SEC Commissioner concerned about the US lagging behind global Bitcoin ETFs

Securities and Exchange Commissioner (SEC) Hester Peirce voiced concerns over the United States lagging behind global jurisdictions in adopting cryptocurrency exchange-traded funds (ETF). During an online appearance at the Bitcoin (BTC) conference “The B Word,” Peirce pinpointed that many other countries like Canada have already been trading crypto ETFs so far, while the U.S. is still deciding on whether to approve such a trading instrument, stating: “I would never have imagined that I would be in this situation where we would not yet have approved one and other countries are moving…

Fund management firm Global X files with SEC for Bitcoin ETF

New York-headquartered fund manager Global X Digital Assets has filed an application for a Bitcoin (BTC) exchange-traded fund (ETF) with the United States Securities and Exchange Commission. Global X Digital Assets, which is the sponsor of the proposed trust, is affiliated with Global X Management Company, also known as Global X, and Mirae Asset Global Investments. Filed on July 21, the application indicates that the proposed Global X Bitcoin Trust would trade on the Cboe BZX exchange. As per the filing: “The Trust’s investment objective is to reflect the performance…

SEC Chairman says cryptocurrency falls under security-based swaps rules

The Securities and Exchange Commission, or SEC, may soon issue new rules for the regulation and registration of security-based swaps, including cryptocurrency. In a speech to the American Bar Association Derivative and Futures Law Committee SEC Chairman Gary Gensler laid out the changes coming to security-based swaps over the next year. The changes are designed to increase transparency and reduce risk to the market. The new requirements that will go into effect in November include new counterparty protections, requirements for capital and margin, internal risk management, supervision and chief compliance…

SEC delays another ETF decision, Binance news, and more sideways BTC price action: Hodler’s Digest, July 11–17

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week   New data hints why Bitcoin price action has spent two months at $30K Bitcoin (BTC) posted another week of range-bound price action. Bitcoin has traded in a fairly tight range over the past several days, acting more like a volatile stablecoin than the bullishly…

Judge allows Ripple to depose SEC official who decided ETH is not a security

San-Francisco-based fintech firm Ripple has notched up another small victory in its ongoing battle with the U.S. Securities and Exchange Commission. U.S. District Court Judge Sarah Netburn has denied the SEC’s motion to suppress the deposition of the former director of the SEC’s Division of Corporation Finance, William Hinman, in a ruling in New York on Thursday. In June 2018, Hinman said in a speech that based on his understanding of the Ethereum network and its decentralized structure the “current offers and sales of Ether are not securities transactions.” The…

SEC fines Coinschedule $200K over sponsored, favorable ICO ratings

The U.S. Securities and Exchange Commission has settled charges against the defunct initial coin offering (ICO) review website Coinschedule.com for violating the anti-touting provisions of federal securities laws. But two SEC commissioners have penned an open letter in response saying the settlement highlights flaws with the commission’s processes. According to a July 14 release from the securities regulator, Coinschedule failed to disclose it was receiving compensation from digital asset issuers for favorable reviews. The settlement’s terms state that Blotics, formerly known as Coinschedule, must pay a penalty of $154,434 plus…

SEC Places $200,000 Fine on ICO Site Coinschedule

Share this article The U.S. Securities and Exchange Commission has placed a fine on the ICO rating site Coinschedule, according to a news release. Coinschedule Took Money for Listings Between 2016 and 2019, Coinschedule was an active website. It listed and rated new cryptocurrencies or Initial Coin Offerings (ICOs). The SEC suggests that Coinschedule misrepresented its relationship with the issuers of those ICOs. Though Coinschedule’s ICO listings and trust scores were seemingly determined by its own proprietary algorithm, ICO issuers allegedly paid for those listings. According to the SEC, Coinschedule did…

SEC delays decision on Wisdom Tree Bitcoin ETF

On July 13, the Securities and Exchange Commission, or SEC, pushed back its decision on Wisdom Tree’s Bitcoin ETF with a request for public feedback. This request will allow members of the public to communicate their position on whether the trust should be approved or denied. The SEC’s notice stated: “The Commission requests that interested persons provide written submissions of their views, data and arguments with respect to the issues identified above, as well as any other concerns they may have with the proposal.” Public comments are required to be…

Grayscale Digital Large Cap Fund Obtains SEC Approval

Share this article American digital assets giant Grayscale has obtained approval to become an SEC-reporting company for its Digital Large Cap Fund, composed of Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ethereum Classic. Grayscale Large-Cap Fund to Follow GBTC and ETHE Rules Grayscale’s Digital Large Cap Fund has become an SEC-reporting company. This is Grayscale’s first SEC approval beyond Bitcoin and Ethereum. The world’s largest digital assets manager announced today that it had received approval for SEC’s Form 10 filed on Oct. 2, 2020. The document represents a general form for…

SEC charges individuals connected to former iced tea-turned-mining company

The U.S. Securities and Exchange Commission has filed charges against three people accused of insider trading with the Long Blockchain Company related to changing its name from the Long Island Iced Tea Company. In a Friday announcement, the SEC said Eric Watson, Oliver Barret-Lindsay, and Gannon Giguiere were facing charges in the U.S. District Court for the Southern District of New York for their role in trades connected to rebranding a beverage business to a blockchain firm, which caused the company’s stock price to rise significantly. Giguiere purchased 35,000 shares…