Wakey wakey, eggs, and all things digital assets! GhostFi™ is here to ensure your morning starts with a healthy dose of a crypto knowledge download.

First of all, please share this link with anyone you know who wants to learn about investing in the crypto space or who can use updated news to make better moves in the market: https://www.ghostfi.media/

Here’s what we have for you today:

• SEC vs Bittrex: The Crypto Smackdown We Never Knew We Needed

• Study Reveals Almost 40% of NFT Buyers Hoping for Long-Term Profit

• Buckle Up: Ripple's Legal Battle with the SEC Shakes Up the Cryptocurrency World

• UK's Crypto Regulation May be Accelerated by a Successful Pilot of Bank of England's CBDC

• Rookies’ Corner

SEC vs Bittrex: The Crypto Smackdown We Never Knew We Needed

In a rather ironic turn of events, Bittrex, a cryptocurrency exchange that recently announced it would no longer do business with US citizens due to economic inviability, has been hit with a lawsuit by the Securities and Exchange Commission (SEC) for operating as an unregistered broker, clearing agency, and exchange.

The SEC is accusing Bittrex of knowing that it was violating securities laws, and of directing issuers of crypto assets to "scrub" their public statements of any language that could raise questions from the SEC. The SEC has ordered Bittrex to stop violating securities laws and to "disgorge on a joint and several basis all ill-gotten gains," with interest. SEC Chair Gary Gensler has long criticized the lack of regulatory clarity in the virtual currency business, and the agency's practice of arbitrary "regulation through enforcement."

The SEC's lawsuit against Bittrex lists several virtual currencies that the agency asserts are securities, including Dash, Algo, and NCC.

Study Reveals Almost 40% of NFT Buyers Hoping for Long-Term Profit

So, have you heard about NFTs? They're like digital unicorns that can't be cloned and are kept safe in a magical blockchain. They're mostly used to represent cool things like digital art, music, and videos. Some folks even think NFTs could be the next big thing in the world of investing, shaking things up and offering artists new ways to cash in on their work.

But be warned, investing in NFTs can be a bit like roller-skating down a mountain. It's thrilling, but things can quickly go pear-shaped. To avoid ending up with a collection of worthless pixels, do your research and stick with reputable galleries or auction houses, or established artists. NFTs might also help level the playing field in the art world, giving artists a way to sell directly to collectors.

Of course, there are some teething problems, like the occasional security breach, but many people are still jazzed about the potential of NFTs as a new investment frontier.

GhostFi’s™ Recommend Exchange

Buckle Up: Ripple's Legal Battle with the SEC Shakes Up the Cryptocurrency World

Oh boy, Ripple's got itself in quite the legal tangle with the SEC over whether or not its XRP digital asset is a security. The SEC claims that Ripple raised over $1.3 billion in 2013 through the sale of unregistered digital assets. Ripple, however, argues that the SEC's guidelines weren't clear enough, and they didn't receive fair notice of what activities would be deemed illegal.

If Ripple manages to come out on top, it could really shake things up for financial transparency rules and give us a glimpse into how corporations can dispute regulatory interpretations while staying on the right side of the law. But if they lose, well, it could mean stricter regulations for the whole cryptocurrency gang.

Either way, this lawsuit is a big deal for the crypto industry and its regulatory landscape. A win for Ripple could set a precedent for other digital currencies facing similar legal challenges, and make cryptocurrencies seem like a safer investment. So buckle up, folks, this is gonna be one wild ride!

UK's Crypto Regulation May be Accelerated by a Successful Pilot of Bank of England's CBDC

So, the Bank of England and the Bank for International Settlements did this thing called Project Meridian, where they used central bank money to buy a house by coordinating messages between systems. Now, they're hoping that this successful pilot will finally get UK lawmakers to hurry up and finalize their crypto regulations.

The plan is to use APIs to extend this system to other asset classes, but we'll see how that goes. And if you're worried about stablecoin settlements, don't worry, the new Financial Services Markets bill will define the rules for that. The best part? Once the bill becomes law, the crypto industry players will have some time to comply. So, start your countdowns now!

Rookies’ Corner

What is a Web Wallet?
Official MetaMask Learn Lesson 2.

Crypto Tool of the Week

Phantom Press

Coinbase Sets Sights on UK Crypto Hub As Regulatory Uncertainty Looms at Home in the US
Amid swirling regulatory uncertainty in the United States, top American crypto exchange Coinbase is emphasizing its efforts to make inroads in the United Kingdom. While visiting London this week for UK FinTech Week 2023, Coinbase CEO Brian Armstrong and met with MP Andrew Griffith, the UK’s economic secretary to the Treasury. Says the Coinbase CEO […]

Top Eight Must-Have Features To Look For in a Mobile Crypto Wallet
Looking for a reliable mobile crypto wallet? Check out these top eight must-have wallet features to ensure your crypto assets stay safe and secure on the go. Introduction With the rise of cryptocurrencies, secure and reliable storage has become immensely important for crypto traders around the globe. For storage, mobile crypto wallets have become an […]

Bank of Russia to set up entities for crypto mining and cross-border settlement: Report
Ripple CTO David Schwartz says he wants to have as many people as possible to have no barriers to using XRP. In a tweet to his 434,000 Twitter followers, Schwartz says that he is often asked about whether certain technologies should be exclusively compatible with XRP. According to Schwartz, he prefers to live in a […]

Lack of stablecoin regulation could push issuers out of the US — Austin Campbell
Lawmakers didn’t reach a consensus between political parties on a stablecoin bill, with one witness warning that this lack of regulatory clarity could drive certain projects abroad.

SPOOKY MEMES

AI-GENERATED ELON IMAGE OF THE WEEK
JUST BECAUSE WE CAN.

Share GhostFi with your friends/family who can learn more about getting in the game. Send them this link: https://ghostfi.media

Juno Finance is our favorite on/off ramps at the moment. Connect your banks, and move USD via ACH transfers, or with your debit card instantly. Purchase crypto fee-free, and move it to any exchange. You can back out crypto to cash as well. Spend money with your card to earn 5% cash back.
***Highly Recommended Account***

PROTECT YOUR CRYPTO, NFTS, AND TOKENS FROM HACKERS WITH OUR CC EAL5+ CERTIFIED SECURE CHIP - Buy One Now!

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.