China News by Thebittimes.Com

The SEC has informed exchanges it is leaning towards approving spot Ethereum ETFs, according to a Barron report. On Monday, reports came out that the SEC was changing their mind on the future of the Ethereum funds, and the agency decided to speed up the process of reviewing applicants’ documents. JUST IN: SEC informs exchanges it is leaning towards approving spot #Ethereum ETFs, Barrons reports. — Watcher.Guru (@WatcherGuru) May 21, 2024 Presently, the SEC permits ETFs holding Ether futures, but this approval would allow them to hold the currency itself. Yesterday, the SEC asked exchanges to update their 19B-4 filings for their Spot Ethereum ETF s. The agency looks to be speeding toward a potential approval by a crucial Thursday deadline. Furthermore, for the Ethereum ETFs to be approved, the SEC must approve the 19b-4s (exchange rule changes) & S-1s (registration statements). Upon approval of both, all of the ETF applications will likely be approved simultaneous...

Source: Pavel Ignatov/Adobe A number of South Korean firms are preparing to launch security token offering (STO)-related services this year. And they are hopeful that regulators will give them the green light to get started this month. Busan Ilbo reported that a number of major domestic companies are now keenly awaiting industry guidelines from the nation’s top financial regulator – the Financial Services Commission (FSC). The FSC is slated to make an announcement about STOs on January 19, although full details of the regulator’s intention may not become clear until later this month. But it appears that many firms are confident that the FSC will not throw up too many hurdles in their path, with multiple domestic securities companies “busy preparing digital asset plat forms ” that can handle and/or issue tokens. They will be joined in their efforts by the city of Busan, which hopes to make STOs a key part of the city-run Digital Assets Ex...