Coinbase Gets Green Light for Crypto Futures While SEC Plans to Approve Ether ETFs

Coinbase’s New Venture into Crypto Futures

Coinbase, the popular cryptocurrency exchange, has recently been granted the thumbs up from the U.S. National Futures Association to broaden its horizons by offering crypto futures investments to eligible customers. This exciting development allows Coinbase to introduce Bitcoin (BTC) and Ether (ETH) futures contracts, partnering with a Commodity Futures Trading Commission-regulated derivatives exchange. Talk about a cosmic leap for crypto!

SEC’s Anticipated Ether ETF Approvals

In the world of speculation (a.k.a. Wall Street), it appears the U.S. Securities and Exchange Commission (SEC) is gearing up to approve a bunch of Ether futures exchange-traded funds (ETFs) at the same time. Sources indicate that, unlike previous years, the SEC hasn’t told firms to pull their applications. This gives us hope that the fund’s launch is just around the corner—so close you can practically hear the cash register cha-chinging!

Valkyrie’s Move Towards Ether Futures

Riding the wave of optimism, asset management firm Valkyrie has jumped in with its own application for a crypto ETF. However, there’s a twist; they’re planning to invest in ETH futures contracts rather than Ether itself. In practical terms, the ETF will be limited to a maximum of 8,000 ETH futures contracts per month, adhering to position limits set by the Chicago Mercantile Exchange. Imagine trying to squeeze that into your portfolio!

SEC and Ripple: An Ongoing Legal Saga

In a legal twist that keeps on giving, U.S. Judge Analisa Torres has granted the SEC permission to file for an interlocutory appeal against Ripple Labs. Interlocutory appeals are like those cliffhangers at the end of a season finale—things are still ongoing, yet there’s room for a dramatic twist! Ripple, however, is putting up a fight and has argued that the SEC’s request lacks new legal meat to chew on.

Stablecoins Take Center Stage in Singapore

Over in Singapore, the central bank has rolled out a new regulatory framework for single-currency stablecoins. This framework sets the stage with comprehensive requirements for stablecoin issuers, including redemption timelines and reserve management protocols. Only those fulfilling the criteria can bask in the glory of being MAS-regulated. A well-earned badge of honor that separates the reliable from the wannabes!

The Rise of AI Regulation in U.S. House

Finally, in an intriguing turn of events, a coalition of House Democrats has established a working group dedicated to artificial intelligence (AI). With a whopping 97 members, they’re gearing up to work alongside the Biden administration and both sides of the political aisle to create thoughtful legislation that addresses the AI landscape. Beware, misinformation and deepfakes; the lawmakers are on your tail!