Sunday, May 26, 2024

Bitcoin May Not Be A Security But Crypto Regulation Will Be Given

During a CNBC interview with Jay Clayton, former president of the SEC, he assured that the fact that Bitcoin is not a security does not mean that it will be saved from crypto regulation.

Crypto regulation is coming
As you may recall, if you follow CryptoTrend closely, Jay Clayton is One River Asset Management’s current cryptocurrency advisor. In this sense, Clayon assured that the fact that “Bitcoin is not a security does not mean that it should not be regulated.”

He further added that, “ indeed, where digital assets land at the end of the day, which is a wide-ranging issue, will be driven in part by regulation, both national and international, and I hope, and I speak as a citizen now, that regulation. It will come into this area both directly and indirectly, either through how banks, security accounts, taxes and the like are maintained . ‘

Something very important about what Clayton mentioned is that, without a doubt, the regulation of the crypto market will determine its future.

Coinbase to go public on April 14
Coinbase, one of the leading crypto exchanges in the market, has announced that its direct listing will take place on April 14. Yes, that fast.

According to the Coinbase blog, the SEC has declared the crypto exchange’s S-1 registration effective for a public offering. So its Class A shares are expected to trade on the Nasdaq Global Select Market under the ticker symbol “COIN.”

Morgan Stanley, in its latest filing with the SEC, stated that it had updated the “Investment Policies and Strategies” section for 12 institutional portfolios.

So basically, the update allows Morgan Stanley Institutional Fund Inc. to add Bitcoin to various portfolios via Grayscale Bitcoin Trust and cash settled futures. In this sense, twelve funds under the title of the Institutional Fund will be able to access these products related to the leading crypto.

In addition, the documents state that each fund can invest up to 25% of its total assets in these products through subsidiaries.

The National Securities Market Commission (CNMV) of Spain wants to introduce stricter regulatory rules related to outdoor advertising that promotes the crypto market, explained Rodrigo Buenaventura, president of the CNMV, during a conference .

In this sense, Buenaventura classified the ads on crypto assets as “risky.” Likewise, “it is necessary to emphasize that what the CNMV controls are not assets, suppliers or operations, but only advertising when they are offered as an investment alternative ,” Buenaventura said.

In a few lines …
Cosmos has launched the long-awaited Inter Blockchain Communication (IBC), this will allow users to transfer crypto assets between independent Blockchains.
CME Group announces the May 3 launch of its micro crypto futures on Bitcoin.

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