A US court has approved a protective order that will be responsible for managing the production, use, and disclosure of all information and materials provided by either party in the lawsuit brought by the US Securities and Exchange Commission (SEC) against Binance and its CEO CZ.

According to a report by Golden Finance, Morgan Stanley analysts warned investors last week that despite the recent losses of several court cases against cryptocurrency companies by the US SEC, cryptocurrency regulation in the US is unlikely to relax. Morgan Stanley analysts stated that due to the unregulated nature of the cryptocurrency industry, it is unclear whether regulatory tightening will significantly weaken the industry. We do not believe that US lawmakers will change their stance due to the aforementioned legal cases, especially with the memory of the FTX fraud case still fresh. US cryptocurrency regulations "remain uncertain".

Ripple CEO Brad Garlinghouse said that the SEC's actions against the cryptocurrency industry have failed to protect investors and that its regulatory strategy needs to be reassessed. The industry needs a new customized regulatory framework that takes into account the subtle differences of digital assets.

Representatives of the company are answering questions from two divisions of the U.S. Securities and Exchange Commission in the wake of Grayscale's court win over the agency.

BlackRock argues that the US Securities and Exchange Commission has no legitimate reason to treat applications for physically-backed cryptocurrency exchange-traded funds (ETFs) differently from those for futures-based cryptocurrency ETFs. After submitting a 19b-4 application to the SEC on behalf of the company on Nasdaq, BlackRock's physically-backed Ethereum (ETH) ETF called "iShares Ethereum Trust" was officially approved on November 9th. In its application, BlackRock questions the SEC's treatment of physically-backed cryptocurrency ETFs, claiming that the agency's reasons for repeatedly rejecting these applications are incorrect regarding regulatory differences between futures-based and physically-backed ETFs.

The SEC derided Binance’s request to have the regulator’s suit thrown out, claiming the crypto exchange hasn’t correctly applied the law.

According to Bloomberg ETF analyst James Seyffart's post on the X platform: "I have released a new study today. We still believe that there is a 90% chance of approval for the spot Bitcoin ETF application before January 10th. But if it is approved in advance, we will enter a window period during which all current applications may be approved."

On November 8th, it was reported that the United States Securities and Exchange Commission (SEC) stated in legal documents that Binance and its CEO CZ operated a securities trading platform in the United States without being registered, violating Section 5 of the Securities Act. The SEC accused Binance of providing and selling BNB tokens to US investors through its employees, and inducing investors to purchase through encrypted cryptocurrency investment projects such as BUSD, which constitutes unregistered investment contract sales. The SEC requested that the court reject Binance's motion, maintain the securities legal system, and impose legal sanctions on the relevant responsible parties. Previously, Binance US and its affiliated organizations requested that the District Court of Washington, D.C. reject the lawsuit filed by the United States Securities and Exchange Commission (SEC), stating that its accusations of money laundering transactions were "unsupported by facts". <br>In June, the SEC accused Binance US, which is affiliated with Binance Holdings Limited and BAM, of allowing Sigma Chain, a trading company owned by Binance CEO CZ, to conduct money laundering transactions.

Fox journalist Eleanor Terrett posted on X platform that the Financial Services and General Government (FSGG) bill released by the US House Appropriations Committee will be voted on by the Rules Committee at 4 pm Eastern Time and then submitted to the House of Representatives. This includes an amendment by Tennessee Congressman Rep Tim Burchett to reduce SEC Chairman Gary Gensler's salary to $1. It also includes an amendment to cut funding for the US Securities and Exchange Commission in cryptocurrency enforcement.

The US SEC has struggled to fill vacant Crypto Assets Specialist positions, with several crypto experts declining offers to work with the regulator. As of September 30, 2023, 491 out of 5,303 authorized positions in the SEC's office remained unfilled, including positions in the Division of Examination, Trading and Markets, and Enforcement. The SEC has cited a small pool of qualified experts and competition with the private sector as challenges in filling these positions, and the agency's prohibition on staff holding crypto assets has also been a hindrance. Filling these vacancies is a priority for the SEC in the next fiscal year to address gaps in the regulation of crypto activities in the US.