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☆ What Grayscale’s bitcoin ETF victory over the SEC means for the cryptocurrency and an exhausted market
▼ + stars: | 2023-08-30 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Bitcoin jumped 7% on investor hopes that the ruling will pave the way for approval of one or more spot bitcoin ETFs from BlackRock, Fidelity, Invesco and others. Yet the SEC's commitment to regulation by enforcement under Gensler, rather than laying out clear rules, has left companies struggling and hindered new bitcoin investors. If Tuesday's ruling does open the door to the first spot bitcoin ETF in the U.S., that could eventually push crypto prices higher. Owen Lau, an analyst at Oppenheimer, cautioned that Grayscale's court victory "doesn't necessarily mean the SEC will approve Grayscale's conversion, or that there will be a floodgate of spot bitcoin ETF approvals in the near term." Regardless, Tuesday's court decision "is not enough" to bust the market out of its summer stupor, Lau added.

Persons: Bitcoin, it's, Ric Edelman, Gary Gensler, Edelman, Owen Lau, Oppenheimer, Lau Organizations: SEC, ., Appeals, Securities and Exchange Commission, Fidelity, Digital Assets, Financial Professionals Locations: BlackRock, U.S

☆ Bitcoin hits two-week peak after Grayscale spot bitcoin ETF ruling
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Representations of cryptocurrency Bitcoin are placed on a PC motherboard, in this illustration taken June 16, 2023. "Despite the inevitable SEC appeal, to our mind there is no doubt now, spot BTC ETFs are coming to the US. He also expects pent up U.S. demand to positively impact bitcoin prices and help global acknowledgement of crypto as a new asset class. The SEC last year rejected Grayscale's application for a spot bitcoin ETF, arguing the proposal did not meet anti-fraud and investor protection standards. So far this month and despite Tuesday's sharp gains, both bitcoin and ether were down 6% and nearly 8%, respectively.

Persons: Dado Ruvic, Tim Bevan, Gertrude Chavez, Dreyfuss, Tom Wilson, Alun John, Josie Kao Organizations: REUTERS, Securities and Exchange Commission, SEC, District of Columbia, BTC, ETC Group, U.S, Supreme, Fidelity, Federal Reserve, Thomson Locations: District, Washington, New York, London

A panel of judges in the District of Columbia Court of Appeals in Washington said the securities regulator's denial of Grayscale's proposal was arbitrary and capricious because the SEC failed to explain its different treatment between bitcoin futures ETFs and spot bitcoin ETFs. CRYPTO WINThe SEC rejected Grayscale's application for a spot bitcoin ETF in June 2022, arguing the proposal did not meet anti-fraud and investor protection standards. The court said in its ruling that the SEC failed to explain why it disagreed with Grayscale's assertion that the bitcoin spot and futures markets are 99.9% correlated. If the SEC chooses not to appeal, the court would issue a mandate specifying how its decision should be executed. That could include instructing the SEC to approve the application, or to revisit Grayscale's application, in which case the SEC could still reject the proposal on other grounds.

Persons: Dado, CRYPTO, Judge Neomi Rao, Hannah Lang, Chris Prentice, Paul Simao, Matthew Lewis Organizations: REUTERS, WASHINGTON, U.S . Securities, Exchange, District of Columbia, SEC, CRYPTO WIN, Fidelity, Appeals, U.S, Supreme, BlackRock, New, Thomson Locations: District, Washington, New York

☆ Bitcoin rallies more than 7% as court sides with Grayscale over the SEC in crypto ETF case
▼ + stars: | 2023-08-29 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

The price of bitcoin surged Tuesday after the U.S. Court of Appeals for the DC Circuit ruled that the Securities and Exchange Commission was wrong to deny crypto investment giant Grayscale permission to convert its popular bitcoin trust into an ETF. "Today's decision reaffirms that a bitcoin ETF in the U.S. is a matter of when, not if," said Steve Kurz, Global Head of Asset Management at Galaxy, which filed with Invesco for its bitcoin ETF. Grayscale initiated its lawsuit against the SEC in June 2022 after the agency rejected its application to turn its bitcoin trust, better known by its ticker GBTC, into an ETF. The company decided to pursue the ETF, which would be backed by bitcoin rather than bitcoin derivatives, after the SEC approved ProShares' futures-based bitcoin ETF in October 2021. The Grayscale Bitcoin Trust itself jumped 16%.

Persons: Bitcoin, bitcoin, it's, Steve Kurz, Invesco, Gary Gensler, —, Jesse Pound Organizations: Metrics, U.S ., Appeals, DC Circuit, Securities and Exchange Commission, SEC, Fidelity, Asset Management, Galaxy, SEC enforcements Locations: U.S, BlackRock

☆ Robinhood owns $3 billion in bitcoin, making it the 3rd-biggest holder of the token
▼ + stars: | 2023-08-29 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Robinhood has over $3 billion in bitcoin in a single wallet, a Coindesk report said. Citing data from Arkham Intelligence, the report said Robinhood is the third-largest bitcoin holder, behind Binance and Bitfinex. The trading platform's bitcoin stash is held in a single wallet. Robinhood sits just behind Binance and Bitfinex, which have $6.4 billion and $4.3 billion stored on single wallets, respectively, according to the report. Over a three-month period, per CoinDesk, Robinhood transferred around 118,000 bitcoins to the primary wallet from other smaller wallets.

Persons: Robinhood, CoinDesk, Bitcoin, bitcoin, Joe Kelly Organizations: Arkham Intelligence, Service, Securities and Exchange Commission, SEC Locations: bitcoin, Wall, Silicon

☆ Bitcoin jumps as US court gives a green light for first ETF
▼ + stars: | 2023-08-29 | by ( Allison Morrow | ) edition.cnn.com time to read: +1 min

New York CNN —The price of bitcoin surged Tuesday after a US court cleared a path for the nation’s first bitcoin exchange-traded fund. The ruling is a breakthrough moment for crypto investors and a setback for the Securities and Exchange Commission, which has been trying to rein in the industry. The three-judge panel for the DC Court of Appeals overruled an SEC decision denying Grayscale Invesments permission to launch a bitcoin-focused ETF. A bitcoin ETF would allow investors to have exposure to the digital asset without actually owning it. Bitcoin prices, which have been especially volatile in recent weeks, rose about 5% to $27,445.

Persons: bitcoin Organizations: New, New York CNN, Securities and Exchange Commission, DC, SEC Locations: New York

☆ Genesis, DCG reach in-principle deal with creditors - court filing
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

Aug 29 (Reuters) - Genesis Global and its parent company Digital Currency Group have reached an in-principle agreement with Genesis' creditors to resolve claims brought during the crypto lender's bankruptcy, a court filing showed on Tuesday. The deal includes a payment of about $630 million in unsecured loans due in May 2023 and a $1.1 billion unsecured promissory note due in 2032, along with some other potential claims. Genesis filed for bankruptcy in January owing at least $3.4 billion to creditors and reached an agreement in principle on a restructuring plan, supported by Digital Currency Group, and its primary creditors, including Gemini, in February. DCG, owned by Barry Silbert, owns a portfolio of crypto companies in addition to Genesis, including crypto news and events site CoinDesk and New York-based Grayscale, a major digital asset manager. Reporting by Lavanya Ahire in Bengaluru; Additional reporting by Akanksha Khushi; Editing by Rashmi Aich and Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.

Persons: Genesis, Barry Silbert, Lavanya, Akanksha Khushi, Rashmi Aich, Sohini Organizations: Genesis, Digital Currency Group, Gemini, Thomson Locations: U.S, York, DCG, New York, Bengaluru

☆ Bitcoin Jumps as Court Ruling Paves Way for Cryptocurrency E.T.F.
▼ + stars: | 2023-08-29 | by ( Ephrat Livni | More About Ephrat Livni | ) www.nytimes.com time to read: 1 min

Cryptocurrency prices jumped on Tuesday after the industry’s largest fund manager scored a legal victory in its long-running attempt to make it easier for investors to put Bitcoin in their portfolios. The U.S. Court of Appeals for the D.C. Circuit ruled that the Securities and Exchange Commission had improperly denied an application from the asset manager, Grayscale Investments, to create a Bitcoin exchange traded fund, calling the rejection “arbitrary and capricious.”Grayscale is seeking to create the fund to give investors exposure to the cryptocurrency via traditional brokers and markets rather than digital asset exchanges. has already approved funds that bet on Bitcoin futures, or price fluctuations in the cryptocurrency, but it has denied numerous requests for an E.T.F. holding Bitcoin itself, arguing that the markets are subject to fraud and manipulation.

Organizations: U.S, Appeals, Securities and Exchange Commission

☆ Treasury proposes crypto reporting rule to 'close the tax gap.' What it means for investors
▼ + stars: | 2023-08-29 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

oatawa | GettyAs the U.S. Department of the Treasury and IRS roll out proposed regulations for crypto tax reporting, experts say it's critical for investors to accurately report and track activity. Stemming from the 2021 federal infrastructure bill, the agencies on Friday unveiled the long-awaited tax reporting proposal for cryptocurrency, non-fungible tokens and other digital assets. It's part of a broader effort to "close the tax gap" and address crypto tax evasion, according to the Treasury. Similar to other tax forms, the regulations would require brokers to begin sending Form 1099-DA to the IRS and investors in January 2026, to report crypto activity from 2025. "But a lot of individuals are looking at six to seven figures, potentially, of crypto activity that they've never reported," he said.

Persons: —, there's, Andrew Gordon, Alex Roytenberg, they've Organizations: Getty, U.S . Department of, Treasury, IRS, Gordon Law Group

The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. Nasdaq's current CFO Ann Dennison is expected to step down from her role, the sources said, requesting anonymity as the matter is confidential. Youngwood, who has joint French-U.S. citizenship, was named group CFO at UBS in December 2021 and started in the role in May 2022. At JPMorgan, Youngwood held a variety of roles during her 25-year stint at the bank, according to her LinkedIn profile. Dennison joined Nasdaq in 2015 as chief accounting officer and was elevated to CFO in March 2021.

Persons: Sarah Youngwood, Ann Dennison, Youngwood, Dennison, Tal Cohen, Nelson Griggs, David French, Anirban Sen, Lisa Shumaker Organizations: Nasdaq, REUTERS, Nasdaq Inc, UBS Group AG, UBS, Credit Suisse, Swiss, JPMorgan Chase &, Consumer & Community, JPMorgan, Goldman Sachs, Thomson Locations: New York City, U.S, Swiss, New York

☆ LA media company settles first SEC enforcement case over NFTs
▼ + stars: | 2023-08-28 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

Signage is seen at the headquarters of the U.S. Securities and Exchange Commission (SEC) in Washington, D.C., U.S., May 12, 2021. The SEC said Impact Theory marketed its Founder's Keys--sold in "Legendary," "Heroic" and "Relentless" tiers--as a means to profit from its business by investing at an early stage. Impact Theory allegedly raised $29.9 million by selling 13,921 Founder's Keys in late 2021, and received $978,000 of royalties from secondary sales. The SEC said Impact Theory also compared its NFTs with "handing ($20) to Mark Zuckerberg in his dorm room," referring to the billionaire Facebook co-founder. SEC commissioners Hester Peirce and Mark Uyeda partially dissented from Monday's settlement, saying the regulator owed investors better guidance on NFTs.

Persons: Andrew Kelly, Disney, Mickey Mouse, Willie, Mark Zuckerberg, Antonia Apps, Hester Peirce, Mark Uyeda, Peirce, Uyeda, Nathaniel Chastain, Jonathan Stempel, David Gregorio Our Organizations: U.S . Securities, Exchange Commission, SEC, Washington , D.C, REUTERS, Los, U.S, Securities, Walt Disney, Disney, Facebook, Thomson Locations: Washington ,, Los Angeles, York, Manhattan, New York

The rule is part of a broader push by Congress and regulatory authorities to crack down on crypto users who may be failing to pay their taxes. It would also subject digital asset brokers to the same information reporting rules as brokers for other financial instruments, such as bonds and stocks, Treasury said. Brokers would need to send the forms to both the IRS and digital asset holders to assist with their tax preparation. The new requirements stem from the $1 trillion 2021 Infrastructure Investment and Jobs Act, which included a provision that aimed to increase tax reporting requirements for digital asset brokers. It instructed the IRS to define what firms qualified as crypto brokers and provide forms and instructions for reporting.

Persons: Dado Ruvic, Kristin Smith, Miller Whitehouse, Levine, Elizabeth Warren, Hannah Lang, Deepa Babington, Michelle Price Organizations: REUTERS, Internal Revenue Service, Treasury, Treasury Department, IRS, Investment, Jobs, Blockchain, DeFi, Democratic, Thomson Locations: U.S, Washington

☆ Bankrupt crypto exchange FTX picks Galaxy to manage its digital assets
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +1 min

FTX logo is seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 24 (Reuters) - Bankrupt crypto exchange FTX has hired U.S. crypto firm Galaxy as an advisor to help hedge and sell its crypto holdings, according to court filings made late on Wednesday. Hedging of bitcoin and ether will provide a means to lessen FTX's exposure to adverse price movements before their sale, the filing said. Galaxy, owned by billionaire investor Mike Novogratz, will also help "stake" FTX's crypto, a process where crypto is lent to validate blockchain transactions, earning interest in the process. FTX filed for bankruptcy in November 2022 in the wake of claims that the company misused and lost billions of dollars worth of customers' crypto deposits.

Persons: Dado Ruvic, FTX, Mike Novogratz, Brian Glueckstein, Shivani Tanna, Janane Organizations: REUTERS, Galaxy, Asset Management, Thomson Locations: Wilmington , Delaware, Bengaluru

☆ This Ugandan earns a bonus for each person he gets to sign up for Sam Altman's eyeball-scanning crypto project
▼ + stars: | 2023-08-24 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +12 min

The business-to-business software firm, which has a market cap of $11.5 billion, gave users the option of logging in with their World ID beginning in June. Social media app Discord also uses World ID for verification. But ultimately, the foundation envisions a future where a World ID could be used to facilitate nationwide votes, among other use cases involving banking and e-commerce. Ava Labs president John Wu tells CNBC that the self-custody feature of the Worldcoin ID is also critical. Despite his concerns, Mwangi ultimately chose to enroll in the project because he believed in the wider mission of the World ID.

Persons: Keneth Byarugaba, Byarugaba, Namureba Abel, Abel, Muvya Muthama, Muthama, Sam Altman, Peter Mwangi, I'm, Mwangi, They're, Worldcoin, John Wu, Wu, Ricardo Macieira, Annegret Hilse, hasn't, Byarugaba indoctrinates, it's, isn't, CNBC's Jordan Smith Organizations: Worldcoin, CNBC, cryptocurrency, Social, FBI, Reuters Locations: Uganda, Kampala, Nairobi, Kenya, web3, Chile, Europe, Berlin

The logo of non-fungible token (NFT) marketplace OpenSea is seen through a magnifying glass amid NFT items displayed on its website, in this illustration picture taken February 28, 2022. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsAug 22 (Reuters) - A U.S. judge sentenced a former product manager at OpenSea, the world's largest marketplace for non-fungible tokens (NFTs), to three months in prison on Tuesday for buying NFTs he knew would soon be featured on the site's home page. Nathaniel Chastain, 33, was convicted of fraud and money laundering in federal court in Manhattan in May for what prosecutors called the first insider trading case involving digital assets. Chastain's attorneys had asked for no prison time, saying he had already lost his reputation, job and equity in OpenSea worth millions of dollars. Prosecutors unsealed charges against Chastain in June 2022, after a boom in NFT sales saw the market grow to about $40 billion in 2021.

Persons: Florence Lo, Nathaniel Chastain, Chastain, Ishan Wahi, OpenSea, Jody Godoy, Grant McCool Organizations: REUTERS, Prosecutors, Global Inc, Court, Southern District of, Thomson Locations: U.S, OpenSea, Manhattan, Southern District, Southern District of New York, New York

☆ Funerals in China cost so much money that Beijing is encouraging digital cemeteries
▼ + stars: | 2023-08-20 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Beijing is encouraging digital burials instead of traditional ones, Bloomberg reported. What is a digital burial? Since the start of 2023, more than 500 digital plots like these have been sold in Beijing, Bloomberg reported, citing Beijing Jiuli Digital. Beijing is not the only city where digital burials are gaining traction. Digital burials save space, too.

Persons: Fu Shou Yuan, Fu Shou Organizations: Bloomberg, SunLife, Morning, The State Council, Beijing Jiuli Digital Locations: Beijing, China, Shanghai, SunLife, United

☆ ‘Bored Apes’ investors sue Sotheby’s, Paris Hilton and others as NFT prices collapse
▼ + stars: | 2023-08-17 | by ( Christy Choi | ) edition.cnn.com time to read: +5 min

CNN —A group of investors is suing Sotheby’s Holdings Inc. and others over a 2021 auction and promotion of Bored Ape Yacht Club non-fungible tokens (NFTs) following a collapse in prices for the celebrity-endorsed collectibles. Sotheby’s is among 30 defendants named in the lawsuit, with celebrities like Justin Bieber and Paris Hilton also accused of promoting the NFT collection without disclosing their financial links to it. A spokesperson for Yuga Labs meanwhile said, via email: “We believe that these new allegations, like those in the previous iteration of this opportunistic complaint, are completely without merit or factual basis. “As a media and technology company, Yuga Labs has empowered strong communities of enthusiasts and entrepreneurs to innovate, connect, and build. The Bored Ape Yacht Club, a collection of 10,000 NFTs hosted on the Ethereum blockchain, launched in April 2021.

Persons: Yuga, Justin Bieber, Paris Hilton, Sotheby’s, NFTs, “, Jack Dorsey’s, LeBron James, “ Beeple, ”, ” —, MoonPay Organizations: CNN, Sotheby’s Holdings Inc, Paris Hilton, Labs, Yuga Labs, Twitter, Adidas, Securities and Exchange Commission Locations: California, freefall

☆ FTX-tied Alameda gets $175 mln claim on Genesis bankruptcy estate
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

Aug 17 (Reuters) - FTX-affiliated cryptocurrency trading firm Alameda Research was granted a $175 million unsecured claim on the estate of bankrupt crypto lender Genesis Global Capital, according to a court filing dated Wednesday. The settlement marks a significant reduction from the nearly $3.9 billion claim that FTX, which is also bankrupt, had asserted earlier this year. Genesis said the settlement was "fair and equitable" and would allow the company to avoid pursuing "protracted litigation," the outcome of which would be "inherently uncertain." Once-prominent digital asset exchange FTX and lender Genesis Global are two of several crypto firms that went belly up after a turbulent 2022 hit investor sentiment for bitcoin and other crypto tokens. FTX has previously said Genesis was a primary "feeder fund" for Alameda, loaning it crypto assets that it used for further loans and investments.

Persons: Genesis, Sam Bankman, Fried, FTX, Jaiveer Singh, Dietrich Knauth, Varun Organizations: Alameda Research, Genesis Global, Genesis, Thomson Locations: Alameda, U.S, Bengaluru, New York

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCoinbase gets approval to offer crypto futures to U.S. retail investors: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Circle's Chief Strategy Officer Dante Disparte discusses recent regulatory advancements for digital assets in the U.S. and what he thinks will happen next.

Persons: Coinbase, explainers, Dante Disparte Organizations: CNBC Crypto, CNBC Locations: U.S

☆ Circle's Dante Disparte weighs in on regulatory developments in crypto
▼ + stars: | 2023-08-16 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCircle's Dante Disparte weighs in on regulatory developments in cryptoCircle's Chief Strategy Officer Dante Disparte discusses recent regulatory advancements for digital assets in the U.S. and what he thinks will happen next.

Persons: Disparte, Dante Disparte Locations: U.S

SINGAPORE, Aug 15 (Reuters) - Singapore's central bank released a regulatory framework on Tuesday intended to bolster the stability of single-currency stablecoins. The framework will apply to non-bank issuers of single-currency stablecoins pegged to the Singapore Dollar or any G10 currencies where their circulation exceeds S$5 million, said the Monetary Authority of Singapore (MAS). The central bank has to hold legislative consultations before Parliament passes amendments that would bring the framework into force. Single-currency stablecoins are a type of cryptocurrency pegged to a traditional asset like national currencies. The reserve assets must be at least at 100% of the outstanding single-currency stablecoins that are in circulation.

Persons: Xinghui Kok, Simon Cameron, Moore Organizations: Singapore, Monetary Authority of Singapore, MAS, UST, U.S . House Financial Services, Thomson Locations: SINGAPORE, Singapore, U.S

☆ Coinbase launches nonprofit crypto advocacy group
▼ + stars: | 2023-08-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

The Stand with Crypto Alliance is America’s first independent advocacy group for the crypto community, Coinbase says. Crypto regulation: Questions of who and howA central sticking point is the question of how crypto tokens should be regulated. The Securities and Exchange Commission, Wall Street’s top cop, contends that most crypto products are investment contracts and therefore fall under its jurisdiction — an argument the crypto industry is fighting. ‘Recess is over’The Stand With Crypto Alliance aims to mobilize “the full force of the decentralized crypto community to tell lawmakers: Recess is over,” Shirzad wrote in a blog post announcing the nonprofit. The Coinbase-backed nonprofit is an outgrowth of Crypto435, an earlier Coinbase campaign to try to organize the crypto community around legislative issues.

Persons: New York CNN —, Coinbase, Faryar, ” Crypto, —, Sam Bankman, Fried, ” Shirzad, we’ve, Shirzad Organizations: New, New York CNN, Crypto, CNN Business, Securities, Exchange Commission, SEC, Ripple Labs, Financial Services Committee, Commodity Futures Trading Commission, Crypto Alliance Locations: New York

He had a blank expression as he was led out of the courtroom in handcuffs by members of the U.S. A July 20 article in the New York Times contained excerpts from Ellison's personal Google documents prior to FTX's collapse. She described being "unhappy and overwhelmed" with her job and feeling "hurt/rejected" from her personal break-up with Bankman-Fried. Sassoon said the defendant would be able to access an internet-enabled laptop there to review evidence to prepare for trial. Reporting by Luc Cohen in New York; Editing by Jonathan Oatis, Noeleen Walder and Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, District Judge Lewis Kaplan's, Caroline Ellison, Kaplan, Ellison, Barbara Fried, nodded, Joseph Bankman, Fried, Jane Rosenberg Bankman, Palo, Mark Cohen, Bankman, Cohen, Danielle Sassoon, Sassoon, Luc Cohen, Jonathan Oatis, Noeleen, Rosalba O'Brien Organizations: U.S, District, New York Times, Alameda Research, U.S . Marshals, Stanford University, REUTERS, Prosecutors, Times, Brooklyn's Metropolitan Detention, Correctional, Thomson Locations: U.S, Manhattan, Alameda, United States, New York, Palo Alto , California, New York City, Brooklyn's, Putnam

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRep. Maxine Waters 'deeply concerned' over PayPal's new stablecoin: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Ben McMillan, founder and CIO of IDX Digital Assets, discusses what's currently driving crypto prices as PayPal launches its new dollar-backed stablecoin and as big names in finance file applications for spot bitcoin ETFs.

Persons: Maxine Waters, explainers, Ben McMillan, what's Organizations: Rep, CNBC Crypto, CNBC, IDX, Assets, PayPal

☆ IDX Digital Assets' Ben McMillan reveals 'ground zero' for crypto regulation
▼ + stars: | 2023-08-10 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIDX Digital Assets' Ben McMillan reveals 'ground zero' for crypto regulationIn a wide-ranging interview with CNBC Crypto World, Ben McMillan, founder and CIO of IDX Digital Assets, discusses what's currently driving crypto prices as PayPal launches its new dollar-backed stablecoin and as big names in finance file applications for spot bitcoin ETFs.

Persons: Ben McMillan, what's Organizations: CNBC, IDX, Assets, PayPal

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