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Many on Twitter compared the Binance settlement with the U.S. Department of Justice to the deal with BitMEX crypto exchange, whose then-CEO was also forced to step down. The crypto community on social media has greeted the news of the deal between Binance, CZ and the United States Department of Justice (DOJ) mostly positively, hoping it removes one of the last remaining obstacles before the long-awaited approval of a spot Bitcoin ETF. The $4.3 billion settlement between the U.S. and the world’s largest crypto exchange, Binance, for violating U.S. anti-money laundering laws includes a plea deal whereby the former CEO Changpeng “CZ” Zhao, has agreed to step down as the CEO of the exchange. The news of the deal and CEO's departure led to a market correction that saw some $175 million worth of leveraged crypto positions liquidated, while close to $1 billion in crypto assets flowed out of the crypto exchange. Over 1 billion dollars of outflows out of @Binance in the last 24 hours pic....

The SEC must appeal Grayscale’s win in a D.C. Appeals Court on Oct. 13, or it will have to approve — or try to delay — the firm’s Bitcoin ETF bid. The United States Securities and Exchange Commission will soon reach its deadline to appeal the court decision that ruled in favor of Grayscale Investments, forcing the regulator to review the fund manager’s application for a spot Bitcoin (BTC) fund. While many observers don’t believe the securities regulator will attempt to appeal the court’s decision, analysts say there could still be ways for the SEC to delay approval of Grayscale’s spot Bitcoin ETF conversion. On Oct. 13, the SEC must either appeal the D.C. Circuit Court of Appeals decision to the U.S. Supreme Court, request the Appeals Court revisit its ruling , or follow the court’s August order and review Grayscale’s bid to change its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF. In an Oct. 12 post responding to an X user's question, Bloomberg ETF analyst Eric Balcun...

Coinbase To Offer Regulated Crypto Futures Trading in the US Coinbase Financial Markets secured regulatory approval from the National Futures Association to operate as a Futures Commission Merchant (FCM). It will make Coinbase to directly offer crypto futures trading to its customers in the U.S., according to an official blog post on August 16. advertisement “This is a critical milestone that reaffirms our commitment to operate a regulated and compliant business and be the most trusted and secure crypto-native platform for our customers.” Coinbase filed an FCM registration application with the NFA in September 2021. The crypto exchange has worked with the regulators to comply with all CFTC’s regulations and customer protection requirements. The company plans to work with regulators to receive approvals for its products to advance economic freedom. Also, it supports building the most trusted and secure products and services. US customers ca...

Also Read: Ripple Powering Top Indian Bank’s Digital Rupee Project advertisement Meanwhile, the XRP price recovered very well since the beginning of 2023, clocking the $0.54 level at the end of March 2023. In recent times, the focus in the XRP lawsuit shifted to the Hinman speech linked documents, with many questions raised in the crypto community. How Long Before XRP Lawsuit Judgement While it has been about 110 days since the last ruling, the average time taken by federal judges to deliver summary judgements is about 166 days. According to an Analysis on civil case processing in the federal courts by University of Denver, “For all summary judgment motions, the mean time to rule was 166 days, but the variation across courts was even more pronounced: from a low of 63 days on average in the fastest court to a high of 254 days on average in the slowest court.” Recommended Articles ...

Also Read: Will Mark Cuban Speak On Crypto Before US Senate? advertisement In the Ripple Vs SEC lawsuit, as many as 16 companies filed an amicus curiae. The XRP community is awaiting the all important Summary Judgement from Judge Analisa Torres. Coinbase Lawsuit Amicus Curiae: More Users To Join? The main agenda behind attempting to gain amicus status is to help make user voices heard while the Crypto exchange is defending itself in the lawsuit. Since asking for user details for amicus curiae on June 9, Deaton managed to unite around 1,500 users so far in the Coinbase lawsuit. The attorney reiterated, “This isn’t about helping Coinbase . It’s about speaking up if you believe these regulators aren’t protecting you or you don’t want their type of protection.” Recommended Articles Crypto Presale Projects For 2023 To Invest; Up...

Also Read: Do Kwon To Be Released From Jail As Court Accepts $436K Bail advertisement Meanwhile, the XRP token holder community, which has been loyal despite the legal process with the SEC lawsuit, is awaiting the summary judgment from Judge Analisa Torres, who is overseeing the case. Ripple Chief Legal Officer Blasts Gary Gensler Alderoty made the comments in reference to the SEC’s legal battle with Ripple , calling it the agency’s usage of judicial process as a “weapon to be wielded.” He added that it was not actually a crypto problem but a constitutional problem, indicating to the preamble of the constitution of the United States . “For this SEC Chair the judicial process is a weapon to be wielded and Congressional oversight is a game of hide and seek. This isn’t a crypto problem, this is a “We The People” problem.” Trending Stories This Bullish Pattern ...