Today in crypto, the SEC and CFTC issued a joint statement for a coordinated approach to spot crypto trading in the US. Metaplanet secured shareholder approval to restructure shares, paving the way for up to $3.7 billion in Bitcoin fundraising. Losses from hacks hit $163 million in August as attackers targeted high-value projects.
US regulators clarify rules for spot crypto trading
The US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) issued a joint staff statement on Tuesday announcing a coordinated effort to oversee and enable spot crypto trading in the United States.
The agencies clarified that existing law does not prevent regulated US or foreign exchanges, such as national securities exchanges (NSEs), designated contract markets (DCMs) and foreign boards of trade (FBOTs) from listing spot crypto products, including those with leverage and margin features.
The move follows the President’s Working Group on Digital Asset Markets recommendations, which urged regulators to provide clarity and keep blockchain innovation within the United States.
“Today, the Divisions provide their view that DCMs, FBOTs, and NSEs are not prohibited from facilitating the trading of certain spot crypto asset products. Market participants are invited to engage with SEC staff or CFTC staff, as needed.”
Market participants were invited to contact the SEC or CFTC with proposals and questions.
Metaplanet clears path for $3.7B Bitcoin accumulation strategy
Japanese Bitcoin investment firm Metaplanet has secured shareholder approval to overhaul its capital structure, clearing the way for up to $3.7 billion in fundraising to support its Bitcoin accumulation strategy.
At a Monday extraordinary general meeting, investors backed plans to expand authorized shares to 2.7 billion and introduce a dual-class preferred stock system aimed at attracting diverse investors while preserving shareholder control.
The new structure offers Class A shares with fixed dividends for income-focused investors, and Class B shares that carry higher risk but can convert into common stock. Metaplanet described the move as a safeguard against dilution, while unlocking significant funding potential for its Bitcoin strategy.
Crypto thefts hit $163M in August as hackers shift strategy
Crypto hackers and scammers stole over $163 million from the crypto space in August across 16 separate attacks — with a social engineering attack against a Bitcoiner accounting for the lion’s share of losses.
Blockchain security firm PeckShield said in an X post on Monday that August’s losses are a 15% increase compared to July, which only recorded $142 million, though it’s down 47% year on year.
Cybersecurity experts told Coinelegraph the increase in August was driven by hackers shifting their efforts to high-value targets and the rise in crypto prices.
Both Bitcoin and Ether experienced new all-time highs in August. Bitcoin crossed over $124,000 on Aug. 14, while Ether stormed past $4,946 on Aug. 24.
