Law & Policy

What happened in the crypto industry last week? (April 8-14)

1/ The SEC has sent a Wells Notice to Uniswap, indicateing the SEC's intention to sue the exchange. Uniswap's management has not disclosed the exact contents of the Notice, but in their blog, the team stated that the UNI token is not a security.

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3/ Steakhouse Financial published a detailed analysis of the first BlackRock USD Institutional Digital Liquidity Fund, Ltd (Ethereum) (BUIDL). The document provides a structural, financial, and legal analysis of the fund, as well as the complexities of the "ecosystem" within which it operates.

4/ The SEC has postponed the decision on ETF applications based on bitcoin options from Grayscale and Bitwise. 

5/  Sam Bankman-Fried has filed an appeal to challenge the verdict. 

6/ In Hong Kong, ETFs based on Bitcoin and Ethereum have been approved.

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2/ Coinbase has filed a petition in the case against the SEC with a request for an interlocutory appeal on the issue of the necessity of having a contractual law instrument within the framework of the investment contract institute in accordance with the Howey test.