Coinbase Gets a Judicial Hug and BlackRock Flirts with Bitcoin ETF

Ripple surfs on a victory wave, BlackRock dips its toes in the Bitcoin ETF waters, and Kraken wrestles the taxman

Jul 17, 2023

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News

SEC accepts BlackRock’s Bitcoin ETF application, signaling regulatory review

The United States Securities and Exchange Commission (SEC) has accepted BlackRock's application for a spot Bitcoin exchange-traded fund (ETF), indicating the start of the regulatory review process. This development is significant for the Bitcoin community as it shows the SEC's willingness to explore the idea of a Bitcoin ETF.

JPMorgan says Ripple’s XRP ruling is a win for Coinbase

JPMorgan analysts believe that the recent ruling on Ripple's XRP token is a win for Coinbase. The ruling narrows the downside risk for Coinbase as it may be applied to the 13 tokens actively traded on the platform that the SEC alleged are securities.

Judge in Coinbase-SEC Case Delivers Speech in favor of Coinbase

In the ongoing legal battle between Coinbase and the SEC, a federal judge has expressed support for the cryptocurrency exchange. The judge questioned the SEC's claims against Coinbase's Lend program and suggested that Coinbase may have been justified in thinking the program was appropriate based on their approved IPO record.

Kraken Picks Customer Privacy Over IRS As It Fights Tax Compliance Dispute

San Francisco-based cryptocurrency exchange Kraken is engaged in a legal battle with the IRS over the agency's request for user data. Kraken argues that the IRS's demands go beyond what is necessary and is determined to protect its clients' privacy.

Binance completes integration of Bitcoin Lightning Network

Binance has successfully integrated Bitcoin on the Lightning Network, allowing users to use the layer-2 scaling solution for Bitcoin withdrawals and deposits. This integration comes after Binance temporarily paused BTC withdrawals due to a surge in pending transactions.

BlackRock’s Larry Fink says crypto will transcend any one currency

BlackRock CEO Larry Fink believes that cryptocurrency will transcend any one currency due to its international nature. Fink stated that crypto has a differentiating value compared to other asset classes and can overcome the depreciation and appreciation of traditional currencies.

US 'dominates' crypto startup funding in Q2: Report

Despite regulatory scrutiny, US-based crypto startups received nearly half of all capital investments in the second quarter of the year, according to a report by Galaxy Digital. The report also highlighted a decline in the total amount of capital invested in crypto and blockchain startups.