Happy Saturday!
The US Securities and Exchange Commission has opted not to appeal a court ruling that may lead to Grayscale Investments launching a spot Bitcoin exchange-traded fund, according to media reports citing unidentified persons familiar with the matter. The CFTC has sued Voyager Digital’s former CEO, Ferrari will accept crypto payments for its luxury cars in the US, and Paolo Ardoino will become CEO of stablecoin company Tether. Read on!
SEC won’t appeal Grayscale ruling
The SEC won’t appeal a court ruling that may pave the way for Grayscale Investments to create a spot bitcoin exchange-traded fund, Reuters reported, citing a source familiar with the matter.
Bloomberg also reported that the SEC would not appeal, citing an unidentified person familiar. The August ruling was widely viewed by the crypto industry as a rebuke of SEC’s Chair Gary Gensler’s regulatory approach.
CFTC sues Voyager’s former CEO
Stephen Ehrlich, ex-CEO of bankrupt crypto lender Voyager Digital, broke derivatives rules that led to $1.7 billion in customer losses, the Commodity Futures Trading Commission alleged in a lawsuit, Bloomberg reported.
The CFTC claimed Erlich and Voyager “fraudulently solicited participation in and operated a digital asset trading and custody platform.”
Ferrari OKs US payments in crypto
Ferrari will accept crypto payments in the US for its cars and plans to do the same in Europe, Reuters reported, citing an interview with Ferrari’s marketing and commercial chief, Enrico Galliera.
Galliera said new software and increased use of renewable sources had reduced the carbon footprint of crypto. “Our target to reach for carbon neutrality by 2030 along our whole value chain is absolutely confirmed,” he was quoted as saying.
California crypto licencing bill signed
California Governor Gavin Newsom signed into law a licencing bill to regulate the state’s substantial crypto industry, Bloomberg Law reported.
Lawmakers wanted to establish crypto rules in the wake of last year’s bankruptcies and market troubles. With no federal action expected, state legislators moved to establish a basic regulatory framework.
Ardoino to become Tether CEO
Tether CTO Paolo Ardoino will take over in December as CEO of the stablecoin company, Decrypt reported, assuming the job held by Jean-Louis van der Velde.
Ardoino will also remain CTO of crypto exchange Bitfinex and chief strategy officer of Holepunch, an app development platform.
What we’re reading around the web
Solana still haunted by past FTX ties as SBF trial rages on — DL News
Is Hamas Using Crypto to Attack Israel? We Don’t Know — CoinDesk
Hong Kong police round up crypto influencers in hunt for ‘fraud syndicate’ at heart of JPEX — DL News