FameEX Morning Crypto News Recap | May 30, 2024

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

BlackRock has revised its S-1 registration statement, identifying seed capital investors for its upcoming Ethereum ETF, signaling readiness for its listing. Bloomberg ETF analyst Eric Balchunas views this update as promising, anticipating similar submissions from other firms soon, with expected trading commencement by late June or July 4.

NYSE President Open to Crypto Trading Services, Awaiting Regulatory Approval

At Consensus 2024, NYSE President Lynn Martin announced that the exchange might offer cryptocurrency trading services pending clearer regulations. She emphasized the significant market demand for regulated crypto products, noting that the U.S.-listed spot Bitcoin ETF holds $58 billion in assets.

U.S. House Anticipates Approval of Significant Cryptocurrency Bill by Year's End

A senior member of the U.S. House of Representatives forecasts that crucial cryptocurrency legislation could pass during an urgent end-of-session period this year. Despite strong support for such measures in Congress, Republican Emmer noted that the Senate still faces considerable challenges, suggesting that much work is needed to reach consensus.

Vanguard Rejects Listing Spot Ethereum ETF in the US

Despite the SEC approving Proposal 19b-4 for listing spot Ethereum ETFs, Vanguard will not offer these ETFs on its platform. This decision aligns with Vanguard's cautious stance on cryptocurrencies, reflecting its preference to focus on traditional asset classes such as stocks, bonds, and cash, rather than incorporating cryptocurrencies into their product lineup.

Ethereum Co-Founder Joseph Lubin Sues SEC for Clearer Cryptocurrency Market Regulations

Ethereum co-founder Joseph Lubin has initiated a lawsuit against the U.S. Securities and Exchange Commission (SEC) to seek clarity on cryptocurrency regulations. Filed in Texas by his company, Consensys, after receiving a Wells notice, the lawsuit aims to safeguard market freedom and protect open-source developers from being targeted, as Lubin declared at Consensus 2024.

U.S. Treasury Issues Initial NFT Risk Assessment, Warns of Potential Consumer Dangers

The U.S. Treasury Department has released its inaugural NFT risk assessment, prompted by the Biden administration's concerns about the market's vulnerabilities. The report warns that NFTs are susceptible to fraud, scams, and theft, and can also be used to launder criminal proceeds. This assessment highlights the persistent risks associated with NFT transactions.

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