FameEX Morning Crypto News Recap | June 14, 2024

SEC Chairman Anticipates ETH Spot ETF S-1 Approval by Late Summer

Forbes reporter Eleanor Terrett wrote that SEC Chairman Gary Gensler mentioned in a conversation with Senator Bill Hagerty that he expects the ETH spot ETF S-1 to be approved by late summer.

Tether CEO Claims Bitcoin is the Sole Decentralized Cryptocurrency

On June 13, Tether CEO Paolo Ardoino stated in an interview that despite the presence of over 14,000 cryptocurrencies in the market, Bitcoin remains unique as the only truly decentralized cryptocurrency.

Terraform Settles with SEC for $4.47 Billion

U.S. District Court Judge Jed Rakoff approved a $4.47 billion settlement between Terraform and the SEC. Terraform will pay nearly $3.6 billion in fines, $420 million in civil penalties, and $467 million in interest. Do Kwon, associated with Terraform, agreed to pay $110 million in fines, $14.3 million in interest, and $80 million in civil penalties.

Australia to Include Stablecoins in Digital Asset Legislation

Australian regulators plan to include stablecoins in digital asset legislation. The Australian Securities and Investments Commission has met with regulators like the U.S. SEC to discuss cryptocurrency legalities. The Australian Treasury aims to release draft legislation by the end of 2024, covering crypto asset provider licensing and custody rules, potentially including a stablecoin regulatory framework.

US Senator Bill Hagerty Urges SEC to Prioritize Clarity in Cryptocurrency Regulation

U.S. Senator Bill Hagerty urged the SEC to provide clarity in cryptocurrency regulation to build a proper ecosystem and prevent the industry from moving overseas. SEC Chairman Gary Gensler responded that not liking the law differs from a lack of clarity. Hagerty emphasized the existing uncertainty and lack of clarity at the SEC, stating it is unnecessary.

EBA Releases Draft Technical Standards on Prudential Issues under Crypto-Asset Markets Regulation

The European Banking Authority (EBA) has released the final draft of technical standards for prudential matters under the Markets in Crypto-Assets (MiCA) regulation. These standards encompass stress testing programs, liquidity requirements for reserve assets, and recovery plans that issuers must prepare, aiming to ensure firms comply with MiCA's regulatory framework.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.