RABIT Weekly News (W1 November 2022)

Nov 3, 2022 • 1 min read

After launching the Ethereum index fund, Fidelity launched Ethereum trading for institutional customers on October 28th. The institutional customers of Fidelity investment's digital asset subsidiaries can now trade Ethereum. Tom Jessop, the CEO of Fidelity digital asset, said, "The cryptocurrency market has faced a headwind for the past few months, but the related fundamental is still firm."
In December 2020, the SEC filed a lawsuit against Ripple (XRP) issuer Ripple Labs. The SEC claims that Ripple Labs violated securities laws. On the other hand, Reflabs claims that XRP is not a security, raising no problem. Regarding the lawsuit, Ripple CEO Brad Gallinghouse said the lawsuit with the SEC is likely to be resolved in early 2023.
In the first half of 2022, pro-virtual asset lawmakers in the U.S. have announced a comprehensive legal-regulatory framework for virtual assets and proposed related bills. The bill is a "responsible financial innovation law," and a senator who proposed the bill claims, "A portion of the U.S. crypto regulation bill will be enacted as early as the next six months."

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