Senate Amendment Would Narrow Definition Of “Crypto Broker” – August 5

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $38,088

Bitcoin price has closed the last 24 hours of trading right where it started, as price failed to break back through the $40,000 once again.

Top-20 altcoins are looking stronger, as Ethereum gains 5%, XRP rises 2% and Solana lead with an 8% gain.

Top Stories for August 5, 2021 πŸ”₯

πŸ‘‰ Senate Amendment Would Narrow Definition Of “Crypto Broker”

Senators Ron Wyden, Pat Toomey, and Cynthia Lummis have proposed an amendment to the controversial infrastructure bill, in an effort to more clearly define cryptocurrency “brokers”.

The original bill could potentially apply reporting requirements to a much wider range of entities than intended, due to its vague wording. The proposed amendment would narrow this definition to exclude miners, wallet providers and developers.

πŸ‘‰ Ripple Granted Access To Binance Records For SEC Case

Ripple has been granted access to crypto exchange Binance’s records, for a chance to prove that sales of the XRP token were made outside the SEC’s jurisdiction.

The company’s legal team claims that the securities act applies only to domestic sales, whereas XRP sales were predominantly made via non-US crypto exchanges.

πŸ‘‰ Grayscale Investments Hires ETF Veteran David LaValle

Digital asset management firm Grayscale Investments has hired exchange-traded fund (ETF) veteran David LaValle, as the head of its new ETF division.

LaValle – who has experience as the CEO of index firm Alerian and US Head of ETF capital markets at State Street – will assist Grayscale in their mission to convert their investment products into ETFs.