With less than a month for the US elections, some crypto events seem to be focused on regulation and politics.
Here are the updates from the crypto world.
With less than a month for the US elections, some crypto events seem to be focused on regulation and politics.
According to Cointelegraph, many panels included takes from high-level executives on their predictions in the Permissionless III conference in Salt Lake City, Utah, and Ripple Swell in Miami, Florida in October. The predictions were made for what would happen in the November race between Democrat Kamala Harris and Republican Donald Trump for the US presidency, and what the outcome could mean for the industry in 2025.
Many participants suggested that digital assets had become more of a mainstream issue in US politics in 2024 in a way never before seen. ,
In a Cointelegraph report, Ripple’s head of US public policy, Lauren Belive said “Every single panel is talking about regulations,”
“We’ve seen a much broader swath now of policymakers “We’ve seen a much broader swath now of policymakers really interested in the nuances of this technology.”
The United States Securities and Exchange Commission (SEC) on Oct. 18, approved applications from the New York Stock Exchange (NYSE) and the Chicago Board Options Exchange (CBOE) to list the long-anticipated options for spot Bitcoin BTC$68,265 exchange-traded funds (ETFs).
The NYSE will now offer options trading for the 11 sanctioned ETF providers, which include Fidelity Wise Origin Bitcoin Fund, ARK21Shares Bitcoin ETF, Invesco Galaxy Bitcoin ETF, and the Valkyrie Bitcoin Fund, etc.
An application was also filed by the Chicago Board Options Exchange to list options for the spot Bitcoin ETF providers in August 2024 through a proposed rule change. This regulatory policy adjustment puts Bitcoin ETF options alongside other commodity-based ETFs, which the SEC has approved for listing on the CBOE, except for Grayscale's Bitcoin Mini Trust.
A recent appeal by the U.S. regulator in its case against blockchain payments firm Ripple may prompt market participants to adopt a more risk-averse stance towards XRP in the short term, according to a crypto analyst.
The comments were made despite the appeal not directly contesting the ruling that XRP is not a security. The appeal requested the court to reconsider its decisions regarding Ripple’s XRP sales on exchanges and personal XRP sales by Ripple CEO Brad Garlinghouse and co-founder Chris Larsen.
The legal uncertainty could increase XRP’s price volatility, potentially causing the asset to fluctuate by nearly 50%, the analyst suggests.