BlackRock Applies for Spot Bitcoin ETF; Coinbase to Serve as Custodian

• The NYAG released documents detailing Tether’s exposure to Chinese securities in 2021.
• Mark Cuban debated crypto regulations with a former SEC official.
• BlackRock filed for a spot Bitcoin ETF with Coinbase as custodian.

NYAG Releases Documents Detailing Tether’s Exposure to Chinese Securities

The New York Attorney General (NYAG) recently released documents that detail the potential exposure of cryptocurrency company Tether to securities in China. The release of these documents comes in the midst of debates over crypto regulations between Mark Cuban and a former SEC official, as well as congressional scrutiny over BlackRock’s spot Bitcoin ETF application.

Mark Cuban Debates Crypto Regulations With Former SEC Official

Mark Cuban, entrepreneur and owner of the Dallas Mavericks basketball team, has been publicly debating crypto regulations with former U.S. Securities and Exchange Commission (SEC) official Robert Jackson Jr. The two have discussed how best to regulate cryptocurrencies while maintaining investor protection, amid BlackRock’s recent spot Bitcoin ETF application filing.

SEC Under Congressional Scrutiny As BlackRock’s Spot Bitcoin ETF Application Moves Forward

Amidst ongoing debate on regulatory matters, the SEC is now facing congressional scrutiny over its handling of BlackRock’s spot Bitcoin ETF application filing. This news has sparked enthusiasm from some members of the crypto community who view it as a possible catalyst for a bull market, though other voices have raised exceptions due to CEO Larry Fink’s previous criticism of Bitcoin as an “index of money laundering“.

Blackrock Files For Spot Bitcoin ETF; Coinbase To Serve As Custodian For BTC Holdings

In order to facilitate their spot Bitcoin ETF application, Blackrock has chosen Coinbase Global Inc., one of the world’s largest cryptocurrency exchanges, to serve as custodian for its BTC holdings should its application be approved by the SEC. Binance US also recently cut 50 staff following legal action taken against them by the SEC regarding unregistered security tokens offerings which makes approval more unlikely but not impossible given certain conditions are met by both sides according to experts such as Noelle Acheson from Crypto is Macro Now newsletter..


Overall, while there is still much uncertainty surrounding regulatory measures concerning cryptocurrencies such as bitcoin and other altcoins, it appears clear that there are strong forces at work both advocating for greater regulation but also ones pushing back against overly restrictive measures that could stifle innovation within this space

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