"SEC Streamlines Crypto Probe Process; Kraken Expands in EU; Coinbase Lists New Tokens; Ethereum Boosts Gas Limits"

The U.S. Securities and Exchange Commission (SEC) has implemented a new investigation approval process under Acting Chair Gary Gensler. This change aims to streamline the process for approving investigations into potential securities law violations. The new process involves a more centralized decision-making structure, with the Division of Enforcement's leadership playing a more significant role in approving investigations.

The SEC's Division of Enforcement has been actively investigating various aspects of the cryptocurrency market, including initial coin offerings (ICOs), decentralized finance (DeFi) platforms, and stablecoins. The new investigation approval process is expected to enhance the efficiency and effectiveness of these investigations, allowing the SEC to address potential violations more promptly.

In addition to the new investigation approval process, the SEC has also been focusing on other regulatory developments in the cryptocurrency market. For instance, the Commodity Futures Trading Commission (CFTC) has been scrutinizing event-based prediction markets, such as those offered by Crypto.com and Kalshi, for potential regulatory violations. The CFTC is investigating whether these contracts should be classified as "gaming" under the Commodities Exchange Act.

Meanwhile, Kraken, a popular cryptocurrency exchange, has received an EU MiFID license, enabling it to expand its derivatives services in Europe. The company has also resumed its U.S. staking services after meeting the conditions set by the SEC during their regulatory agreement.

Coinbase, another major cryptocurrency exchange, has announced its intention to list Ether.fi (ETHFI) and Bittensor (TAO) on its platform. This move is expected to enhance market confidence and trading volume for these tokens, as Coinbase's rigorous compliance framework ensures that only reliable projects gain access to its platform.

In other news, Ethereum has raised its gas limits for the first time since 2021, boosting the appeal of ETH. The increase in the gas limit allows Ethereum to process more transactions and improve network throughput, which can add to investor demand for ETH and help buoy the world's second-largest token.