Tag: Plans

SEC pushes back on high-leverage ETF plans tied to crypto and tech stocks

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Key Takeaways SEC enforcement of Rule 18f-4 prompts revisions to 3x leveraged ETF filings tied to crypto and tech stocks. Direxion’s proposed ETFs tracking Bitcoin, Ethereum, and tech sectors fall under new scrutiny. Share this article The SEC has requested revisions to multiple ETF filings that propose 3x and 5x leverage ratios to ensure compliance with Rule 18f-4, a regulation governing derivatives use by registered investment companies. Rule 18f-4 requires funds to adopt risk management programs and adhere to value at risk limits for leveraged products. The regulation generally limits…

Japan plans 20% flat tax on crypto gains in 2026 tax reform outline

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Key Takeaways The Japanese government and ruling coalition aim to shift crypto income to a separate taxation scheme. Cryptocurrency will be taxed at 20%, replacing the up-to-55% progressive rates, to stimulate local trading. Share this article Japan’s government plans to implement a 20% flat tax rate on crypto gains starting in 2026, aligning digital asset taxation with stock trading under a comprehensive regulatory overhaul. The shift is intended to move away from Japan’s current progressive tax structure toward a simplified flat rate used for traditional securities. The FSA is driving…

Prediction Markets Driving Expansion Plans at Robinhood

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Trading platform Robinhood says prediction markets have emerged as one of its fastest-growing product lines in terms of revenue, and is now set to expand its business with a futures and derivatives exchange and clearinghouse. Since launching its prediction markets in March in partnership with prediction market platform Kalshi, nine billion contracts have been traded by more than one million users, Robinhood said in a statement on Tuesday.  JB Mackenzie, the general manager of futures and international at Robinhood, said the platform is “seeing strong customer demand for prediction markets,…

Upbit Plans Nasdaq IPO After Naver Merger: Report

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Dunamu, the parent company of South Korean crypto exchange Upbit, is reportedly looking to debut in the US after it finalizes its merger with local tech giant Naver. Dunamu wants to launch an initial public offering on the tech-heavy Nasdaq after its merger closes, which is expected to occur later this week, the Seoul Economic Daily reported on Monday.  Local outlet The Chosun Daily reported on Monday that Dunamu and Naver plan to hold separate board meetings on Wednesday to approve the merger. If passed by each board, the CEOs…

Metaplanet plans to raise $135 million in MERCURY preferred equity to buy more Bitcoin

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Key Takeaways Metaplanet will issue Class B Preferred Shares to raise substantial capital in order to accelerate its transition into a Bitcoin Treasury Corporation. With an issue price of ¥900 per share, the company expects to raise over ¥21 billion before expenses and ¥20.4 billion in net proceeds. Share this article ‘Asia’s MicroStrategy’ Metaplanet plans to raise over ¥21 billion, or approximately $135 million, via an allotment of 23.6 million MERCURY shares to acquire more Bitcoin. MERCURY is the company’s new Class B preferred equity. The estimated net proceeds of…

Bitwise plans spot Dogecoin ETF launch in 20 days

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Key Takeaways Bitwise expects to launch its spot Dogecoin ETF within 20 days due to the 8(a) automatic approval process. Last week, three crypto ETFs tied to SOL, LTC, and HBAR made their Wall Street debut. Share this article Bitwise, a crypto asset manager, expects its spot Dogecoin ETF to launch within 20 days following an automatic regulatory approval process known as the “8(a) move,” unless the SEC intervenes, according to Bloomberg ETF analyst Eric Balchunas. The filing relies on Section 8(a) of the Securities Act, which allows registration statements…

Ripple has no immediate plans for an IPO, says President Monica Long

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Key Takeaways Ripple has no immediate plans to go public through an IPO, as stated by President Monica Long. The company is well-capitalized and not under pressure to go public anytime soon. Share this article Crypto-focused financial technology firm Ripple has no immediate plans for an IPO, according to President Monica Long. She made the statement at the Ripple Swell conference this week, emphasizing the company’s strategic independence from the public markets. Long told Bloomberg that Ripple is well-capitalized and able to fund all its growth initiatives without the need…

Robinhood No Plans To Join Crypto Treasury Company Trend

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Trading platform Robinhood Markets is still undecided about whether to buy and hold crypto, even though doing so could make it more aligned with the crypto community, according to an executive. ”We spent a lot of time thinking about this,” Robinhood’s finance and strategy vice president Shiv Verma said in response to a question on whether the company would buy and hold crypto during its third-quarter earnings conference on Wednesday. “We like alignment with the community. We are a big player in crypto. We want to keep doing it. We…

Canada plans to regulate stablecoins in 2025 federal budget

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Key Takeaways Canada intends to regulate stablecoins through its 2025 federal budget. The regulatory oversight will be administered under the Retail Payment Activities Act by the Bank of Canada. Share this article Canada plans to include stablecoin regulation in its 2025 federal budget, establishing oversight requirements for digital token issuers. The regulatory framework will be administered under the Retail Payment Activities Act, with the Bank of Canada overseeing implementation. The proposed rules will require stablecoin issuers, entities that create fiat-backed digital tokens, to implement reserve requirements and risk management protocols.…

BlackRock plans to launch Bitcoin ETF in Australia

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Key Takeaways BlackRock is planning to launch a Bitcoin ETF in Australia, expanding its regulated crypto offerings to the Asia-Pacific region. The ETF will allow Australian investors to gain Bitcoin exposure via traditional stock exchanges, without the need for direct crypto ownership or offshore investments. Share this article BlackRock, the world’s largest asset manager, plans to list its iShares Bitcoin ETF (IBIT) on the Australian Securities Exchange, marking a major step in expanding regulated crypto investment access across the Asia-Pacific region. The move would provide Australian investors with direct access…