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Produced by Daniel Aharonoff & Mogul Media AI

Coinbase Critiques U.S. Treasury's Cryptocurrency Mixing Rule: Regulatory Gaps and Solutions

As the U.S. Treasury's proposed rulemaking on cryptocurrency mixing comes under scrutiny, Coinbase has not shied away from expressing its concerns. The company has made it clear that it believes the proposed rules fall short in addressing regulatory gaps, while also placing an undue burden on crypto platforms. Here are some key points raised by Coinbase in response to the proposed rulemaking: Criticisms of the Proposed Rulemaking: Fails to address regulatory gaps in the cryptocurrency space. Demands excessive amounts of data and resources from crypto platforms. The requirement to report all crypto mixing activities, regardless of legitimacy, is deemed inefficient by Coinbase. Coinbase's Suggestions: Implementation of a monetary threshold for reporting crypto mixing activities. Focus on assisting exchanges in meeting their existing obligations, rather than enforcing mandatory bulk reporting rules. By highlighting these issues and proposing alternative solutions, Coin
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Produced by Daniel Aharonoff & Mogul Media AI

Understanding the SEC's Deadline Extension for Fidelity's Ethereum ETF: Expert Analysis and Predictions

The U.S. Securities and Exchange Commission (SEC) has extended the deadline for a decision on Fidelity's proposed spot Ethereum ETF to March 5. The SEC stated in a Thursday filing that it requires additional time to thoroughly review the proposed rule change and the related concerns raised. Bloomberg Intelligence ETF analyst James Seyffart noted that the delay was expected, highlighting late May as the significant timeframe. Seyffart's colleague Eric Balchunas expressed optimism about the approval of an Ethereum ETF in 2024, citing a 70% chance of approval by May. Balchunas emphasized that the SEC's previous approval of Ethereum futures ETFs has created pressure for approving a spot ETF to avoid legal repercussions, similar to the situation with Bitcoin ETF applications. SEC Chair Gary Gensler, following the recent approval of spot Bitcoin ETFs, clarified that the decision was specific to ETPs holding non-security commodities like Bitcoin and does not indicate a broader approval stance towards crypto asset securities. Gensler refrained from definitively categorizing Ethereum as a security or commodity during his tenure as SEC chair.

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