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U.S. legislator has proposed reducing the annual salary of Securities and Exchange Commission chair Gary Gensler to a mere one dollar. Representative Tim Burchett has put forth an amendment to the Financial Services and General Government (FSGG) bill, proposing to reduce SEC Chair Gary Gensler’s salary to $1 in an effort that aligns with a broader proposal to defund the regulator. The FSGG bill, introduced on July 13, encompasses a variety of measures designed to slash federal spending. Gensler, believed to earn over $300,000 annually for his role at the SEC, has become a focal point in this legislative push for fiscal prudence. Burchett was not the sole legislator advocating for reduced SEC funding, with the overarching bill proposing significant funding reductions for several government agencies. You might also like: SEC’s Gary Gensler advises crypto industry in Bitcoin whitepaper anniversary post Representative Steve Womack, presenting the bill to the House Rul...

The SEC has already dismissed charges against Ripple CEO Brad Garlinghouse and executive chair Chris Larsen, while the retail XRP sale ruling also went against the regulator. The United States Securities and Exchange Commission (SEC) has a very slim chance of winning the appeal against Ripple in the ongoing lawsuit, according to lawyer Bill Morgan, who has been closely following the lawsuit. Morgan in a post on X (formerly Twitter) argued that there is no obvious appellable error other than in “Ripple’s favour regarding ODL sales which don’t meet at least two prongs of the Howey test,” while adding there is a very slim chance of about 3% for SEC’s success in getting an appeal against Ripple. I don’t see any obvious appellable error other than in Ripple’s favor in respect of ODL sales which don’t meet at least two prongs of the Howey test. The SEC’s prospects of success on appeal are very slim and I feel generous today so I am giving it 3% chance of success on appeal https://t.co/FR...

In the latest turn of events in the SEC’s battle with crypto, the regulator will not appeal the court’s decision on Grayscale’s Spot Bitcoin ETF application, according to a source close to the regulator. Grayscale sought to convert its Bitcoin trust to a Spot Bitcoin ETF. The application came alongside many similar applications by digital asset companies and traditional finance entities. JUST IN: 🇺🇸 SEC will not appeal court's decision on Grayscale's #Bitcoin ETF. — Watcher.Guru (@WatcherGuru) October 13, 2023 The SEC has persistently fought against widespread crypto adoption without strict regulation throughout 2023. Asset managers like Fidelity and BlackRock are also seeking approval for their ETF applications. There is no certainty as to which direction the SEC could go with approving or declining these Spot Bitcoin ETF applications after Grayscale, or with future appeals. A spot bitcoin ETF gives investors exposure to the wo...

This week’s episode of Market Talks discusses why 2024 could be bullish for the crypto industry and if crypto has weathered the storm. This week’s episode of Cointelegraph’s Market Talks welcomes Huf, the founder of Pear Protocol, a new decentralized exchange launching on Arbitrum in 2023. Huf worked as an equity derivatives trader for various investment banks for over a decade before entering the decentralized finance industry in 2019. He is often quoted in various news outlets for his views on the markets, which he shares in real time via his X (formerly Twitter) profile. The show kicks off with Huf’s views on the current crypto market. Is it in need of a new stimulus and new money? Is it a closed system with the same money rotating from one protocol to the next or one blockchain to another? Is that the reason for such record-low volatility?  Do narratives drive the current crypto market? If so, how can a trader or investor make the right decisions based on those narratives? Huf ...

Insights into the Ethereum ETF Filing According to reports , a total of 7 new Ethereum-based ETFs have been filed including that from pioneer Volatility Shares.  advertisement Some of the big names that have joined the race to list Ethereum ETFs include Bitwise which filed its application for the Bitwise Ethereum Strategy ETF; Roundhill with Roundhill Ether Strategy ETF; VanEck with Ethereum Strategy ETF; Grayscale with the Grayscale Ethereum Futures ETF (ETHG), and; ProShares which filed two different applications including Short Ether Strategy ETF and Ether Strategy ETF respectively.  The quest for Ethereum ETF is quite justified considering the fact that the industry stakeholders are now currently anticipating the verdict on the first probable Bitcoin ETF product from the United States Securities and Exchange Commission (SEC).  A few months back, asset management behemoth BlackRock broke the stalemate when it applied to list a spot Bitcoin ETF...

U.S. stock markets hit year-to-date highs, the Fed pauses rate hikes, Binance.US and the SEC reach an agreement, but data shows Bitcoin bulls remain somewhat skittish. After a momentary retest of the $25,000 support on June 15, Bitcoin (BTC) gained 6.5% as bulls successfully defended the $26,300 level. Despite this, the general sentiment remains slightly bearish as the cryptocurrency has declined by 12.7% in two months. The dismissal of Binance.US's temporary restraining order by United States district court Judge Amy Berman Jackson is somewhat related to investors’ sentiment improving. On June 16, the exchange reportedly reached an agreement with the U.S. Securities and Exchange Commission (SEC), avoiding the freeze of its assets. On a longer timeframe, the global regulatory environment has been extremely harmful to cryptocurrency prices. Besides the SEC trying to unilaterally label exactly which altcoins it views as securities and litigating with the two leading global exchanges...

Bakkt Takes a Stance As reported by Fortune, the Georgia, United States digital currency platform took the stand to delist the three digital currencies based on the regulatory uncertainty hovering around them. The company’s General Counsel Marc D’Annunzio told Fortune it was taking action “until there is further clarity on how to compliantly offer a more extensive list of coins.” advertisement Bakkt, unlike mainstream digital currency trading platforms, is known to support just a streamlined list of digital currencies and the firm delisted the duo of Algorand (ALGO) and Decentraland (MANA) a few months back after the SEC filed a lawsuit against Bittrex.  With the crackdowns in the industry becoming more encompassing, Bakkt has chosen to stay on the side of caution and to effectively manage the small list of assets without controversy on its platform. At this time, Bakkt only supports the trading of Bitcoin (BTC), Ethereum (ETH), Dog...

Since Binance and Coinbase were sued for offering unregistered securities, Dorsey has tweeted posts promoting a focus on Bitcoin development. Long-time Bitcoin (BTC) advocate Jack Dorsey has found himself in a Twitter war with several crypto industry pundits after he responded with “yes” to a question asking if Ether (ETH) was a security . The comment caught the attention of Udi Wertheimer, a Bitcoin Ordinals developer at Taproot Wizards, who inferred Dorsey was a “clown” in a tweet on June 6. In response, Dorsey tweeted “ETH is not a security ? Teach me wizard,” which prompted Wertheimer to share a five-year-old video of the United States Securities Exchange Commission (SEC) chair Gary Gensler stating that ETH was now “sufficiently decentralized” and wasn’t a security . clowns. pic.twitter.com/S8AiJwuMem — Udi Wertheimer (@udiWertheimer) June 6, 2023 However, Gabor Gurbacs, strategy advisor to stablecoin issuer Tether and investment management firm VanEck weighed in on Werthei...