FameEX Morning Crypto News Recap | November 14, 2023

Tether, the Stablecoin Company, Generates 4 Billion USDT in Just Four Weeks

Tether, in the last month, has created 4 billion USDT, constituting almost 18% of the total USDT issued in 2023. Paolo Ardoino, Tether's CTO and new CEO, responded to Whale Alert data on X (formerly Twitter), explaining that the recent 1-billion-USDT transaction on the Tron network was aimed at replenishing USDT inventory.

Indian Supreme Court Dismisses Crypto Petition, Emphasizes Legislative Dimension

The Indian Supreme Court, under the leadership of Chief Justice of India (CJI), rejected a Public Interest Litigation (PIL) seeking the establishment of cryptocurrency trading regulations and guidelines in India. The court reasoned that the petitioner's requests were essentially legislative in nature, indicating that such matters should be addressed through the legislative process rather than judicial intervention.

BlackRock Contends SEC Shouldn't Distinguish Between Crypto Futures and Spot ETFs

The SEC differentiates between crypto futures and spot ETFs due to perceived stronger regulation for the former under the 1940 Act compared to the 1933 Act governing spot-crypto ETFs. BlackRock challenged the SEC's preference for the 1940 Act, contending that it lacks relevance for both crypto spot and futures ETFs, prompting a debate on regulatory distinctions.

Spanish Regulator Hints at Possible Investigation into Crypto Advertising

The CNMV, Spain's securities market regulator, emphasized the responsibility of social media networks in combating promotions of unlicensed investment products, particularly fraudulent crypto assets on platforms like X (formerly Twitter). The regulator also reiterated the importance of companies adhering to local laws in their advertising practices.