Grayscale Bitcoin ETF Lawsuit Vs SEC Could Take Two Years – July 11

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$20,450

Bitcoin price has shaved off around $1,000 over the weekend, approaching the $20,000 mark to begin Monday.

Top-20 altcoins also took a bit of a hit, however have traded completely flat over the last 24 hours – with almost every asset rising by less than 1%.

Top Stories for July 11, 2022 🔥

👉 Grayscale Bitcoin ETF Lawsuit Vs SEC Could Take Two Years 

Grayscale’s legal case against the SEC regarding Bitcoin exchange-traded fund (ETF) rejections could take up to two years, according to chief legal officer Craig Salm.

The company has been on a mission to convert their Grayscale Bitcoin Trust into a spot Bitcoin ETF for some time now, with little luck – despite similar products already having been approved, including futures ETFs.

Salm says that Grayscale believes in its arguments and that the courts will rule in their favor, with a time horizon of one to two years for an eventual spot Bitcoin ETF approval.

👉 FSB To Submit Report To G20 For New Global Crypto Regulation

The Financial Stability Board (FSB) has called for global crypto regulation, and will be submitting a report to G20 countries in October on the topic.

Of particular focus in the FSB statement was stablecoins, market volatility and spillover effects into traditional finance, claiming that the area is a risk to financial stability. The FSB is an international group based in Switzerland, made up of regulators, government officials and central bankers.

👉 BIS Seeks Global Collaboration For CBDC Designs

The Bank for International Settlements (BIS) is looking to have countries collaborate on central bank digital currency (CBDC) design, in an effort for the systems to be more compatible with each other in the long-run.

A BIS joint report with the International Monetary Fund and World Bank says central banks are starting with a clean slate for CBDC design, with interoperability being “fundamental” for cross-border activity.