1. New recommendations on the disclosure of information about crypto assets were published on April 10. Projects are advised to disclose information about their financial condition, plans, relationships, technical data, etc., in reports for investors and the SEC. The document is not mandatory and does not provide anything new for us. However, in general, the move towards increased transparency of projects has been well received.
2. Appointment of a new SEC chairman
On April 9, the U.S. Senate confirmed Paul Atkins as the SEC chairman. Atkins is known for his support of cryptocurrencies and advocates for a reasonable approach to regulation. Under his leadership, the SEC is expected to develop more favorable rules for digital assets. The news was also received positively.
3. Clarification of the status of stablecoins
The SEC has determined that stablecoins backed by fiat currency, such as USDT and USDC, are not securities. The news is ambiguous. On one hand, it allows for more freedom; on the other hand, it means less transparency and accountability, which leads to less protection for users.
4. The pause in the SEC lawsuit against Binance has been extended.
11.04 Both parties filed a joint motion to extend the suspension of the case. This indicates ongoing negotiations between the parties. An agreement may be announced soon. The situation is certainly not escalating.
5. Appeals in the SEC and Ripple case have been suspended
10.04 Both parties filed a request for such a suspension, indicating a preliminary agreement has been reached between the parties. A final decision is expected within 2 months.
6. Options on Ethereum ETF have been approved
9.04 The SEC officially allowed trading of options on spot ETFs. The news is positive.
7. Applications for new Solana ETF and Dogecoin ETF have been accepted
It is expected that with the arrival of the new SEC chair, the approval process for new spot ETFs will progress better. We anticipate a decision on the first Solana ETF and Dogecoin ETF as early as May.
Overall, the news flow surrounding the SEC is positive and has played a role in the current price increase. We await ETFs😉
