FameEX Morning Crypto News Recap | November 14, 2023

Tether Mints 4 Billion USDT in Only Four Weeks

Over the past month, Tether has generated 4 billion USDT, accounting for nearly 18% of the total USDT issued in 2023. Paolo Ardoino, Tether's CTO and newly appointed CEO, addressed Whale Alert data on X (formerly Twitter), clarifying that the recent 1 billion USDT transaction on the Tron network was intended to replenish USDT reserves.

Indian Supreme Court Rejects Crypto Petition, Stresses the Need for Legislative Action

The Indian Supreme Court, led by Chief Justice of India (CJI), dismissed a Public Interest Litigation (PIL) aimed at establishing cryptocurrency trading regulations and guidelines within India. The court cited the petitioner's requests as primarily legislative in nature, suggesting that these issues should be handled through the legislative process rather than judicial intervention.

BlackRock Asserts SEC Should Treat Crypto Futures and Spot ETFs Equally

The SEC distinguishes between crypto futures and spot ETFs, citing the 1940 Act's stronger regulation for the former compared to the 1933 Act governing spot-crypto ETFs. BlackRock has raised objections to the SEC's favoritism toward the 1940 Act, arguing its lack of applicability to both crypto spot and futures ETFs, sparking a discussion about regulatory differentiation.

Spanish Regulatory Body Suggests Potential Probe into Cryptocurrency Advertisements

Spain's securities market regulator, the CNMV, stressed the role of social media platforms in combating promotions of unlicensed investment products, specifically fraudulent cryptocurrency assets on platforms like X (formerly Twitter). The regulator also emphasized the need for companies to comply with local advertising laws.

Upcoming Hearing: US House Financial Services Committee's Focus on Combating Illicit Activity in Cryptocurrency

The US House Financial Services Committee has scheduled a hearing for November 15 to delve into illicit activities in the cryptocurrency sector. The primary focus of the hearing will center on discussions concerning illicit activities, specifically money laundering and terrorism financing, within the cryptocurrency ecosystem.