2 Crypto News of the Day:Good or Bad News Depends on Perspective

1-Ripple leaders attack SEC after appeal

Ripple CEO Brad Garlinghouse accused SEC Chairman Gary Gensler of furthering “regulation by enforcement”. Gensler will leave the SEC on Jan. 20 after leading bitcoin regulation.

Garlinghouse warned that these attempts ignore public concerns and the 2024 elections.Chief Legal Officer Stuart Alderoty added to the criticism by saying the SEC denied Ripple's request to extend its appeal brief, due January 15.

Alderoty considered the ruling needless but remained confident in Ripple's legal position. He believed the lawsuit will be resolved under new SEC leadership.The SEC and Ripple are in court since 2020.

By selling XRP without registering it, Ripple violated securities regulations, according to the SEC. Ripple argues that XRP is a digital asset like Bitcoin or Ethereum, denying the charges.A judge ordered Ripple to pay $125 million in fines in August 2024, changing the case. SEC refused Ripple's request to postpone submitting its appeal brief after the verdict was appealed.

2-BlackRock shares 3 tips to increase Bitcoin ETF acceptance in 2025

In a recent market insights study, BlackRock's Head of Thematics and Alternative ETFs, Jay Jacobs, noted Bitcoin ETFs' quick rise. He said that crypto asset use had outpaced mobile phones and the internet.

BlackRock analyzed data from NPR, Bloomberg, and the Cambridge Center for Alternative Finance and found that 300 million mobile phone users took 21 years to reach.

The internet takes 15 years to achieve that milestone. Only 12 years later, crypto reached that number of users.Jacobs said Bitcoin's global and decentralized structure makes it a possible worldwide monetary alternative that may profit from global instability and falling faith in institutions and government fiat currencies.Some investors still struggle to accept Bitcoin as an investment because to its complexity, including creating crypto trading accounts, exorbitant fees, and security issues.

However, he thinks ETFs may let conventional investors access Bitcoin more easily.“Despite rising bitcoin adoption, direct bitcoin investing is complicated for investors. We created IBIT, the iShares Bitcoin ETF, to make bitcoin exposure easy for everyone, said the BlackRock executive.

First, BlackRock thinks Bitcoin ETFs may be traded on typical brokerage platforms alongside bonds, equities, and other ETFs. Bitcoin ETFs make it easier for investors to invest in Bitcoin without buying it on crypto exchanges.

Jacobs stated that investors frequently need to establish up their own custody agreement outside of their crypto exchange to protect their bitcoin, which may be expensive and hazardous. He concluded by explaining how BlackRock and Coinbase

Prime are utilizing multi-year technological integration into IBIT to maximize investor benefits. “IBIT’s launch is rooted in iShares’ commitment to providing access, making bitcoin exposure available to more investors through the convenience, efficiency, and familiarity of an ETF,” Jacobs said. On Jan. 14, crypto.news revealed that BlackRock's IBIT was the only Bitcoin ETF to receive $29.46 million. The bulk of Bitcoin ETFs recorded outflows or no flows.

3-Telegram-linked TON seeking U.S. growth

The foundation hired Kingsway Capital Partners founder Manuel Stotz as president as part of its U.S. growth plan. Bloomberg says Stotz will follow Steve Yun, who will continue on the board. The Open Network, a blockchain network, lets Telegram's 950 million users pay for in-app purchases and play games using Toncoin.

The foundation moved to the U.S. because it believes it will become a bitcoin innovation center.President-elect Trump's desire to make the U.S. a leader in the digital asset industry contrasts with the previous administration's tighter restrictions.After first being skeptical, President-elect Donald Trump now supports bitcoin.

He described Bitcoin as freedom, sovereignty, and independence from government in a July 2024 Nashville address. Trump's policies show his crypto support. He wants to make the U.S. “the crypto capital” and propose a Bitcoin strategic reserve. Trump also established his family's cryptocurrency firm, World Liberty Financial, indicating his personal interest. In 2020, Telegram settled with the SEC for its crypto project fundraising efforts.

4-US, Japan, and South Korea advise web3 enterprises against recruiting North Korean IT staff

The US, Japan, and South Korea cautioned the blockchain sector of North Korean cyberattacks that might disrupt the global financial system. The Japanese authorities said on Jan. 14 that the Lazarus Group targets exchanges and investors to steal bitcoin.

North Korean hackers use social engineering tools like TraderTraitor and AppleJeus, and the governments advised web3 firms to reread earlier recommendations to avoid employing DPRK IT professionals. According to the statement, the U.S. Crypto-ISAC and analogous activities in Japan and South Korea promoted private-public collaboration.

The DPRK stole $308 million from Japanese crypto exchange DMM Bitcoin and $50 million from South Korean trading platform Upbit in 2024. At the Cyberwarcon convention in late November 2024, researchers detected multiple North Korean hackers masquerading as remote I

T workers and recruiters for multinational corporations. The report also found Sapphire Sleet and Ruby Sleet, two North Korean cyber gangs that stole $10 million in six months by acting as recruiters or venture capitalists.

5-Satoshi Action Fund raises $300,000 for Bitcoin advocacy

With two weeks left in the campaign, Satoshi Action Fund CEO and co-founder Dennis Porter tweeted that the group had raised $300,000 of its $500,000 target. This news shows SAF's continuous advocacy for Bitcoin-friendly state and federal legislation to ensure Bitcoin's role in future regulatory frameworks.

SAF has promoted BTC and mining policies beyond donations. Over 20 bills have been introduced, with four passing. According to SAF's website, the group has met with over 2,000 state and federal officials and held over 20 public hearings to promote BTC's economic, social, and environmental benefits. SAF promotes BTC mining for grid stability and sustainability.

SAF has also promoted a U.S. strategic BTC reserve. The plan has attracted backing from Senator Cynthia Lummis and former President Donald Trump. The group works together with policymakers and the public to ensure BTC adoption benefits society and promotes technical and economic progress.Porter's tweet updates SAF's fundraising status and reiterates the group's aim to promote BTC and oppose legislation that restrict its potential.

6-Arbitrariness strikes again

A federal appeals court decided parts of the SEC v. Coinbase case yesterday, but its implications will take time to be determined. Coinbase was sued by the SEC for securities breaches in June 2023. It rejected the crypto exchange's regulation petition in December.

The petition said that the SEC's crypto regulating approach utilizing securities laws is “unworkable.”The agency responded with one paragraph, the judge noted. The SEC disagreed, saying it “has discretion to determine the timing and priorities of its regulatory agenda.” In a Monday court ruling, Judge Stephanos Bibas stated: Agencies may select rulemaking or adjudication. He said, “But they must explain their choice, and the SEC failed to do so.” The SEC won a partial victory since the court did not require rulemaking processes.

The statement states that the SEC has “reasonably explained that the existing securities law framework is not predicated on the assumption that it will never burden any potential new market participants.”

However, the court finds the SEC's ruling “conclusory and insufficiently reasoned, and thus arbitrary and capricious.” The answer? Bibas said, “It should not give yet another poor explanation in an already-long line of them.” “We’re reviewing the decision and will determine next steps as appropriate,” an SEC representative said.

Did you see paragraph seven's “arbitrary and capricious”? It's seldom used, but you may remember it from an Administrative Procedure Act lawsuit. The court found the SEC's denial of Grayscale's application to convert its Bitcoin Trust to an ETF (while allowing bitcoin futures funds) “arbitrary and capricious.” Grayscale triumphed. The government failed to “explain its different treatment of similar products,” judges said.

7-Bank of England's 'Digital Pound Lab' will test CBDC ideas

This year, the Bank of England (BoE) will start a "Digital Pound Lab" to build a central bank digital currency. The lab will be a sandbox for CBDC API testing, creative use cases, and business models.According to the BoE's digital pound progress report issued Tuesday, the lab will allow business sector partners to investigate functional and technical advances.

While designing, the project intends to provide UK payments and technology industries with relevant information. "Experiments and proofs of concept during design will continue to benefit UK payments and technology sectors," the research added. "The ‘Digital Pound Lab’ in particular being able to provide a platform for functional and technological experimentation with a broad range of private sector partners."