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SEC's ETF Deliberation, Treasury's Stance on Crypto Terrorism, and Lawmakers Rally for Action

SEC's ETF Deliberation, Treasury's Stance on Crypto Terrorism, and Lawmakers Rally for Action

SEC Chair Gary Gensler confirms the agency's dedication towards evaluating multiple applications for bitcoin ETFs, reflecting the growing interest of major asset managers.

Mike Gavela
October 18, 2023

Crypto Roundup - Oct 18

In the dynamic landscape of cryptocurrency, SEC Chair Gary Gensler confirms the agency's dedication towards evaluating multiple applications for bitcoin ETFs, reflecting the growing interest of major asset managers. As the cryptocurrency world pushes boundaries, the U.S. Treasury remains vigilant, imposing sanctions on a Gaza-based crypto exchange, Buy Cash Money and Money Transfer Company, citing their support for Hamas's activities. Senator Elizabeth Warren and over a hundred fellow lawmakers pivot on this trend, pressing the Biden administration for a comprehensive strategy against the potential misuse of cryptocurrency in terror financing.

Top Highlights:

SEC's In-depth Review: Gary Gensler confirms the agency's active evaluation of multiple bitcoin ETF filings.
Targeting Terrorism Finance: U.S. Treasury sanctions Gaza's Buy Cash Money and Money Transfer Company for links to Hamas.
Lawmakers Speak Up: Sen. Elizabeth Warren leads a significant group expressing concerns over crypto's potential in financing terrorism.

SEC Chair Gensler says agency staff 'doing work' on multiple bitcoin ETF filings

SEC Chair Gary Gensler said Wednesday that agency staff is continuing to review multiple applications for spot bitcoin ETFs.

www.theblock.co/post/258226/sec-chair-gensler-says-agency-staff-doing-work-on-multiple-bitcoin-etf-filings

U.S. Treasury Targets Gaza Crypto Business in Sanctions to Squeeze Hamas

The Treasury Department issued a list of sanctions that included a business providing money transfers and digital assets exchange services in Gaza.

www.coindesk.com/policy/2023/10/18/us-treasury-targets-gaza-crypto-business-in-sanctions-to-squeeze-hamas

Sen. Elizabeth Warren joins more than 100 lawmakers to ask Biden about plans to prevent crypto-financed terrorism

Sen. Elizabeth Warren, along with others, say they are concerned about how Hamas raised millions of dollars through cryptocurrency.

www.theblock.co/post/258183/sen-elizabeth-warren-joins-more-than-100-lawmakers-to-ask-biden-about-plans-to-prevent-crypto-financed-terrorism

Sui trades near all-time low amid report of South Korean regulator probe

Sui hit an all-time low after a report that South Korean regulators are investigating alleged token supply manipulation.

www.theblock.co/post/258122/sui-trades-near-all-time-low-amid-report-of-south-korean-regulator-probe

Crypto holdings of banks must be public by 2025: Basel watchdog

The Basel Committee on Banking Supervision (BCBS) released draft guidelines on Tuesday featuring standardized disclosure templates.

blockworks.co/news/banks-crypto-holdings-disclosure

Why Grayscale and miners are outperforming Bitcoin’s 72% surge this year

Grayscale has soared, while Riot is up 177% year-to-date, while Marathon is up 136%, Hut has risen 8 125%, and Hive has jumped 108%

www.dlnews.com/articles/snapshot/why-grayscale-and-bitcoin-miners-are-outperforming-bitcoin

‘This is a joke,’ Judge Kaplan scolds lawyers: SBF trial live updates

Professor Peter Easton kicks off Wednesday’s trial, with the prosecution telling the court they plan to wrap their case by next week.

blockworks.co/news/sam-bankman-fried-trial-day-11

Crypto World Hopeful as California Chases BitLicense in Absence of U.S. Feds

The BitLicense axis between New York and California may draw in other jurisdictions as the states solidify their position as the only regulatory option for crypto businesses in the U.S.

www.coindesk.com/policy/2023/10/18/crypto-world-cautiously-hopeful-as-california-acts-in-absence-of-us-feds

Kraken co-founder: Reddit shouldn't destroy value of community tokens while 'offering nothing in return'

Jesse Powell's comments came in response to Reddit's decision to pull the plug on its blockchain-based reward service Community Points.

www.theblock.co/post/258148/kraken-co-founder-reddit-shouldnt-destroy-value-of-community-tokens-while-offering-nothing-in-return

Elixir Protocol secures $7.5 million Series A at $100 million valuation

Elixir Protocol has closed a $7.5 million Series A fundraising round at a $100 million valuation, led by Hack VC.