NFT News Official TheBitTimes.com

Coinbase has decided to further dig in its heels against regulatory pressure from the Securities and Exchange Commission (SEC), with CEO Brian Armstrong calling out the commission’s chair Gary Gensler, and the crypto exchange’s legal chief hitting back at an SEC proposal that would amend custody rules for registered investment advisors (RIAs). In a 23-page letter to the SEC, Coinbase’s legal head Paul Grewal outlined many ways in which the exchange doesn’t agree with major revisions proposed to the investment adviser custody rule. Grewal explained that the SEC is seemingly making assumptions about crypto that would do harm to investors. “While we agree with some of the measures outlined in the Proposal, we are concerned that, in its current form, the Proposal makes unwarranted assumptions about custodial practices based on the Commission’s experience with securities ,” the letter stated. “These assumptions are not necessary or appropriate, and could be detrimental to consumer prote...

The SEC has postponed its decision on the Ark Invest & 21Shares Bitcoin ETF proposal as it’s soliciting feedback from the public . The recent actions of the Securities and Exchange Commission (SEC) towards the spot Bitcoin (BTC) ETF proposal by Ark Invest and 21Shares have garnered significant attention. Contrary to widespread anticipation, the SEC did not deliver a clear verdict – neither an approval nor a rejection. You might also like: What is Bitcoin ETF and which companies applied for it in the US? As revealed in their official documentation, the SEC has initiated “proceedings” to decide on the future of this Bitcoin ETF conclusively. The move follows several proposals the SEC has encountered in the past few months. Significantly, such initiation of proceedings doesn’t necessarily reveal the SEC’s stance on the matter. It merely underscores their commitment to a thorough examination, as the document emphasizes the absence of any fin...