Late evening shocker on the financial airways – The SEC rejects the Bitwise Bitcoin ETF proposal, well before Monday’s deadline decision date. Reporters on the late shift suddenly went into high gear, filling nearly every news channel with the shocking news. Matt Hougan, Bitwise's Head of Research, had just told everyone that, “We're closer than…
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SEC, in surprise move, rejects the Bitwise BTC ETF proposal before the mandated deadline. According to Cointelegraph and Coinbase, the SEC hurriedly put out a press release after hours on Wednesday to announce its negative decision. The regulator cited that the Bitwise proposal was not “designed to prevent fraudulent and manipulative acts and practices”. The…
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Yoni Assia, the CEO and co-founder of eToro, a social trading and multi asset brokerage company, made a recent appearance on Charlie Shrem’s podcast, Untold Stories. During his interview, he expressed two general concerns. The first had to do with the world’s need for a publicly accessible digital currency, which would be fully transparent and…
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There’s gold in them thar hills, or so say-ith the Australian Taxation Office (ATO) and most other major taxing jurisdictions across the globe. After years of lenient auditing practices with regard to crypto tax collection, officials have suddenly realized that there could be enormous payoffs, ripe for the picking, for only investing a few million…
Read moreWhile the SEC is pondering whether to grant the existence of a Bitcoin ETF, it is not wasting time in charging the cryptocurrency industry, where appropriate. The financial regulator has fined the blockchain company Block.one for unregistered ICO. The fine was $24 million. According to the SEC, the ICO raised billions of dollars in digital…
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The Trump Administration's policy decisions are taking a toll on a number of countries: from China to Argentina, governments are thinking of new, "innovative" ways to fight the economic sanctions imposed by President Trump and his office. North Korea is one of those countries. The latest news is that the country is currently working towards…
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The latest news from India is that executives for crypto related entities are in the process of moving offshore. The rather drastic consequence is a direct result of a proposed law that would criminalize all things crypto in “the first large democracy to ban an innovative technology such as crypto.” 10-year jail sentences would apply…
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While regulatory bodies around the world are still making their minds up about cryptocurrency regulation, Netherland's central bank, De Nederlandsche Bank (DNB), has just announced that it will start regulating the crypto sector in the country by January 10, 2020. DNB has invited all crypto exchanges and wallet providers to submit more information about their activities…
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We have consistently heard from the Securities and Exchange Commission (SEC) that a prerequisite for a Bitcoin Exchange-Traded Fund (ETF) is that the ETF must have “good custody”. SEC Chairman Jay Clayton’s actual remark in an interview with CNBC in November of last year was: We care that assets underlying that ETF have good custody…
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Just when the dust was beginning to settle after the “round-the-globe” tongue-lashing of Facebook’s Libra project, regulators from the EU have decided in their infinite wisdom to turn up the volume a notch once more. The latest “twist” in this ongoing melodrama is that officials in the European Economic Union are concerned about potential anti-trust…
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