📌 TOPINDIATOURS Breaking crypto: SEC Approves Generic Listing Standards for Crypto

In a bombshell filing, the SEC is prepared to allow generic listing standards for crypto ETFs. This would permit ETF listings without a specific case-by-case approval process.

The filing’s language rests on cryptoassets that are commodities, not securities. However, the Commission is reclassifying many such assets, theoretically enabling an XRP ETF alongside many other new products.

Why Generic Listing Standards Matter

The SEC has been tacitly approving new crypto ETFs like XRP and DOGE-based products, but there hasn’t been an unambiguously clear signal of greater acceptance. Huge waves of altcoin ETF filings keep reaching the Commission, but there hasn’t been a corresponding show of confidence.

Until today, that is, as the SEC just took a sweeping measure to approve generic listing standards for crypto ETFs:

“[Several leading exchanges] filed with the SEC proposed rule changes to adopt generic listing standards for Commodity-Based Trust Shares. Each of the foregoing proposed rule changes… were subject to notice and comment. This order approves the Proposals on an accelerated basis,” the SEC’s filing claimed.

The proposals came from the Nasdaq, CBOE, and NYSE Arca, which all the ETF issuers have been using to funnel their proposals. In other words, this decision on generic listing standards could genuinely transform crypto ETF approvals.

A New Era for Crypto ETFs

Specifically, these new standards would allow issuers to tailor-make compliant crypto ETF proposals. If these filings meet all the Commission’s criteria, the underlying ETFs could trade on the market without direct SEC approval. This would remove a huge bottleneck in the coveted ETF creation process.

“By approving these generic listing standards, we are ensuring that our capital markets remain the best place in the world to engage in the cutting-edge innovation of digital assets. This approval helps to maximize investor choice and foster innovation by streamlining the listing process,” SEC Chair Paul Atkins claimed in a press release.

The SEC has already been working on a streamlined approval process for crypto ETFs, but these generic listing standards could accomplish the task. This rule change would rely on considering tokens as commodities instead of securities, but federal regulators have been reclassifying assets like XRP.

If these standards work as advertised, ETFs based on XRP, Solana, and many other cryptos could be coming very soon. This quiet announcement may have huge implications.

The post SEC Approves Generic Listing Standards for Crypto ETFs appeared first on BeInCrypto.

🔗 Sumber: www.beincrypto.com

📌 TOPINDIATOURS Update crypto: Korea Exchange Affiliate KOSCOM Applies for Stablec

Korea Exchange’s IT infrastructure providing affiliate KOSCOM has applied for five stablecoin-related trademarks, in addition to reorganizing its crypto and digital assets departments.

The South Korean media outlet Seoul Finance reported that the firm has registered trademarks for the KSDC, KRW24, KRW365, KOSWON, and KORWON brands.

The outlet wrote that KOSCOM wants to “proactively respond” to the imminent launch of the KRW stablecoin market in South Korea.

KOSCOM Stablecoin Plans ‘in Full Swing’

KOSCOM (officially the Korea Securities Computing Corporation) provides comprehensive tech solutions and trading platforms to the South Korea’s financial securities and futures markets.

It was co-founded by the central government and the Korea Exchange, the nation’s stock exchange. The latter remains KOSCOM’s largest shareholder.

KOSCOM has also provided trading platform solutions for securities exchanges in several Southeast Asian nations. It has worked with stock markets in Laos, Cambodia, and Malaysia.

Experts expect the government to roll out new crypto regulations in the coming months. They believe Seoul will bundle these regulations with new rules for won-denominated stablecoins.

Observers think that companies will be able to commercialize their offerings “in the mid- to long-term,” the media outlet wrote.

KOSCOM has also expanded and reorganized its Future Business Division. It has launched a “Digital Asset Business Promotion Task Force,” which now reports directly to the firm’s CEO.

This unit has launched a proof-of-concept (PoC) for stablecoin technology. It is also looking at ways the firm could use KRW stablecoins “as a means of payment during subscription and distribution processes.”

It wants to use these coins to help it “boost payment convenience and stability,” the outlet wrote. Kim Wan-seong, the head of task force, said:

“Stablecoins are emerging globally. They have become a new means of payment. KOSCOM will […] help move the digital asset market forward in line with stablecoin trends.”

Banks Await Seoul’s Stablecoin Approval

Scores of major South Korean companies have registered similar trademarks in recent weeks. Banks have been particularly keen to develop stablecoin plans, as many lawmakers still insist that only large financial institutions should be allowed to launch KRW-pegged coins.

In recent weeks, the heads of South Korea’s biggest banks have held talks with executives from the USDT issuer Tether, as well as the USDC issuer Circle.

The post Korea Exchange Affiliate KOSCOM Applies for Stablecoin Trademarks appeared first on Cryptonews.

🔗 Sumber: cryptonews.com