The United States SEC has again delayed the approval of Bitcoin ETFs due to possible fraud in the market.
The United States Securities and Exchange Commission (SEC) has once again taken a step back regarding its decision on Bitcoin ETF applications that were submitted by three major financial entities: BlackRock, Valkyrie and Bitwise. This delay increases uncertainty around the relationship between traditional finance and cryptocurrencies.
The reason behind this delay by the SEC is related to concerns about possible fraudulent activities. As well as the manipulations that may exist in the crypto market. Now, the SEC is requesting a deeper review of the legal and policy ramifications surrounding these applications. The agency has also invited the public to submit additional comments, expressing doubts about the robustness of liquidity in the Bitcoin market.
VanEck Is Already Promoting the Launch of Its Ethereum Futures ETF
Investment management firm VanEck has begun promoting its upcoming Ethereum futures Exchange Traded Fund (ETF). As we previously reported, some analysts have indicated that it could be available this week.
In this sense, VanEck made two television advertisements with the title “Enter the Ether” in which he reported on the upcoming arrival of his Ethereum Strategy ETF, identified with the symbol EFUT. These announcements coincided with a press release from VanEck about the EFUT ETF, which will be listed on the Chicago Board Options Exchange.
Circle Interferes in Binance and SEC Case Arguing That Stablecoins Should Not Be Considered Securities
Stablecoin issuer Circle has intervened in the SEC case against cryptocurrency exchange Binance. Circle maintains that financial trading laws should not apply to stablecoins whose value is pegged to other assets.
Likewise, Circle now claims that dollar-pegged assets, such as BUSD and its own currency USDC, cannot be considered securities, in part because its users do not expect to profit from independent purchases.
In the presentation cited by news outlet CoinDesk, Circle noted the following:
“Payment stablecoins, on their own, do not have the essential characteristics of an investment contract. Decades of case law support the view that an asset sale (unrelated to any post-sale promise or obligation on the part of the seller) is not sufficient to establish an investment contract.”
The US Securities and Exchange Commission (SEC) sued Binance and its CEO Changpeng Zhao in June accusing them of multiple violations of federal laws for operating without registration and facilitating the trading of cryptocurrencies as unregistered securities, including Solana (SOL), Cardano (ADA) and the BUSD stablecoin.
The CIA Will Include AI in Its Own Chatbot
Artificial intelligence (AI) is making its way into US intelligence agencies, and the CIA has announced its foray into this field by developing its own AI chatbot, similar to the popular ChatGPT. Although still unnamed, this tool will be trained using publicly accessible data and aims to provide quick support to US spies to efficiently verify information.
North American intelligence agencies are preparing to obtain a new tool with which to filter all the information that can be handled on the network. According to Bloomberg, the CIA is in the final phase of developing a chatbot similar to the proposals known today, such as ChatGPT or Bing Chat. However, its purpose is very different from that intended for these platforms.
By Audy Castaneda