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XRP is witnessing a notable decline in investor confidence, with its market capitalization dropping by over $16 billion in the past week. This downturn coincides with the U.S. Securities Exchange Commission’s (SEC) decision to postpone its ruling on 21Shares’ proposed spot XRP exchange-traded fund (ETF), as outlined in a filing on May 20. A week ago, XRP’s market capitalization stood at $153.56 billion. As of press time, the figure has fallen to $137.45 billion, a decline of $16.11 billion.  The token is currently trading at $2.34, reflecting a price drop of nearly 10% over the same period. XRP market cap chart. Source: CoinMarketCap SEC delays spot ETF approval In announcing the delay, the SEC stated it would extend the review period to assess whether the proposed 21Shares Core XRP Trust complies with Section 6(b)(5) of the Exchange Act.  This provision mandates that ETF products implement adequate safeguards against fraud an...

Despite the ongoing legal conflict between the US Securities and Exchange Commission (SEC) and Ripple, the company’s CEO, Brad Garlinghouse, has said that an XRP ETF is “inevitable.” Indeed, Galinrhouse spoke to Bloomberg regarding the cryptocurrency and why it could be next in line for the investment vehicle. In January of this year, Bitcoin became the first crypto-based ETF in the United States. Just three months later, the leading cryptocurrency catapulted to an all-time high of $73,000. With Ethereum being the next digital asset to get approval, Garlinghouse believes in Ripple’s chances of being next up. JUST IN: Ripple CEO Brad Garlinghouse says an $XRP ETF is "inevitable." — Watcher.Guru (@WatcherGuru) October 23, 2024 Also Read: Ripple Case & SEC Enforcement: Clarity from Lawyer, Gensler’s Stance Ripple CEO Says an XRP ETF is ‘Just Inevitable’ Throughout 2024, ETFs have become a popular point of discussion within the crypto community. The...

After years of rejections, the United States Securities Exchange Commission (SEC) finally approved a spot Bitcoin exchange-traded fund (ETF), marking the first of its kind in the country with anticipated bullish consequences for cryptocurrencies. In this context, the commission’s voting notice published on January 10 revealed insights into which commissioners supported the product.  Interestingly, Chair Gary Gensler, previously accused of stifling the cryptocurrency sector, voted to favor the ETF. Commissioners Hester Peirce and Mark Uyeda joined Gensler in approving the product. However, only two commissioners, including Caroline Crenshaw and Jaime Lizárraga, voted a gains t its approval . SEC commissioners voting on spot Bitcoin ETF. Source: SEC Divisions among SEC commissioners  Cryptocurrency Elon Musk discusses idea of using Bitcoin on Mars Cryptocurrency Expert offers Bitcoin outlook for coming months after spot ETF approval ...

The Chicago Board Options Exchange has extended its approval for listing several spot Bitcoin ETFs, pending the final nod from the SEC. This announcement was disclosed in a letter to the SEC, indicating the potential listing of Bitcoin ETFs from prominent investment firms, including VanEck, Fidelity, Franklin Templeton, ARK Invest, and Invesco Galaxy. Leaked official email from Cboe This decision highlights the advanced stage of ETF proceedings. The Chicago Board Options Exchange’s (CBOE) proactive stance is geared towards accelerating the registration of these securities under Rule 12d1-2 of the Securities Exchange Act of 1934. As the market anticipates the SEC’s decision, the approval of these ETFs could herald a new era of accessibility, offering traditional investors a regulated and straightforward avenue to invest in Bitcoin. Read more: US Senators urge SEC for clarity following misleading tweet on Bitcoin ETFs Follow Us on Google News Sour...

Issuers of spot Bitcoin (BTC) exchange-traded funds (ETF) have made significant progress toward regulatory approval. According to Bloomberg, the U.S. Securities and Exchange Commission (SEC) has provided positive feedback on key filings and requested no additional feedback on the paperwork for several applications. The agency’s commissioners plan to vote on the exchange-rule filings this week. At least one applicant, asset manager BlackRock, reportedly expects the SEC to approve its application for a spot Bitcoin ETF on Wednesday, Jan. 10. Last week, the SEC instructed multiple exchanges and issuers interested in listing these ETFs to submit a final version of a crucial document by Friday, Jan. 5.  Multiple reports cited how, following the latest amendments, the SEC provided no further feedback on the paperwork for several firms. This development signals progress on the path to gaining regulatory approval in the upcoming days and paves the way for the launch of spot Bitcoin...

Starting January 29, 2024, Google will allow US-based crypto trusts to advertise on its platform. Advertisers looking to promote crypto trusts must, however, undergo Google certification. Google’s policy update aligns with a broader industry trend and Bitcoin’s 74% surge in the past 90 days. In a strategic move, Google has revised its cryptocurrency-related advertising policy to permit ads for US-based crypto trusts, aligning with predictions of the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States. This update, effective January 29, 2024, comes at a time of heightened anticipation in the crypto space, as industry analysts speculate a 90% chance of a US spot Bitcoin ETF approval by January 10, 2024. Google allows Ads for US crypto trusts The update explicitly mentions “advertisers offering Cryptocurrency Coin Trust targeting the United States.” Advertisers interested in promoting crypto trusts must undergo...

Coinbase is the latest crypto company to secure full regulatory approval in Singapore. The U.S. exchange’s Singaporean arm announced it had received a Major Payment Institution (MPI) license issued by the Monetary Authority of Singapore (MAS), becoming a fully authorized player in Singapore. The platform had secure d a temporary licensing exemption from the Singaporean central bank in March 2020. Two years later, in October 2022, Coinbase received an “In Principle” license to operate in the city-state.  Moreover, the Republic of Singapore, often viewed as a crypto haven, is no stranger to the allure of digital currencies, with a staggering 25% of its population embracing crypto as the future of finance.  You might also like: Analyst: Valkyrie likely pressured not to buy more Ethereum futures Furthermore, an impressive 32% of Singaporeans have already ventured into crypto. The latest Chainalysis Global Crypto Adoption Index revealed that Singapore receive...

The latest regulatory approval for the crypto exchange comes within weeks of getting a MPI license from regulators in Singapore Singapore based cryptocurrency exchange service provider Crypto.com has obtained a virtual asset service provider (VASP) registration from the Bank of Spain. The regulatory approval would allow the exchange to offer a range of crypto-focused services to customers in Spain, a country which has shown a positive crypto stance in recent times. The crypto exchange platfrom had to undergo a comprehensive review of its Anti-Money Laundering Directive (AMLD) compliance and adhere to other financial crimes laws before getting the nod. The latest regulatory approval in Spain comes within weeks of obtaining a major payment institution (MPI) license for digital payment token (DPT) services by the Monetary Authority of Singapore (MAS). We're excited to share our latest regulatory achievement in Europe! We have obtained our Virtual Asset Provider Registration in Spai...