Here’s what happened in crypto today

Here’s what happened in crypto today. 

AI-generated article sparks Gary Gensler resignation rumors

Crypto Twitter was briefly set ablaze after an unverified rumor that the United States Securities and Exchange Chair Gary Gensler was to resign, citing an “anonymous SEC official.”

While many were skeptical of the purported source, others quickly shared the information with their own networks, further fanning the  rumors. 

Anyone else think the Gary Gensler resign rumor is bullsh*t?

— XRPcryptowolf (@XRPcryptowolf) July 2, 2023

However, an investigation from Cointelegraph found that the source of the rumor — an article posted on “thecryptoalert.com” — is likely to have been written by artificial intelligence, scoring a 96.81% on ZeroGPT.

The website on which the article is hosted also raised questions given its limited posts to date, all of which also scored high with the third-party AI analysis tool

While Cointelegraph reached out to the SEC for comment, the rumor appears to have been quashed after Fox Business Network reporter Charles Gasparino reportedly heard back from the SEC confirming Gensler has not resigned.

US SEC deems spot Bitcoin ETFs filings as inadequate: Report

The United States Securities and Exchange Commission (SEC) put a temporary pause on recent ETF filings from BlackRock, ARK Invest, Fidelity and others citing incomplete paperwork.

According to the SEC, the exchanges failed to provide adequate disclosure concerning which exchange partner and surveillance-sharing agreements.

So the SEC wants the ETF proposals to specify the spot exchange with which an information sharing agreement is established with. Which is now missing. This is page 42 of the Blackrock proposal. I’m guessing now not a deal breaker. But bull run on pause regardless. pic.twitter.com/rsPW34wVME

— Alex Krüger (@krugermacro) June 30, 2023

South Korea passes crypto bill to tackle unfair trading

The South Korean government is taking steps to protect cryptocurrency investors from implosions like Do Kwon’s Terra ecosystem by passing a new crypto bill.

The legislation reportedly integrates 19 crypto-related bills, providing a unified bill defining digital assets and imposing penalties for illicit trading activities like using undisclosed information, market manipulation and other unfair trading practices in crypto.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.