SEC Files First Legal Brief In Bitcoin ETF Lawsuit With Grayscale – December 12

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$17,005

Bitcoin price has kicked off the week right at the $17,000 mark, as the market appears to be getting very comfortable in its recent range.

Top-20 altcoins have surprisingly seen some falls over the last 24 hours, as Ethereum drops 2%, BNB falls 5% and Dogecoin tumbles 8%.

Top Stories for December 12, 2022 🔥

👉 SEC Files First Legal Brief In Bitcoin ETF Lawsuit With Grayscale

Grayscale Investments says that the US Securities Exchange Commission (SEC) has filed its first legal brief in Grayscale’s lawsuit against the agency, over the rejection of its Bitcoin exchange-traded fund (ETF).

Within the brief, the SEC claims that its rejection was “reasonable, reasonably explained, supported by substantial evidence.”

Grayscale argues that the SEC has applied laws unevenly by approving Bitcoin futures ETFs tied to spot pricing, but not approving the fund’s application to convert its GBTC fund into an ETF – a fund which has 850,000 investors.

👉 US Prosecutors Look To Charge Binance Over Money Laundering Allegations

The US Department of Justice (DOJ) is considering criminal charges against crypto exchange Binance and its executives, over possible money laundering violations.  According to a report from Reuters, the DOJ has discussed possible plea deals with Binance’s lawyers.

Prosecutors have been investigating the exchange since 2018, with some arguing that more evidence must be gathered before filing a case. Binance has refuted the Reuters report.

👉 Bybit Releases Merkle Tree Proof Of Reserves

Dubai based exchange Bybit has become the latest exchange to release Merkle Tree-based proofs of its reserves, allowing users to directly verify Bybit’s asset holdings, as well as their personal deposits.

The exchange is also enhancing withdrawals and increasing its risk management controls.