SEC Continues to Delay Decisions on Cryptocurrency ETFs: Law Decoded ScrgruppEn

Although US representatives Mike Flood, Willie Nickel, Tom Emmer, and Richie Torres asked the Securities and Exchange Commission (SEC) to immediately approve the listing of exchange-traded funds (ETFs) for Bitcoin (BTC), the agency once again delayed Her decision. resolution.

When it comes to VanEck and ARK 21Shares Ethereum (ETH) ETF discovery, the SEC delayed decisions until December 25 and January 10, respectively, while GlobalX will have to wait until November 21 for the commission’s decision. It also delayed a decision on Invesco, Bitwise and Valkyrie’s spot Bitcoin ETF orders until mid-January.

The latest delays came two weeks before a second scheduled deadline for many applicants, who had expected to hear from the securities regulator by October 16-19. The timing of the delay may have been related to the narrowly avoided US government shutdown, which would have crippled the country’s financial regulators and other federal agencies.

Bitwise Asset Management has responded to the delay of its spot Bitcoin ETF with a revised application, in response to SEC objections to the product. In its revised application, Bitwise addressed what the SEC called a “‘mixed’ or ‘inconclusive’ academic record” on the relationship between bitcoin futures and spot markets.

Another Chinese court recognized Bitcoin as property

The No. 2 Intermediate People’s Court of Shanghai recognized Bitcoin as a unique and non-duplicable digital asset while recognizing its scarcity and inherent value. According to the court’s report, digital currencies such as Bitcoin stand out as unique and non-replicable Internet technology products. The report notes that among a sea of ​​digital currencies, Bitcoin is different and unique from other digital assets. It has key currency features such as scalability, ease of trading, storage and payment.

Continue reading

Taiwan bans unregistered forex exchanges

Taiwan’s Financial Supervisory Commission (FSC) has formulated the critical points for regulating the cryptocurrency market in Taiwan, and issued industry guidelines for virtual asset service providers (VASP) operating in the country. In the guidelines, the authority mentioned industry-wide standard rules such as separating exchange treasury assets from client assets and reviewing mechanisms for listing and delisting virtual assets.

The FSC also asked foreign virtual asset service providers to refrain from offering their services in Taiwan without obtaining the necessary approvals from the regulator: Overseas virtual asset platform operators are not permitted to conduct business within the country’s territory. […] Unless they are registered in accordance with the law.”

Continue reading

Hong Kong will list ‘suspicious’ cryptocurrency platforms.

The Securities and Futures Commission (SFC) of Hong Kong will publish a list of all licensed Virtual Asset Trading Platforms (VATPs) that are licensed, closed and awaiting application to better assist members of the public in identifying potentially unregulated VATPs doing business in Hong Kong. . The Financial Supervision Commission said it will also maintain a dedicated list of “suspicious VAT”, which appears in a prominent and easily accessible part of the regulators’ guide. website.

The new rules come directly after the ongoing JPEX cryptocurrency exchange scandal, a case that local media is describing as one of the worst cases of financial fraud to ever hit the region. JPEX is accused of promoting its services to Hong Kong residents despite not having applied for a license in the country.

Continue reading

Latest news about Bitcoin, Ethereum, Blockchain, Altcoin, Litecoin, Ripple, Mining, Policy and Regulations, Cryptocurrency prices, and Technology

Related Articles

Back to top button