🔷 TheBlock sources reported that the SEC sent Form S-1 to ETH ETF issuers with “minor comments” and asked for updated documents by July 8

The sources noted that once companies submit the amended forms, it will not be the final step, as at least one more round of comments must take place before the ETFs go to market.

If TheBlock's sources are correct, then Ether ETFs will not begin trading by either July 2 or July 4, as analysts and Reuters had assumed. Let's watch 👀

🌐 Catizen, a mini-application on Telegram, the essence of which is to earn in-game coins by “crossing” virtual cats, plans to launch its gaming platform in July, on which developers will be able to distribute their own mini-games

In addition, Catizen is preparing to airdrop tokens in July

One is that in March 2021, SEC Chairman Gary Gensler told Congress that the SEC has no regulatory authority over crypto exchanges, thereby confirming that cryptocurrency transactions on exchanges are outside the scope of securities laws

Coinbase has requested documents from Gensler regarding these statements because they are important in demonstrating that the SEC's current actions violate the principles of the Constitution. However, the SEC, under Gensler's leadership, refuses to disclose this information.

🔶 A US district judge allowed the SEC to continue investigating some of the claims against Binance, but dismissed two of its claims

The judge ruled that the Commission's charges against Binance, which it filed in June 2023 along with Coinbase, can be continued on the following counts:

1️⃣ ICO (held in 2017);

2️⃣ current sales by the BNB exchange;

3️⃣ refusal to register;

4️⃣ possible fraud;

5️⃣ BNB staking through the BNB Vault product;

6️⃣ other staking services

However, the judge granted Binance's motion to dismiss charges related to BNB secondary sales and the Simple Earn program

🦊 Why are the SEC's arguments about the "unlicensed broker" MetaMask and Lido and Rocket Pool securities null and void?

According to the agency, the swap function made MetaMask an unregistered broker. However, MetaMask, as a non-custodial wallet, does not fall within the SEC's definition of a broker as “any person engaged in the purchase or sale of securities for the account of others.”

In fact, MetaMask is a computer code developed by Consensys that works with smart contracts initiated by the users themselves. Developers do not have access to users' private keys, similar to a personal safe

In March, the SEC already lost a case against Coinbase Wallet, which was also accused of “brokerage” activities. However, the MetaMask case is different in that the wallet charges a commission for swaps

It’s the same with MetaMask Staking, but in addition, Lido and Rocket Pool can be integrated into any wallet (and their main competitors already have them)

Yesterday the Commission clearly demonstrated how the concept of a security can be distorted

💸 Yesterday's inflows into BTC ETFs reached $73 million, and IBIT, for the first time in two weeks, showed an inflow above $1.5 million - $82 million

Despite the weak end of the month, Bitcoin ETFs attracted another $668 million in assets in June (in the previous month this figure exceeded $2 billion)

Total assets under management (AUM) for the 10 ETFs ended June at $53.6 billion, down $8.5 billion from the ATH of $62.09 billion reached on June 6