Bitpush's Weekly Web3 News Highlights:
[Michael Saylor reiterates that Bitcoin will rise to $13 million in the next 20 years]
In an interview with CNBC, MicroStrategy founder Michael Saylor reiterated his view that Bitcoin , which currently accounts for 0.1% of global capitalization, will eventually rise to 7% of global capitalization, and that one Bitcoin will be worth $13 million in the next 20 years.
MicroStrategy began purchasing Bitcoin in August 2020 and currently holds approximately $8.3 billion worth of Bitcoin assets at current prices.
[Kamala Harris releases a list of proposed policy positions, without mentioning crypto-related issues]
The campaign website of Democratic presidential candidate Kamala Harris published a list of proposed policy positions for her future presidential administration, and crypto-related topics were not mentioned.
On a new issues page on his campaign website, part of the text mentions supporting "American innovation and workers." In it, the Democratic candidate pledges to support the development of the artificial intelligence industry and emphasizes the importance of nurturing "other cutting-edge industries of the future."
[Since 2013, the US SEC has imposed $7.4 billion in fines on the cryptocurrency industry]
According to a study published by Social Capital Markets, the U.S. Securities and Exchange Commission ( SEC ) has imposed $7.4 billion in fines on the cryptocurrency industry since 2013.
The report states that with Terraform Labs agreeing to pay $4.47 billion earlier this year, the total fines for 2024 have surpassed previous years at $4.7 billion. However, the report also states that the total number of fines issued has dropped to 11 from 30 last year, when the SEC fined the crypto industry a total of $150 million.
“The overall increase in fines suggests a strategic shift toward fewer, higher-impact cases,” Social Capital Markets said in its report. “This change underscores the need for cryptocurrency companies to prioritize regulatory compliance as the financial risks associated with noncompliance have escalated.”
[The UK proposes a new bill to clarify the legal status of cryptocurrencies and NFTs]
According to Coindesk , the British government has submitted a bill to Parliament regarding the legal status of digital assets such as cryptocurrencies, non-fungible tokens (NFTs) and tokenized real-world assets (RWAs).
The bill will make it clear that these assets are considered personal property under UK law. Once enacted, it will provide guidelines for the legal community to follow when disputes arise over ownership, such as in divorces. It will also provide protection for cryptocurrency owners (whether individuals or companies) who have been the victims of fraud and scams.
At the heart of the proposal is the addition of a new property category, which would include objects such as money and cars, and a category of “things in action” such as debts and shares, in addition to the existing “holdings”.
[Grayscale will launch the first US XRP trust, paving the way for potential ETF]
According to FOX BUSINESS , Grayscale will launch the first U.S. XRP trust, paving the way for a potential ETF.
It is reported that Grayscale announced that the first XRP Trust to be launched is a closed-end fund that will provide qualified investors with the opportunity to invest directly in XRP. Trusts and ETFs are two different investment products. ETFs must be approved by the U.S. Securities and Exchange Commission because they are sold directly to retail investors, while the structure of trusts and sales promotions to qualified investors are subject to looser supervision. Even so, a trust can become an ETF as long as it obtains proper regulatory approval.
[U.S. House of Representatives proposed a new bill to establish a joint advisory committee on digital assets between the SEC and the CFTC]
According to Fox News reporter Eleanor Terrett, John Rose, a Republican congressman from Tennessee and a member of the Republican Committee on Financial Services of the U.S. House of Representatives, is proposing a new bill called the "BRIDGE Digital Assets Act," which would establish a joint advisory committee on digital assets between the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission ( CFTC ). The purpose of the committee is to allow the industry to provide advice to the two agencies on rules, regulations and policies related to digital assets.
The committee will be composed of 20 private sector players who will represent different interests in the crypto space.
[Bloomberg: The Chairman of the US SEC has received "death threats" many times since 2022]
Bloomberg reporter Jason Leopold's request under the Freedom of Information Act (FOIA) shows that SEC Chairman Gary Gensler has received "death threats" many times since 2022. The documents show that some people sent voice messages and emails to Gensler containing crude and violent threats against him without any explanation. One person said they would shoot and "chop him to death", and another threatened that if they continued to send these messages, they would be sued.
Freedom of Information Act documents show that one of the death threats may have come from a government employee, while another person who sent a threatening email to Gensler with the subject line “die” lives in Australia. The U.S. Attorney’s Office declined to bring criminal charges in the latter case.
Gensler has served as SEC chairman under President Joe Biden since 2021. Although his term ends in 2026, some experts say that a U.S. election outcome in favor of Democratic candidate Kamala Harris or Trump could prompt the SEC chairman to resign.
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