FameEX Morning Crypto News Recap | May 30, 2024

BlackRock Submits Amended S-1 Registration for Upcoming Ethereum ETF Listing

BlackRock has updated its S-1 registration statement, detailing seed capital investors for its forthcoming Ethereum ETF, indicating progress towards its listing. Bloomberg's ETF analyst Eric Balchunas interpreted this as a positive signal, noting that similar filings from other companies are anticipated soon, with potential trading by late June or around July 4.

New York Stock Exchange President Considers Crypto Trading Services Pending Regulatory Clarity

At the Consensus 2024 conference, Lynn Martin, President of the NYSE, stated that the exchange would consider offering cryptocurrency trading services once the regulatory landscape becomes clearer. She highlighted the $58 billion in assets held by the U.S.-listed spot Bitcoin ETF as evidence of substantial market demand for regulated crypto products.

U.S. House Forecasts Passage of Major Cryptocurrency Legislation by Year-End

A senior U.S. House of Representatives member predicts that significant cryptocurrency legislation might pass in a crucial end-of-session moment this year. Despite strong congressional support for cryptocurrency measures recently, Republican Emmer expressed concerns about the Senate's readiness, indicating that significant work remains before achieving consensus.

US Financial Services Giant Vanguard Declines to List Spot Ethereum ETF

Despite the SEC's recent approval of Proposal 19b-4 allowing the listing of spot Ethereum ETFs, Vanguard has decided not to offer these on its platform. This decision is in line with Vanguard's cautious approach towards cryptocurrency products, emphasizing their focus on traditional asset classes like stocks, bonds, and cash rather than integrating crypto into their offerings.

Ethereum Co-Founder Joseph Lubin Sues SEC to Clarify Cryptocurrency Market Regulations

Ethereum co-founder Joseph Lubin is suing the U.S. Securities and Exchange Commission (SEC) for regulatory clarity in cryptocurrency markets. The lawsuit by his company, Consensys, in Texas follows a Wells notice, indicating potential SEC action. Lubin aims to protect market freedom and ensure that open-source developers are not targeted, as he announced at Consensus 2024.

U.S. Treasury Department Issues First NFT Risk Assessment, Cautions Consumers About Potential Dangers

The Biden administration, recognizing potential risks in the NFT market, has prompted the U.S. Treasury Department to release its first NFT risk assessment. Highlighting the market's susceptibility to fraud, scams, and theft, the Treasury also notes that NFTs can be exploited for laundering criminal proceeds. This report underscores the ongoing vulnerabilities within the NFT space.

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