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ETF ISSUERS PUSH SEC TO RESTORE ‘FIRST-TO-FILE’ APPROVAL PROCESS—CRITICIZE REGULATORY DELAYS ON STAKING & ALTCOIN ETFS
A group of leading ETF firms is urging the SEC to return to the “first-to-file” approval model, claiming the current system undermines innovation and rewards passive behavior.
VanEck, 21Shares & Canary Capital Fire Back at the SEC
📨 ETF issuers VanEck, 21Shares, and Canary Capital have submitted a formal letter to the U.S. Securities and Exchange Commission (SEC) calling for a reinstatement of the first-to-file approval system for ETFs.
🔍 Their main arguments:
- Skipping the queue discourages innovation
- Delays stifle investor choice
- The current system hurts competition
“The reduced incentive for pioneering product development… compromises market efficiency and fundamentally undermines the commission’s mission.”
They also warned that regulatory inconsistency may cost the U.S. its leadership in financial innovation.
Crypto ETF Momentum Grows Under Trump Administration
Since President Trump’s inauguration, there has been a noticeable surge in crypto ETF applications, reflecting growing expectations for a more favorable regulatory climate.
Yet, despite increased activity, SEC delays are widespread.
SEC Slow-Walks Approval on Staking & Altcoin ETFs
Staking and altcoin ETF filings have multiplied — but so have SEC postponements.
Notable delays include:
- Grayscale’s spot Solana ETF – Now pushed to October
- Staking and XRP ETFs – Delayed with no early approvals expected
Analyst Insight:
“Almost all of these filings have final due dates in October. Early decisions are out of the norm.” — James Seyffart, Bloomberg ETF Analyst
📉 Even REX-Osprey’s staked ETF products, which had effective registration statements, were halted due to SEC concerns over fund structure — dimming expectations for near-term launches.
Why It Matters
With institutional interest booming and crypto markets expanding, regulatory clarity and efficiency are now mission-critical.
Returning to a transparent and orderly “first-to-file” process could:
- Reinvigorate innovation
- Restore trust among issuers
- Accelerate broader crypto ETF adoption
Final Thought
As crypto ETFs evolve into a pillar of digital asset investing, the SEC’s next moves could define U.S. market leadership for years to come.
@ Newshounds News™
Source: Cointelegraph
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Ripple Launches Japan-Focused Web3 Program Backed by JETRO
Ripple teams with Web3 Salon to fund XRPL-based innovation in Japan—grants up to $200K, major events planned through 2026, and a bold push to accelerate real-world Web3 adoption in Asia.
Ripple Backs Japan’s Web3 Startups with Grants and Mentorship
Ripple is expanding its footprint in Asia with a dedicated initiative to support Web3 startups in Japan, in partnership with Web3 Salon, a program powered by Asia Web3 Alliance Japan and supported by JETRO (Japan External Trade Organization). The new program is designed to drive real-world development on the XRP Ledger (XRPL) by equipping Japanese entrepreneurs with capital, technical mentorship, and regulatory guidance.
▪️ Ripple & Web3 Salon will award up to $200,000 per startup
▪️ Program backed by Ripple’s Japan & Korea Fund
▪️ Four major events planned across Japan through March 2026
$200K Grants to Fuel XRPL Innovation in Japan
At the core of the program is Ripple’s Japan & Korea Fund, part of its broader $1 billion commitment to the XRP ecosystem announced in 2022. Japanese startups building solutions in DeFi, tokenized real-world assets (RWA), and digital payments on the XRPL are eligible to receive grants of up to $200,000.
Along with capital, startups will gain access to Ripple’s global investor and advisor network, offering early-stage founders strategic advantages in funding, business development, and scaling.
Mentorship & Market Strategy Led by Web3 Salon
While Ripple drives capital support and network access, Web3 Salon will take the lead on founder mentorship, compliance support, and go-to-market readiness. In a country with stringent but transparent crypto regulations, this collaboration is positioned to help startups navigate legal complexities and build sustainable, regulation-ready ventures.
Four Major Events Planned Through Early 2026
Ripple’s regional strategy is also reinforced through an ambitious event roadmap. Community leader WrathofKahneman confirmed that this initiative aligns with Ripple’s long-term expansion in Asia.
From now through March 2026, Ripple and Web3 Salon will co-host four major events in Japan, featuring:
- Pitch competitions
- Policy and regulatory panels
- Investor networking
- Web3 workshops and education
These events are designed to accelerate ecosystem growth and encourage collaboration among developers, policymakers, and enterprise partners.
Japan’s Web3 Opportunity: Clarity Meets Innovation
With its tech-savvy market, supportive institutions, and clear regulatory structure, Japan is uniquely positioned to become a Web3 powerhouse in Asia. Ripple’s strategic alignment with JETRO-backed Web3 Salon represents an institutional push to remove entry barriers for blockchain innovators.
As Ripple continues to invest in foundational technologies and ecosystems, Japan could emerge as a regional leader in real-world blockchain adoption—powered by the XRP Ledger.
@ Newshounds News™
Source: Coinpedia
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BRICS: 50+ Nations Now Use Yuan, Rupee, Ruble—Not US Dollar in Trade
BRICS-led de-dollarization deepens as over 50 countries shift to local currencies in energy and defense sectors, replacing dollar-based trade systems with yuan, rupee, and ruble.
BRICS Powers Global Shift Away from US Dollar
A global financial shift is accelerating as over 50 nations now conduct trade in yuan, rupee, and ruble, especially within oil and defense sectors, reducing reliance on the U.S. dollar. BRICS nations are at the center of this transformation, using currency trade agreements and new payment infrastructures to bypass the petrodollar system.
India and Russia Drive the Local Currency Trade Boom
The strategic cooperation between India and Russia has shown that local currency settlements are not only viable but efficient. India continues to buy Russian oil using rupees, directly paying energy giant Rosneft without the traditional SWIFT-based, dollar-centered mechanisms.
In defense trade, Russia supplies nearly 66% of India’s military imports, and these deals are increasingly settled in yuan, rupee, or ruble. Bilateral agreements have made national currency transactions standard, demonstrating that large economies can shift away from the dollar without friction.
India–Russia trade surged from $13B in 2021 to $27B in 2022—largely due to local currency payments.
Saudi Arabia Joins the De-Dollarization Movement
Saudi Arabia, long seen as a pillar of the petrodollar system, is now engaging in currency swaps with China and discussing yuan-based oil settlement mechanisms. This marks a historic turning point in global energy markets.
Russian President Vladimir Putin emphasized this shift during the BRICS Summit in Kazan:
“The dollar is being used as a weapon. We really see that this is so. I think that this is a big mistake by those who do this.”
Commonwealth Nations Embrace National Currencies
The Commonwealth of Independent States (CIS) has reached an advanced stage of de-dollarization: over 85% of cross-border trade within the bloc now uses local currencies, directly reflecting the BRICS influence in shaping regional currency practices.
Brazilian President Luiz Inacio Lula da Silva also criticized dollar hegemony, stating:
“Resorting to unilateralism undermines the international order… the consistent defense of multilateralism is the only path we must follow.”
BRICS Pay and Dollar-Free Infrastructure Expansion
To facilitate this growing currency shift, BRICS is rapidly developing BRICS Pay, a payment system that supports multinational trade in local currencies. While a single unified BRICS currency remains under discussion, BRICS Pay already allows seamless transactions outside the dollar system.
This infrastructure also helps countries circumvent sanctions while maintaining legal trade, contributing to the ongoing decline of petrodollar dominance.
Over 50 nations are now engaging in non-dollar trade across key sectors—marking a turning point in the global financial order.
@ Newshounds News™
Source: Watcher Guru
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