#SEC
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U.S. Federal Judge Jed Rakoff has issued a decision favoring the Securities and Exchange Commission (SEC) in its legal case against Terraform Labs and its founder, Do Kwon. The ruling substantiates the SEC's claim that the company had been selling unregistered securities to investors and that Kwon's statements about potential profits were misleading. 
Who's Sitting Out the Bitcoin ETF Race?
The cryptocurrency market has been buzzing for months with the potential approval of spot Bitcoin ETFs. Most experts are pinning their bull market hopes on this type of regulated exchange-traded funds. It appears as though nearly every prominent financial market player has lodged applications with the U.S. Securities and Exchange Commission (SEC). However, this isn't entirely the case. 
In its latest report, American bank JPMorgan has noted that the U.S. Securities and Exchange Commission (SEC) might find itself facing legal challenges from applicants if it decides to deny the approval of spot Bitcoin Exchange Traded Funds (ETF) applications. 
Yesterday, December 21st, BlackRock, the investment company, was among those attending a meeting with the U.S. Securities and Exchange Commission (SEC). The discussion centered on the regulations for listing and trading the iShares Bitcoin Trust, a spot Bitcoin ETF. 
The U.S. Securities and Exchange Commission (SEC) has sought to minimize the jury's involvement in the lawsuit against Terraform Labs and its co-founder, Do Kwon. The agency is reluctant to allow jurors to determine if a cryptocurrency constitutes a security. 
In a report dated October 31, the Office of the Ethics Counsel highlighted the issue, noting that “many well-qualified candidates hold crypto assets, which, according to the office’s findings, would disqualify them from working on specific matters related to crypto assets.” 
