The US Supreme Court denied Coinbase’s motion to compel arbitration related to its Dogecoin (DOGE) sweepstakes on May 23. The judge ruled that “a court, not an arbitrator,” must decide whether one of Coinbase’s agreements supersedes the other. The first agreement is Coinbase’s User Agreement, which states that an arbitrator…
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President Joe Biden has ten days, excluding Sundays, to decide whether he wants to follow through on his threat to veto H.J.Res.109. Source link
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The US House of Representatives passed H.R. 5403, the CBDC Anti-Surveillance State Act, sponsored by Majority Whip Tom Emmer (MN-06). The legislation blocks the creation and issuance of a central bank digital currency (CBDC) without explicit congressional authorization, aiming to safeguard Americans’ financial privacy. The bill aims to prevent unelected…
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The CEO of the Fantom Foundation has unveiled the Sonic Foundation, which will oversee the creation and launch of Fantom’s new Sonic Chain. Source link
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The US Securities and Exchange Commission (SEC) has approved the first spot Ethereum exchange-traded funds (ETFs), marking a significant milestone for the crypto industry. The decision, announced today, allows asset managers such as Grayscale, Fidelity, and Bitwise to launch ETFs that directly track the price of Ethereum (ETH). Ethereum rose…
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Records show Sam Bankman-Fried was in the Federal Transfer Center in Oklahoma City, suggesting authorities may still transfer him to a prison in California. Source link
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Hong Kong’s Securities and Futures Commission (SFC) is reportedly considering allowing Ethereum ETFs under its jurisdiction to stake their tokens, a stance notably different from that of US regulators. Staking involves participants locking up digital assets to support network security and operations, earning rewards in return. Its introduction into the ETFs…
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The potential misuse of the CBDC technology trumped arguments about innovation or even good legal drafting. Source link
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According to a recent Bernstein report, the approval of a spot Ethereum (ETH) exchange-traded fund (ETF) in the US may establish a precedent for classifying Solana (SOL) as a commodity. The classification of cryptocurrencies as either securities or commodities holds significant implications. Commodity classification facilitates ETF applications and approvals, while…
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Both former television hosts, Binance’s Yi He and Bitget’s Gracy Chen, currently lead the world’s largest crypto exchanges by volume. Source link