Will SEC and CFTC Ever Come to a Compromise?

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Will SEC and CFTC Ever Come to a Compromise?

Konstantin Rabin, financial expert and crypto enthusiast, takes a look at how regulatory institutions are different in terms of Bitcoin regulation and whether they will come to an agreement at all.

Will SEC and CFTC Ever Come to a Compromise?

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Source: CoinSpeaker

US Counsel Hints Bitwise & VanEck bitcoin ETF proposals On SEC’s Way

Bitcoin ETF, the very hot topic since late 2018 is on way to SEC’s final decision. According to the latest SEC’s announcement and the tweet by Jake Chervinsky who serves as Defense Counsel in the U.S hints that SEC’s decision for pending Bitwise and VanEck Bitcoin ETF is near – the countdown begins.
To remind, the VanEck Bitcoin ETF was filed in conjunction with CBOE (Chicago Board Options Exchange) and resubmitted to SEC with few amendments in late Jan 2019. On the other hand, the Bitwise Asset Management’s ETF was filed with NYSE Arca and published the proposal in the Federal Register on Feb 15, 2019. However, SEC didn’t respond to any ETF yet, in fact, it had asked to withdraw ‘Reality Shares’ its ‘partial-bitcoin ETF’ a day after submission.
Furthermore, in the history of ETF until today, there’s no definite decision from SEC – but this time, the team has recently announced via ‘Federal Register’ that ‘BitWise and VanEck’ ETF proposals are under review. Means that on Feb 20, 2019, SEC announced that initial decision on ETF is on way and they have also initiated ‘countdown of 45 days’ to decide – whether the approval, rejection or extension.

In a similar regard, Jake Chervinsky – who quite often shares the status on SEC’s decision towards important crypto assets and proposals including ETFs – took to Twitter, notifying the sequel update as ‘the clock is running on ETF proposals’. His tweet goes as follows;

The clock is running on the new Bitwise & VanEck bitcoin ETF proposals. The SEC's current deadlines are April 1 for Bitwise & April 6 for VanEck.
Remember, the SEC can & likely will delay up to three times. The absolute final deadlines to watch are October 13 & 18 respectively.
— Jake Chervinsky (@jchervinsky) February 20, 2019

Counting the initial 45 days after the proposal formally published in the ‘Federal Register on Feb 20, the response would be expected to reveal after March 13. Furthermore, the US SEC would take another three weeks (ie. Expected April 5) to announce its decision. Notably, Jake clarified the SEC’s current deadlines for Bitwise is April 1 and for VanEck is April 6.
At the moment, any comment from both the firm is still not made public – stay tuned with Coingape to know more what would likely happen with ETF before the SEC finally revealed its decision.
The post US Counsel Hints Bitwise & VanEck bitcoin ETF proposals On SEC’s Way appeared first on Coingape.
Source: CoinGape

45 Days Left for SEC to Decide on CBOE-VanEck Bitcoin ETF

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45 Days Left for SEC to Decide on CBOE-VanEck Bitcoin ETF

On April 5th, 2019, the SEC will have to announce their decision to either approve, deny or extend the decision-making period on Cboe/VanEck/Solid X’s Bitcoin ETF.

45 Days Left for SEC to Decide on CBOE-VanEck Bitcoin ETF

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SEC and CFTC Set to Collaborate To Regulate Bitcoin ETFs and Other Investment Products

Reports revealed that the high profile regulators of the crypto market, SEC and CFTC is open to collaborating to regulate crypto investment products, including Bitcoin ETFs.
SEC Commissioner Hints To Collaborate
However, during ‘a Bipartisan Policy Center event’ last week which themed on ‘The Year Ahead for Capital Markets’, the Securities Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) discussed the better approach on regulating crypto products such as futures and ETF based on Bitcoin. At the event, so-called Crypto Mom, the SEC commissioner, Hester Peirce says that;
“At the SEC we’ve been unwilling to … sign off on a bitcoin ETF, an exchange-traded product based on bitcoin. My concern about our approach in that area is it looks a little bit like a merit-based approach judging the underlying bitcoin markets.”
An Exchange-traded fund based on Bitcoin is on rich bulletins every new day – since SEC is reluctant to approve ETF filings. In fact, Coingape reported that SEC has forced ‘a partial bitcoin ETF proposal, submitted by ‘Reality shares’ to withdraw it.

SEC staff requested to withdraw the ETF proposal submitted by @RealityShares On Next Day of Filinghttps://t.co/gCq8GPFQVU#SEC #ETF #BitcoinETF #Bitcoin #Cryptocurrency #Crypto #Finance #Bitcoinfutures
— CoinGape (@CoinGapeMedia) February 14, 2019

CFTC Follows Self-Certification Rule
Although regulations on Bitcoin and Crypto isn’t certain at many locations of the world the firms are building many projects on top of it. In Peirce view, regulators should be at their best diligence to decide on any product which are built on top of the market and those that are not regulated yet. With this, she argued that;
There are lots of markets that aren’t regulated but we nevertheless build products on top of them.” She said“I think we have to be very careful with that kind of reasoning’.
As such, the discussion took over by Brian Quintenz who is the CFTC Commissioner. He explains that any contract before they present will ensure that it meets the requirements of the Act. He notes that;
“We have a process in the Commodity Exchange Act that allows the exchanges to self-certify a contract if they believe it meets the requirements of the Act.
With the self-certification process, CBOE and CME will proceed with the contract that they see has good potential and opportunity to take forward. Elaborating this, CFTC commissioner argues that we disagree you when we really see a project has a better opportunity and ‘we self-certify that contract’.
 “[Both CBOE and CME Group] pursue that self-certification [route] so these contracts get listed without our approval but also without our disapproval.”
Interested in Working Together
Taking these sneaky points, Peirce goes on discussing the current market scenario which is quite confusing on regulatory stance. While explaining the better way on deciding crypto assets, Peirce hints to collaborate SEC and CFTC to serve better on providing guidelines. In her words;
“[This is] an area where I think Brian and I are interested in working together.”She continued, there [are] questions about where your jurisdiction ends and ours begins and again we don’t want to have overlap there so you know my main concern has been that I think we need to do a better job providing guidance,”
So readers, what do you think of SEC and CFTC collaboration if it happens? Do you think it onboard the clarity in the crypto market? share your opinion with us.
The post SEC and CFTC Set to Collaborate To Regulate Bitcoin ETFs and Other Investment Products appeared first on Coingape.
Source: CoinGape

SEC could include Bitwise’s Bitcoin ETF in federal registers; proposal under review for approval

Since the turn of 2019, the SEC has been prominently involved in the sphere of cryptocurrencies with certain institutions reaching out for Bitcoin ETF approvals. To add to this, the recent remarks made by former SEC Commissioner Robert Jackson Jr, that it was only a matter of time before a Bitcoin ETF gets approval, has stirred a lot of attention towards the independent US government federal agency.
According to reports, the US Securities and Exchange Commission [SEC] have initiated the process of considering a rule change for listing the Bitcoin ETF proposal submitted by Bitwise Asset Management and NYSE Arca on February 11.
The proposal itself was published in the Federal Register on 15 February, which leaves the authorized personnel with 45 days to make the initial decision to approve, reject or further extend the proposal, even though the SEC will, in total, have a duration of 240 days to make the final decision on whether to approve or disapprove the proposal.
The Bitcoin ETF application was first put forward by Bitwise Asset Management in January 2019, but it could not get published in the Federal Register due to the US government shutdown. However, there has been a new turn of events now, as the proposal is now under review by the SEC.
According to the initial registration statement, the ETF would track the Bitwise Bitcoin Total Return Index, which takes the value of Bitcoin and any meaningful hard forks into account.
Moreover, what’s unique about Bitwise’s Bitcoin ETF is that the company wants its fund to be supported with spot prices from exchanges and physically settled futures contracts. This is different from any other BTC ETF that was proposed before, as previous ETFs were supported with cash-settled contracts.
According to the initial formal statement, the Bitwise ETF would track the Bitcoin Total Return Index, which will take the value of Bitcoin, and further significant hard forks into consideration.
Moreover, the company’s BTC ETF would want their fund to be supported with spot prices from exchanges and physically settle future contracts. This sets the company’s ETF apart from the earlier BTC ETFs that were put forward and supported with cash-settled contracts.
Bitwise’s global head of Exchange-Traded Funds, John Hyland, painted an optimistic image and seemed hopeful that the SEC will approve their Bitcoin ETF.
He stated,
“While there can be no assurance that the 19b-4 application will be granted or the SEC will review and ultimately accelerate the registration statement, we are optimistic that 2019 should be the year that a bitcoin ETF launches.”
The SEC has in the past turned down its approval for several Bitcoin ETF proposals. However, since SEC Commissioner Robert Jackson Jr’s statement, Hester Peirce, another commissioner at the SEC has come forward and offered optimism about the eventual approval of a Bitcoin ETF.
The news around Bitcoin ETFs have invited a lot of attention from crypto enthusiasts around the world who hope that a successful ETF will lead to an event which will help take the virtual currency out from the current bearish trend.
The post SEC could include Bitwise’s Bitcoin ETF in federal registers; proposal under review for approval appeared first on AMBCrypto.
Source: AMB Crypto

SEC Could Approve the First Bitcoin ETF in Next 45 Days as Review Process Begins

Well, after all the wait and drama surrounding the Bitcoin ETF, the US SEC has finally announced that it is beginning the process of reviewing Bitcoin ETF applications again and has picked up the Bitwise application for initial review.
SEC publishes Bitwise proposal in Fed Register on Feb 15
Are we in sight of a Bitcoin ETF? Well, there is every possibility as the U.S. Securities and Exchange Commission (SEC) announced it is moving forward with its process for the ETF approval and beginning to review the Bitcoin ETF rule change proposal filed by NYSE Arca and Bitwise Asset Management on Feb. 11. The proposal itself was published in the Federal Register on Feb. 15, starting the countdown of 45 days which SEC has to make its initial decision on whether to approve, reject or extend the proposal.
Even though NYSE Arca and Bitwise had filed the application at the start of 2019, there was no way ahead because of the US government shutdown. But all seemed to back on track now as the Federal Register has been amended on February 15th, 2019 marks the start of the much-awaited process.
The process of approval is still lengthy and has several roadblocks, Bitwise Bitcoin ETF has generated quite a lot of hype of being different which could get a nod from the SEC. The proposed ETF gets its valuation from physically settled Bitcoin futures contracts, something that has never been proposed before.
Bitwise’s global head of Exchange-Traded Funds John Hyland remains hopeful that the SEC will approve their Bitcoin ETF. His confidence is clearly visible when he was quoted saying
“While there can be no assurance that the 19b-4 application will be granted or the SEC will review and ultimately accelerate the registration statement, we are optimistic that 2019 should be the year that a bitcoin ETF launches.”
Bitwise was recently founded in 2017 and is headquartered in San Francisco. The firm’s team is made up of professionals with decades of asset management experience. Some of the firm’s members come from backgrounds such as Facebook, Wealthfront, BlackRock, NYLife Investments, IndexIQ, US Commodity Funds, Goldman Sachs, JPMorgan, and ETF.com.
The company has also pioneered the first cryptocurrency index fund and is the leading provider of rules-based exposure to the crypto asset space. Together, the firm features 4 best-in-class crypto indexes: Bitwise 10 Large Cap, Bitwise 20 Mid Cap, Bitwise 70 Small Cap, and Bitwise 100 Total Market. While many firms have attempted this previously, Bitwise has meticulously designed to follow a clear-set rule base that takes various factors into account
Will Bitwise ETF find the holy grail and be the first US SEC approved Bitcoin ETF? Do let us know your views on the same.
The post SEC Could Approve the First Bitcoin ETF in Next 45 Days as Review Process Begins appeared first on Coingape.
Source: CoinGape

Yet Another Bitcoin ETF submitted to SEC, But Mixed With Sovereign Debt and Bitcoin Futures

Submitted to the United States Securities and Exchange Commission on February 11, new bitcoin ETF by a subsidiary of Blockforce Capital is a new move. The newly filed proposal is called ‘Reality Shares Blockforce Global Currency Strategy ETF ’ which contains both – the sovereign debt instruments as well as Bitcoin futures.
ETF Beyond Bitcoin Futures
Reality Shares ETF is primarily a subsidiary of Blockforce capital, a US-based crypto firm. On Monday, the firm has filed a registration form with SEC to list its new ETF on NYSE Arca. According to the new proposal, the fund ’s portfolio involves futures traded on Cboe future exchange and the Chicago Mercantile Exchange. On top of these, it also includes sovereign debts and money market mutual funds.
The registration form reads that;
“The Fund expects to obtain exposure to Bitcoin Futures by investing up to 25% of its total assets, as measured at the end of every quarter of the Fund’s taxable year, in a wholly-owned and controlled Cayman Islands subsidiary. However, the Adviser will seek to limit the Subsidiary’s investment in Bitcoin Futures, so the Fund’s aggregate notional exposure to Bitcoin Futures is limited to 15% of the Fund’s net assets at the time of investment.”

Furthermore, the filing explains that out of 25 percent of its total assets, it would limit 15 percent of notional exposure to BTC allocation and on the other hand, 10 percent would be allocated to money market instruments.
15 [percent] of the Fund’s net assets representing notional exposure in Bitcoin Futures and (iii) 10 [percent] of the Fund’s net assets in Money Market Instruments for margin and/or cash management purposes, each as measured at the time of purchase (the ‘Target Portfolio’).”
What’s your stake on Reality Shares ETF filing with SEC? Do you think the proposal gets a green signal from regulators? Share your opinion with us. 
The post Yet Another Bitcoin ETF submitted to SEC, But Mixed With Sovereign Debt and Bitcoin Futures appeared first on Coingape.
Source: CoinGape

Bitcoin ETF is Just a Matter of Time, Says Prominent Wall Street Advisor Ric Edelman

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Bitcoin ETF is Just a Matter of Time, Says Prominent Wall Street Advisor Ric Edelman

According to Ric Edelman, the founder of Edelman Financial Engines, ETFs will eventually meet the demands of the SEC and get the Commission’s approval.

Bitcoin ETF is Just a Matter of Time, Says Prominent Wall Street Advisor Ric Edelman

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SEC Commissioner Brings another Hope, shares “What Does not Constitute a Security Offering”

Hester Peirce known as Crypto Mom has yet again spoken in favor of cryptocurrencies. Recently, the leaked interviews of SEC Commissioner gave us hope for Bitcoin ETF approval. Now, Hester Peirce, SEC Commissioner is talking about the most crucial aspect that is “security offerings.”
Blockchain-based Networks doesn’t Fit Neatly within Securities Framework
In her latest speech on “Protecting the Public While Fostering Innovation and Entrepreneurship,” she addresses cryptocurrencies that has been challenged by regulators all over the world, along with SEC. Peirce shares that the “very essence” of this space that is decentralization makes regulating it challenging.
The existing securities law are designed with the assumption that “every issuer has someone at the helm who can authoritatively disclose the relevant material information about the organization.” However, Peirce says,
“Blockchain-based networks offer a new way of coordinating human action that does not fit as neatly within our securities framework.”
She further notes that the objective of these projects is to “run on diffuse contributions” instead of centralized entities that run networks. “In the end, there may not be anyone steering the ship.”
“As Director Hinman noted in his speech, it is the nature of the transaction that determines whether an offering of securities has occurred, not the item being sold.”
Director Hinman had said that “Once “a network becomes truly decentralized, the ability to identify an issuer or promoter to make the requisite disclosure becomes less meaningful” and offers and sales of tokens are no longer subject to the securities laws.”
Whether and How Regulation should be Employed
Giving an example of the Basis project, that returned $133 million in capital to its investors due to not being compliant with the security regulations, she says, “my antennae will go up when apparently legitimate projects cannot proceed because our securities laws make them unworkable.”
Once more blockchain projects mature, she says, clear lines could be drawn. And this delay, she says, “may actually allow more freedom for the technology to come into its own.”
The point is not only the regulation of token sales but also the platforms where they are traded. She also addresses the “great interest” in Bitcoin ETFs where the approach is merit-based regulation, noting that the regulators are “impulsive in running away from anything labeled crypto,” just like investors “jumping blindly at anything labeled crypto.”
She concludes that regulators must think carefully about, “whether and how regulation should be employed,” as there are potential consequences of regulation that involves substituting a government mandate, overruling private arrangements, and the penalty for failure to comply with the mandate.
The post SEC Commissioner Brings another Hope, shares “What Does not Constitute a Security Offering” appeared first on Coingape.
Source: CoinGape

Leaked Interview with Hopeful SEC Chief: Bitcoin ETF is on the Horizon

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Leaked Interview with Hopeful SEC Chief: Bitcoin ETF is on the Horizon

SEC Commissioner Robert J. Jackson recently did an interview with Congressional Quarterly, a publishing company who report primarily on the United States Congress, where he expressed views that an SEC-approved Bitcoin ETF is inevitable.

Leaked Interview with Hopeful SEC Chief: Bitcoin ETF is on the Horizon

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VanEck Adds Dozens Pages in Bitcoin ETF Proposal – CEO Set for SEC Approval

The latest report on VanEck SolidX Bitcoin ETF states that around 30 ‘hardcore’ pages have been included in the revised proposal. The very first proposal of VanEck has been submitted to the SEC during June 2018 and has been withdrawn due to Govt shutdown on Jan 23, 2019. However, as Coingape reported, it has again resubmitted with proposed modification on Jan 31, 2019.
ETF with 30 “hardcore” pages
Today, on Feb 08, 2019, a new release by Micky media explains that ‘various pages have been included in the filing’. VanEck’s CEO Gabor Gubacs says on CNBC’s Crypto Trader show ‘we’ve incorporated changes to the proposal’.
“There are some changes on it, we have incorporated changes to the proposal based on regulatory feedback and based on feedback from market participants,” Gubacs said.
Moreover, at this time, the ‘compelling arguments’ and reasoning have been made on how earlier ETF (built other than on bitcoin) has been approved in the past. He certainly says that ‘they have learned’ and made the best effort in this proposal. Mr. Gubacs hints to release correspondence that the firm had with the regulators – this effort was to let the market understand what VanEck learned during the time.
“Basically analogous markets, so like they’re gold and commodities markets and some of the shipping markets… So we have presented some scenarios were the SEC approved an ETF which had less transparency to the market, where pricing in those markets was not as built out as Bitcoin and the custody of the underlying assets were also not as built out,”
According to CEO Gurbacs, VanEck with SolidX and Cboe exchange steps towards including 30 pages to the ETF. These dozens of pages describe their ‘extensive consultations’ carried out since June last year (the time when first ETF proposal submitted). It contains learning and findings from such meetings with regulators and marketers at large.
“Something like 30 pages were added, it’s hardcore analysis on why Bitcoin is ready for an ETF.”
The post VanEck Adds Dozens Pages in Bitcoin ETF Proposal – CEO Set for SEC Approval appeared first on Coingape.
Source: CoinGape

VanEck is trying to bring Bitcoin into the financial system a little better than others, says Director of Digital Assets Strategy

Gabor Gurbacs, Director of Digital Asset strategy at VanEck, spoke about whether there were any changes made in the VacEck Bitcoin ETF when it was refiled, during an interview with CNBC Crypto Trader. He also spoke about the firm’s stance on the exchange-traded fund.
The Director first spoke about the topic as to whether there were any changes made to the ETF or whether it was the same proposal as before. Here, he remarked that there were indeed some changes made to the recent proposal. He added that the changes were incorporated based on the regulatory feedback and the feedback from market participants. He said:
“some of those changes are related to basically analogous markets so like their gold and commodity markets and some of the shipping markets, freight shipping markets out there and and so we have presented some scenarios where the SEC approved an ETF which had […] less transparency to the market where pricing in those markets were not as built out as Bitcoin”
He went on to say that there were few changes concerning custody pricing and market manipulation. According to him, the changes made by the firm make up an additional 30 pages to their initial proposal, wherein the firm presents a “hardcore analysis” as to why Bitcoin is ready for an ETF.
He further spoke about whether withdrawing their initial proposal due to the government shut-down was a good decision as it gave them an opportunity to make the changes they wanted in the proposal.
“Yes, I believe this proposal is much stronger than sort of the previous one. We just formally incorporated the answers we spent over a year and a half two years educating the SEC and other regulators on this pricing custody and market manipulation concerns and the appropriate answers to that but now as formerly part of the proposal”
This was followed by Gurbacs claiming that VanEck is committed to bringing a Bitcoin ETF to the market and that the 240 days period laid down by the regulatory body decide on its fate is “something that is imposed by law”, even though it is considered as a very important timeline. According to him, the most important aspect is whether the exchange-traded fund addresses the problems, which the firm claims it does.
Furthermore, he also stated that institutional investors are “not comfortable” to step into the cryptocurrency space because of the hacks and uncertainty of the safety of the funds.
“All these hacks and exchange runs and things things like that and and so institutional investors do not feel comfortable engaging if there is not better vehicles and assurances in the market and today there’s just not so we’re trying to kind of bring Bitcoin into you the financial system a little bit better than most other people did”
The post VanEck is trying to bring Bitcoin into the financial system a little better than others, says Director of Digital Assets Strategy appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC]: SEC Commissioner says that Bitcoin ETFs might eventually be approved

The Bitcoin ecosystem has been continuously meddling around with rumors regarding the approval of Bitcoin ETF for the past year.  With the news which surfaced recently regarding the SEC initiation into research to develop a new tool to monitor risk, now an SEC Commissioner is predicting that a Bitcoin ETF will eventually get the approval.
The news has hit the crypto universe via a long interview discussion between SEC Commissioner Robert J Jackson Jr and Congressional Quarterly (CQ) which was scheduled to be published on February 11, 2019. However, a Twitter account holder named Drew Hinkes got hold of the interview draft, which was shared across the social media network.
Source: Twitter
According to the interview, Robert J Jackson Jr, a lone Democratic Commissioner at the agency, said that several crypto-based ETF applications were up for consideration to get the SEC approval but it was not mentioned in the interview draft which specific application stands the highest chance of getting the particular approval.
He also stated:
“A fund based on bitcoin will eventually pass muster at the Securities and Exchange Commission despite that agency’s actions to deny all previous efforts.”
Today, a handful of other bitcoin ETFs continue to seek SEC approval. Last week, Cboe re-submitted the bitcoin ETF proposal from VanEck and SolidX. That ETF, initially proposed last summer, is seen as the most promising ETF in the industry. The deadline for approval was initially set in February. Due to the government shutdown, however, the ETF was re-submitted, pushing its deadline back until later this year.
Currently, a bunch of other bitcoin ETFs have continued to seek the highly desired approval. VanEck and SolidX combined proposal of the bitcoin ETF was submitted about a week ago through CBOE. The ETF was actually proposed last summer itself and the deadline for approval was set for February of 2019. However, due to the government shutdown, the deadline was pushed back and the ETF was re-submitted to the SEC.
Bitcoin ETFs are not a new form of proposition pushed forward as several ETF denials have occurred due to the SEC’s fears of market manipulation and unreliable price discovery in the industry. However, Bitcoin ETFs have started to fight the SEC’s consensus notion that Bitcoin markets can be manipulated. Jackson said in the interview:
“The BZX exchange argued that bitcoin markets are inherently difficult to manipulate. But the SEC found that the proposal doesn’t establish the kind of surveillance common in stock markets, and the commissioners also were concerned with the lack of liquidity in certain bitcoin markets, their trading volume and the ability to safeguard proprietary information.”
The post Bitcoin [BTC]: SEC Commissioner says that Bitcoin ETFs might eventually be approved appeared first on AMBCrypto.
Source: AMB Crypto

SEC Commissioner Hints Proposed Bitcoin ETF Will Be Approved

On Feb 07, 2019, the interview paper on ‘Bitcoin ETF’ revealed in advanced, wherein SEC Commissioner, Robert J Jackson Jr talks about the possibility of ETF’s approval with Congressional Quarterly Inc,
The long interview discussion between Robert J Jackson Jr and Congressional Quarterly (CQ) scheduled to publish on Feb 11, 2019. However, the draft copies of the same interview have already been spread out on social media by a Twitter user ‘Drew Hinkes ‏’.

#SEC Commissioner Jackson in an interview to be published next weeks is optimistic that a "fund based on #bitcoin" will eventually be approved, expresses concern about the proposed ETFs submitted to date. pic.twitter.com/3BCuiBd4CB
— Drew Hinkes (@propelforward) February 5, 2019

The leaked paper claims that ‘proposed Bitcoin ETF’ will eventually be approved this time’. During the interview, Jackson who is the lone Democratic commissioner at the agency predicts that some applicants will co-relate to SEC’s minimum perquisites for crypto ETF to get approved. ‘Below is the draft copy of the interview leaked in advance’

Although Bitcoin ETF is hot topic ever – but history doesn’t record any proposal that SEC has already approved. In fact, many applications in similar regards have already been failed to receive the green signal from SEC. Moreover, Jackson’s view this time is quite optimistic and if it happens, it would be a milestone for the cryptocurrency. As paper note Jackson’s words;
Eventually, do I think someone will satisfy the standards that we’ve laid out there? I hope so, yes, and I think so
However, it’s quite interesting to see, will the interview’s actual release on Feb 11 contains the exact information as the leaked papers.! It would be even more interesting to wait until SEC’s final decision and watch whether or not it correlates to the prediction of Jack.
Stay tuned with Coingape to get updates on Bitcoin ETF and SEC’s final decision.
The post SEC Commissioner Hints Proposed Bitcoin ETF Will Be Approved appeared first on Coingape.
Source: CoinGape

A Look at Some of the Biggest Stories Happening in the Crypto World

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A Look at Some of the Biggest Stories Happening in the Crypto World

In this guest post, Max Hasselhoff, integration engineer from Bytecoin and long-standing crypto enthusiast, takes a look at some of the biggest stories happening in the sphere of crypto technology integration.

A Look at Some of the Biggest Stories Happening in the Crypto World

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Source: CoinSpeaker