Among other news, two technology and cryptocurrencies titans, Elon Musk and Mark Cuban, are teaming up to challenge the US SEC.
Two of the most prominent figures in the world of technology and finance, Elon Musk and Mark Cuban, have decided to join forces in a legal challenge. The two have filed a shared “amicus curiae” brief with the U.S. Supreme Court to challenge the U.S. Securities and Exchange Commission’s (SEC) approach to its internal procedures. Specifically, the absence of juries.
The challenge brought by Elon Musk and Mark Cuban at the Supreme Court raises fundamental questions about fairness and due process in SEC proceedings. The outcome of this case could have significant implications for how the SEC approaches future cases. This is how the constitutional rights of the accused in financial matters are protected.
Grayscale Insists Once Again and Seeks to Convert GBTC into a Bitcoin Spot ETF before the US SEC
Digital asset management company Grayscale Investments has taken a bold step in its quest to convert its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin Exchange Traded Fund (ETF), filing a new application with the US SEC. Joined. This move follows significant previous victories in its efforts to obtain SEC approval.
On Thursday, October 19, Grayscale reiterated its strong interest in converting GBTC into a Bitcoin ETF. To accomplish this, the company filed a Form S-3, a simplified version of the traditional Form S-1. Indicating your confidence that you meet the necessary requirements to do so.
According to Grayscale’s official statement, the company is eligible to use Form S-3 because “its shares have been registered under the Securities Exchange Act of 1934 since January 2020 and meet the other requirements.”
Aptos Celebrates First Mainnet Anniversary with Temporary Outage
The Aptos (APT) blockchain network had cause for celebration as it marked its first anniversary since the launch of its mainnet network. However, the joy was momentarily dampened by an outage that affected the system for more than five hours.
These blockchain outages have become more common in recent times. Let’s remember the stir that Solana, an Aptos competitor, caused last year due to its repeated crashes in the system.
Controversy in Congress over Financing for Terrorist groups and Cryptocurrencies
Senator Elizabeth Warren and other lawmakers have sparked controversy in recent weeks. This, by pointing out alleged connections between cryptocurrencies and the financing of terrorist groups, in particular, the Hamas group. This has generated a forceful response from US-based pro-cryptocurrency organizations.
On October 17, Senator Warren, along with more than 100 lawmakers, signed a letter calling for measures to “significantly restrict illicit crypto activity,” which was allegedly used to fund Hamas and Palestinian Islamic Jihad after an attack. against Israeli citizens.
Additionally, Warren, known for being a staunch critic of cryptocurrencies in the US Congress, wrote an op-ed in the Wall Street Journal on October 18 alongside Senator Roger Marshall, alleging that “crypto-financed terrorism” posed a threat. for American citizens by financing these groups and the production of illegal drugs.
However, the response from the cryptocurrency community has been overwhelming. This is the case of Yaya Fanusie, director of anti-money laundering at the Crypto Council for Innovation, who has argued that the solutions proposed by Warren do not address the problem that originates outside of US jurisdictions.
By Audy Castaneda
