The U.S. Securities and Exchange Commission (SEC) again delayed its decision about Bitcoin exchange-traded fund (ETF) proposed by New York-based investment-management firm Wilshire Phoenix.As per the public filing, SEC needs to assess the proposed rule change to allow NYSE Arca in order to deal with shares of Wilshire Phoenix’s Bitcoin and Treasury Investment Trust. Arca first started seeking regulatory approval from the SEC for a different type of stablecoin. Dubbed as the Arca UST Coins –...
Read More »Crypto Exchange Giant Binance Finally Launched US Trading
Malta-based cryptocurrency exchange Binance has finally opened up it’s long-awaited “store” in America’s part of the crypto-space, by launching trading on its new exchange for U.S. users. Today, on September 24, Binance.US has been officially launched.https://t.co/AZwoBOy3iq Opens Trading For BTC, ETH, XRP, BCH, LTC, BNB and USDThttps://t.co/Sc8MkzYkn4 pic.twitter.com/wlv9SCshlM— Binance.US (@BinanceAmerica) September 24, 2019The company hopes that by doing so, it could enlarge its influence...
Read More »Bitcoin and Altcoins Lose Steam as Bakkt Records Poor Start Amidst Today’s Crypto Congress Hearing
When Bakkt was first announced last year, the entire crypto community welcomed it as a great addition to the sector, hoping that it will have enough power to propel the industry considerably higher. However, even though many think it’s still a little too soon to judge, the first day of Bakkt’s launch has not exactly been encouraging as the overall market has dropped in valuation in response to Bakkt’s weak first day.After the first hour, Bakkt recorded only about five contracts and even 9...
Read More »Kik Shutting Down Its Messaging App, CEO Threatens to Quit
The Canadian social media and messaging app company Kik said to be thinking about possible shutting down of its popular Kik messaging app.Two people familiar with the matter claim that the company is moving all the app’s users to alternative platforms. They also added 70 employees of Kik’s Israeli cryptocurrency subsidiary Kin being noticed about possible layoffs even though some will allegedly be offered the option of transferring to a new company that is based on the same technology, the...
Read More »Trading for Bakkt Bitcoin Futures Goes Live But Bitcoin Price Tanks Below $10,000
ICE‘s Bakkt platform has finally announced its Bitcoin Futures contracts going live today, September 23. Bakkt‘s Bitcoin Futures launch comes as per its earlier announced schedule after the U.S. Commodities and Futures Trading Commission (CFTC) gave the exchange a green signal last month.We’re live!The first Bakkt Bitcoin Futures trade was executed at 8:02pm ET at a price of $10,115— Bakkt (@Bakkt) September 23, 2019As part of the announcement, Bakkt provides two contracts – Bitcoin Daily...
Read More »Bitwise Creates Document Explaining Why the Time for a Bitcoin ETF Has Come
Bitwise has produced a 31-page document that it has sent to the Securities and Exchange Commission (SEC). The purpose of the document is to suggest why the world is ready for a bitcoin exchange-traded fund (ETF). A Chance for Bitwise to Take Over?For the most part, this is nothing new. Van Eck Solid X ultimately forwarded a similar statement to the SEC earlier this year, only to withdraw its ETF proposal at the last minute. This withdrawal took place a few days ago when a final decision...
Read More »U.S. Congress to Discuss Cryptocurrency With SEC Right After Bakkt is Launched
On Sept. 19, the Committee on Financial Services came to an agreement that the topic, “Oversight of the Securities and Exchange Commission: Wall Street’s Cop on the Beat,” would be the topic of discussion and Sept. 24 was chosen as the D-day, which is, just for a reminder, the day after Bakkt launch.This hearing will consist of the chairman of the SEC, Jay Clayton, Commissioner Hester Pierce, who is also known as Crypto Mom, and three other commissioners.Will Libra Make It Into the List of...
Read More »Bitcoin Will Not Be Listed On Major Exchanges Without Better Regulation, Says SEC Chairman
Generally, the fact that the United States Securities and Exchange Commission (SEC) is not very supportive of the cryptocurrency industry is no longer news. The SEC has many times before, spoken out against cryptocurrencies because of their volatility and unregulated nature.Even efforts to launch Bitcoin Exchange-Traded Funds (ETF), have been largely unsuccessful as a few days ago, the Chicago Board Options Exchange (CBOE) withdrew its application to float the VanEck/SolidX Bitcoin ETF, just...
Read More »Jay Clayton: Regulation Is the Answer to Bitcoin’s Problems
Jay Clayton, the Securities and Exchange Commission (SEC) chairman, doesn’t think bitcoin will ever be traded on a major exchange… That is, until serious regulation comes along. Without regulation, BTC, in his mind, will never achieve the mainstream status it so desperately longs for. Clayton: We Need More Rules for BTCAt press time, bitcoin’s primary attempt to become “legit” has suddenly dissipated, with CBOE, VanEck and Solid X withdrawing their bitcoin exchange-traded fund (ETF) from the...
Read More »SEC Chief: You’re ‘Sorely Mistaken’ if You Think Bitcoin’s All Grown Up
Think Bitcoin's ready for prime-time trading on a major stock exchange? SEC Chairman Jay Clayton says you're "sorely mistaken." | Source: REUTERS / Aaron P. Bernstein U.S. Securities and Exchange Chairman Jay Clayton just delivered a rebuke to cryptocurrency backers, alleging that Bitcoin is unlikely to trade on a major US exchange until it's much better regulated....
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