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Bloomberg ETF analyst James Seyffart thinks Grayscale’s Ether futures ETF application is just a ploy to corner the SEC to approve its spot Ether ETF. Grayscale Investments is using its Ether (ETH) futures exchange-traded fund (ETF) application as a “trojan horse” to corner the United States Securities and Exchange Commission into approving its spot Ether ETF, says Bloomberg ETF analyst James Seyffart. Seyffart said in a Nov. 15 X (Twitter) post following the SEC delaying Grayscale’s ETH futures ETF bid that he believes if the SEC approves Grayscale’s application, then it would enable Grayscale to argue for the approval of its spot Ether ETF application. If the SEC denies Grayscale’s bid, the asset manager could argue the SEC is treating Bitcoin (BTC) and Ether futures ETFs differently by allowing one under the Securities Act of 1933 but not the other. “Watch [the SEC] try to either approve and argue why this is different from spot. Or Deny and argue why 1933 act products are meaning...

In their filing, the legal practitioners advocated for the Court to steadfastly adhere to the established definition of the term 'investment contract' when interpreting its scope. A group of six legal scholars specializing in securities law and related domains have submitted an amicus brief in favor of crypto exchange Coinbase in its legal battle against the U.S. Securities and Exchange Commission (SEC). An amicus brief is a legal instrument submitted to the court which originates from a party not directly engaged in the pertinent case. Its typical purpose is to provide supplementary arguments in favor of one side of the lawsuit while underscoring the wider implications that the case may carry beyond the immediate litigants. The group of legal scholars presented their amicus brief to the U.S. District Court situated in the Southern District of New York. Leveraging their understanding of securities laws, they embarked upon the task of shedding light on the intricate historica...

The purpose of the legislation is to establish a framework for licensing and regulating virtual asset service providers. Namibia has joined other African nations in embracing cryptocurrencies and digital assets with the approval of a bill by the Namibian National Assembly. The bill which was passed on June 22, aims to regulate digital assets, cryptocurrencies and the providers of digital asset services within the country, signaling a positive outlook for the industry. The purpose of the legislation is to establish a framework for licensing and regulating virtual asset service providers. It also aims to designate a regulatory authority responsible for supervising these providers and their activities. The main objectives include ensuring consumer protection, preventing market abuse, mitigating the risks of money laundering, financing terrorism and proliferation activities associated with virtual asset markets. The law also covers incidental matters related to these objectives. Screens...

South Korea’s crypto bill aims to establish a basis for imposing penalties and liability for damages caused by unfair cryptocurrency trading. South Korea’s government is taking steps to protect crypto currency investors from implosions like Do Kwon’s Terra ecosystem by passing a new crypto bill. On June 30, the National Assembly passed the Virtual Asset User Protection legislation. The bill is designed to regulate unfair trade practices and protect crypto investors, the local news agency SBS Biz reported. The legislation reportedly integrates 19 crypto-related bills, providing a unified bill defining digital assets and imposing penalties for illicit trading activities like using undisclosed information, market manipulation and other unfair trading practices in crypto. According to local media, the main point of the Virtual Asset User Protection Act is to apply the Capital Market Act first to virtual assets with a securities nature. The legislation also aims to establish a basis for...

The hacker committed a $196 million flash loan attack on the Ethereum-based lending protocol on March 13. Ethereum-based noncustodial lending protocol Euler finance is trying to cut a deal with the exploiter that stole millions from its protocol, demanding the hacker returns 90% of the funds they stole within 24 hours or face legal consequences. The platform was exploited for $196 million on March 13 and Euler Labs sent its ultimatum to the flash loan attacker by transferring them 0 Ether (ETH) with an attached message on March 14: “Following up on our message from yesterday. If 90% of the funds are not returned within 24 hours, tomorrow we will launch a $1M reward for information that leads to your arrest and the return of all funds.” euler just sent an on-chain message to the hacker pic.twitter.com/0wKIW51NjM — 0xngmi (llamazip arc) (@0xngmi) March 14, 2023 The threat of law enforcement comes as Euler sent the hacker a much more civil message the day before. “We understand yo...