Bitcoin News and Finance: What You Need to Know

The United States District Court for the District of Utah has expressed concerns that the U.S. Securities and Exchange Commission (SEC) is making “materially false and misleading representations” in its lawsuit against a crypto firm. T he court has ordered the securities regulator to show cause why it should not be subject to sanctions. Court Threatens to Sanction SEC The U.S. Securities and Exchange Commission (SEC) is facing renewed scrutiny for its actions in yet another legal battle involving a cryptocurrency firm. The United States District Court for the District of Utah issued an order to show cause in the SEC v. Digital Licensing Inc. dba Debt Box, et al. case on Nov. 30, demanding the securities watchdog justify its actions. The court called out the SEC for making “materially false and misleading representations” and warned of potential sanctions if the regulator fails to provide adequate justification. The order states: The court orders the Commission to show cause why t...

A senior director with Moody’s Analytics has highlighted the biggest driver behind the recent bitcoin price surge. “The race is heating up” to launch spot bitcoin exchange-traded funds (ETFs), he explained, emphasizing that large asset managers are “getting ready to acquire the underlying asset to offer the ETF to retail and institutional investors.” Biggest Driver Behind Bitcoin Price Surge Yiannis Giokas, a senior director with Moody’s Analytics, has provided insights into the factors behind the recent surge in bitcoin’s price, highlighting the anticipated approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). Moody’s Analytics is a subsidiary of Moody’s Corp. that focuses on non-rating activities. “The biggest driver behind the surge in bitcoin price is likely the number of applications for spot BTC ETF which are expected to be approved by the SEC January,” the director said in an email to Bitcoin News. He added: The race i...

The U.S. Securities and Exchange Commission’s former head of internet enforcement believes that there are two reasons why crypto prices are up. The first concerns regulatory oversight of the cryptocurrency industry, while the second revolves around the concept of the greater fool theory. The former SEC official also dismissed the reported 90% likelihood of the SEC approving a bitcoin spot ETF as “absolutely absurd.” Stark Explains Why Crypto Prices Are Up Former U.S. Securities and Exchange Commission (SEC) official John Reed Stark shared his view on why the price of bitcoin has rallied in a lengthy post on social media platform X Monday. Stark is currently president of cybersecurity firm John Reed Stark Consulting. He founded and served as chief of the SEC Office of Internet Enforcement for 11 years. He was also an SEC enforcement attorney for 15 years. The former SEC internet enforcement chief detailed: Crypto prices go up for two reasons: First, because there is no regulatory...

Blackrock, the world’s largest asset manager, and Bitwise have filed an amendment to their spot bitcoin exchange-traded fund (ETF) applications with the U.S. Securities and Exchange Commission (SEC). The SEC has held meetings with exchanges and spot bitcoin ETF issuers regarding their applications. “Both the SEC and these issuers are working hard to iron things out,” said a Bloomberg analyst. Spot Bitcoin ETF Issuers Update Their Filings Two companies, Blackrock and Bitwise , filed an amendment to their spot bitcoin exchange-traded fund (ETF) applications with the U.S. Securities and Exchange Commission (SEC) on Monday. Commenting on the filings, Bloomberg analyst James Seyffart wrote on social media platform X: They’re just pouring in. We have another spot bitcoin ETF S-1 (prospectus) amendment tonight. This one is from Blackrock. SEC is obviously giving multiple issuers the same or very similar instructions. In another X post, he wrote: “Second S-1 (prospectus) amendment fro...