullivan & Cromwell. The topics of the meeting mainly focused on regulatory aspects an...
According to Wen Wei Po, the reporter recently went to more than a dozen cryptocurrency exchange shops (OTC) in Hong Kong and found that TEDA is the most popular among cryptocurrencies. About half of the exchange shops allow cash to be exchanged for cryptocurrency without real-name registration. At present, these exchange shops do not need to submit transaction reports to law enforcement agencies. According to a store staff involved in KYC certification, personal information needs to be register...
According to Fox Business reporter Eleanor Terrett, the Securities Exchange Commission (SEC) has officially accepted a 19b-4 application filed by Grayscale and NYSE to convert the Grayscale XRP Trust ($XRP Trust) into an exchange-traded fund (ETF). While this does not mean automatic approval, nor does it guarantee that the SEC will ultimately approve the application, this development shows that the SEC is more open to crypto ETFs, rather than refusing to consider such products outright. Previous...
Fox Business Correspondent Eleanor Terrett revealed that the SEC will respond to Coinbase's appeal request on February 14. Previously, Judge Failla had granted Coinbase an interlocutory appeal over whether its platform's digital assets were subject to existing securities laws. The SEC currently faces four options: one is to oppose the appeal request and continue the Gensler-era position, arguing that securities laws explicitly apply to most crypto tokens, despite current Acting Chairperson Uyeda...
According to FOX Business reporter Eleanor Terrett, two people familiar with the matter said that Trump has selected a permanent head of the CFTC, and a16z crypto policy director and former CFTC commissioner Brian Quintenz is at the top of the list. The White House did not immediately respond to a request for comment.
According to Forbes business reporter Eleanor Terrett, the U.S. House Financial Services Committee will hold a hearing on February 12 at 3:30 PM on the topic "The Golden Age of Digital Assets: Charting the Way Forward." Jonathan Jachym, Deputy General Counsel and Head of Global Policy and Government Relations at Kraken Trading Platforms, will appear as a witness at the hearing, which will be broadcast live on YouTube.
According to Forbes reporter Eleanor Terrett, most large US crypto companies will not be running ads at the Super Bowl this year. "However, we may see some ETF-related commercials because last year they didn't get approval in time to buy ad space, which usually sells out by October/November."
According to Fox Business reporter Eleanor Terrett, the U.S. Commodity Futures Trading Commission (CFTC) is planning to host a CEO forum to discuss the CFTC's Digital Asset Market Pilot Program for tokenized non-cash collateral, such as stablecoins. Participants included leaders from Circle, Coinbase, Crypto.com with Ripple, the crypto pilot program, and the concept of scaling non-cash collateral through distributed ledger technology proposed by current acting CFTC chair Caroline Pham.
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