The Bitcoin exchange-traded fund (ETF) application by financial giant Blackrock has been officially recognized by the U.S. Securities and Exchange Commission, marking its inclusion in the regulator’s docket. In parallel, a former SEC official has expressed concerns about the recent SEC vs. Ripple decision on XRP, suggesting that the ruling stands on uncertain grounds and may face reversal. Here’s your weekly summary of these stories and more from CryptokenTop.com.
The U.S. Securities and Exchange Commission (SEC) has greenlighted Blackrock’s proposal for a Bitcoin exchange-traded fund (ETF). This development signals the regulator’s readiness to examine a Bitcoin ETF seriously and could be a significant step towards broader acceptance of crypto-related products and assets.
Nobel Laureate economist Paul Krugman has opined that the reign of the U.S. dollar will not persist indefinitely. Despite acknowledging the international trend towards de-dollarization, he casts doubt on the potential of the Chinese yuan to take over as the world’s leading currency.
Ex-SEC Official Anticipates Reversal in SEC v Ripple XRP Ruling, Citing ‘Unstable Foundations’
A former internet enforcement leader at the U.S. Securities and Exchange Commission has cautioned that the recent SEC v. Ripple judgement concerning XRP is based on ‘unstable foundations’ and is likely to be overturned. He emphasized the irregularity of the decision, which extends full SEC protection to institutional investors, but not retail investors.
A Heritage Foundation economist has raised alarms about the looming threat of the U.S. dollar relinquishing its reserve currency status. He points to numerous actions by the Biden administration that could potentially undermine the dominance of the dollar, with their potential harm being difficult to quantify.
Frequently Asked Questions (FAQs) about Cryptocurrency News Update
What recent development has occurred with Blackrock’s Bitcoin ETF application?
The U.S. Securities and Exchange Commission (SEC) has approved the Bitcoin exchange-traded fund (ETF) application by Blackrock, indicating a significant step towards broader acceptance of cryptocurrency-related products and assets.
What did a former SEC official say about the recent SEC v. Ripple case decision?
A former official from the SEC has warned that the recent SEC v. Ripple decision concerning XRP is on shaky ground and might be overturned. The decision offers full SEC protection to institutional investors but none to retail investors.
What are Paul Krugman’s views on the dominance of the U.S. dollar and the potential of the Chinese yuan?
Nobel Laureate economist Paul Krugman has expressed that while the U.S. dollar’s dominance won’t last forever, he is skeptical about the Chinese yuan’s potential to take over as the world’s dominant currency.
What concerns have been raised about the U.S. dollar’s status as the reserve currency?
An economist from the Heritage Foundation has warned about the potential disaster of the U.S. dollar losing its reserve currency status due to several actions by the Biden administration that could weaken the dollar’s dominance.
More about Cryptocurrency News Update
- [Blackrock’s Bitcoin ETF Application]
- [SEC’s stance on Cryptocurrency]
- [SEC v. Ripple Case]
- [Paul Krugman on U.S. Dollar Dominance]
- [Potential Loss of US Dollar’s Reserve Currency Status]
(Note: These are placeholder anchor texts. The actual links to the reference articles or sources have not been provided as per the AI model’s limitations.)