chsmith07201

@chsmith07201

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“The gravity of the criminal acts, the place of execution, the order of submission of the request, the citizenship of the requested person, the possibility of further extradition to another country, as well as other circumstances,” the Ministry of Justice said.

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Since Wyoming Senator Cynthia Lummis introduced the Bitcoin Reserve Act earlier this year, states like Texas and Pennsylvania have filed similar proposals. Russia, Thailand and Germany are reportedly considering proposals of their own, further ramping up pressure.

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With speculation mounting that incoming President Donald Trump may sign an executive order declaring a Bitcoin Reserve on day one, or pass legislation to establish a Reserve during his term, many wonder if the move could lead to a crypto supercycle.

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Sim said he was also spurred to bring the idea to the council after he did some investigating and found that houses in the city had increased 381% in value between 1995 and 2022, but gold “pretty remained much flat.”

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On Dec. 3, Yoon imposed martial law during a live television address, citing a need to “eliminate anti-state elements” and address “threats posed by North Korea’s communist forces.”

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The disappearance of key market players and a liquidity crisis contributed to a $30,000 drop in Bitcoin prices on South Korean platforms after President Yoon Suk Yeol’s declaration of martial law.

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Yoon’s declaration of martial law came in response to “threats posed by North Korea’s communist forces,” the president claimed, with measures intended to “eliminate anti-state elements.”

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Bitcoin also dived in global markets, but recovered 2.4% after the martial law declaration was lifted around 4:30 am local time during a Cabinet meeting.

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The Bitcoin-Korean won (KRW) exchange rate plunged from 130 million KRW to 93.6 million KRW following the announcement, according to data from Upbit. A nearly 30% drop.

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Bitcoin and other cryptocurrencies have started to recover from a plunge on Dec. 3 after South Korean President Yoon Suk-yeol reversed his short-lived declaration of martial law.

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Grayscale’s 19b-4 filing will have to be coupled with an SEC-approved Form S-1 registration statement before GSOL goes live.

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Grayscale joins ETF issuing rivals 21Shares, Canary Capital, VanEck and Bitwise in vying for the SEC’s approval of a spot SOL ETF — which Franklin Templeton is also considering to launch.

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Grayscale Investments filed with the United States Securities and Exchange Commission on Dec. 3 to launch a spot Solana exchange-traded fund (ETF) — which would convert its existing Grayscale Solana Trust, under the ticker GSOL, to an ETF.

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Since early August, the RLUSD stablecoin has been in beta testing on Ripple’s decentralized public blockchain platform, the XRP Ledger (XRPL), and the Ethereum mainnet. Ripple said it plans to expand RLUSD to additional blockchains and decentralized finance (DeFi) protocols over time

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The SEC first approved spot BTC ETF offerings from asset managers for listing and trading on US exchanges in January. The regulator followed by greenlighting shares of spot Ether exchange-traded products in May.

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Since Trump won the US election on Nov. 5 and Republicans secured enough seats for majority control of the House of Representatives and Senate, many industry leaders have suggested the regulatory environment could be more favorable to crypto starting in 2025. At the time of publication, it was unclear whom the president-elect intended to nominate to replace Gensler.

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It’s unclear if the SEC will approve the crypto product for listing and trading on NYSE Arca. The commission will be under new leadership starting on Jan. 20, when Chair Gary Gensler resigns. The US Senate could confirm a new SEC head nominated by President-elect Donald Trump after he takes office.

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The filing did not suggest a date for the proposed offering to the public other than “as soon as practicable after the effective date” of the Form S-1. According to Bitwise, the ETF’s BTC and ETH holdings will “approximate the relative market capitalization of Bitcoin and Ether to one another.”

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According to the asset manager, the goal would be to “give investors balanced exposure to the two largest crypto assets in the world in an easy-to-access format.”

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NYSE Arca has filed to list and trade shares of an exchange-traded product offered by asset management firm Bitwise that would hold Bitcoin and Ether.

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