FameEX Morning Crypto News Recap | June 14, 2024

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

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

Tether CEO Asserts Bitcoin is the Only Decentralized Cryptocurrency

On June 13, Tether CEO Paolo Ardoino stated in an interview that, despite the existence of over 14,000 cryptocurrencies, Bitcoin stands out as the only truly decentralized cryptocurrency.

Terraform Agrees to $4.47 Billion Settlement with SEC

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

Australia to Integrate Stablecoins into Digital Asset Legislation

Australian regulators plan to include stablecoins in digital asset legislation. The Australian Securities and Investments Commission has consulted with the U.S. SEC on 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 Presses SEC to Enhance Clarity in Crypto Regulation

U.S. Senator Bill Hagerty urged the SEC to clarify cryptocurrency regulations to build a proper ecosystem and prevent the industry from moving overseas. SEC Chairman Gary Gensler responded that disliking the law is different from a lack of clarity. Hagerty stressed that the current uncertainty at the SEC is unnecessary.

EBA Issues Draft Technical Standards on Prudential Matters for Crypto-Asset Markets Regulation

The European Banking Authority (EBA) has issued the final draft of technical standards for prudential matters under the Markets in Crypto-Assets (MiCA) regulation. These standards include stress testing programs, liquidity requirements for reserve assets, and recovery plans that issuers must prepare, ensuring compliance 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.​