Expect the SEC to Target More Token Exchanges After EtherDelta

The Securities and Exchange Commission’s (SEC) settlement with the founder of EtherDelta is likely the first of many enforcement actions to come against crypto token exchanges. Until recently, the SEC’s scrutiny of the cryptocurrency industry largely focused on projects and teams that raised money through initial coin offerings (ICOs) in possible violation of securities laws. But a person familiar with the SEC’s thinking told CoinDesk Thursday that crypto trading platforms have become a significant priority for the agency’s enforcement division. As such, the news that the SEC had charged EtherDelta founder Zachary…

EtherDelta Founder Charged by SEC For Operating an Unregistered Exchange

In an apparent first, the U.S. Securities and Exchange Commission (SEC) has charged the founder of EtherDelta, Zachary Coburn, with running an “unregistered national securities exchange,” according to a press release from the regulator. “EtherDelta provided a marketplace for bringing together buyers and sellers for digital asset securities through the combined use of an order book, a website that displayed orders, and a ‘smart contract’ run on the Ethereum blockchain,” the agency noted. EtherDelta’s users have processed over 3.6 million orders for ERC20 tokens during an 18-month period, including those…

Why An SEC Announcement Is What Stands Between Bitcoin (BTC) and a $7,200 Price Value

From the onset of this article, I would like to let the reader know that I am not a Technical Analysis expert. Any further opinion in this piece is based purely on fundamentals and observations. Therefore, looking at the performance of BTC since the expiration of last month’s CME Bitcoin Futures contracts on the 26th of October, we can easily tell that it has a price momentum of moving past the $6,600 level experienced by some traders only a few hours ago. Effect of BTC Futures Traditionally, whenever Bitcoin futures…

5 Reasons Why VanEck’s Bitcoin ETF Will Likely be Approved by SEC

At a meeting with the US Securities and Exchange Commission (SEC) commissioner Elad L. Roisman, representatives from SolidX, VanEck, and CBOE presented five major reasons why the commission should approve the Bitcoin exchange-traded fund (ETF) filing of VanEck and SolidX. VanEck, an investment management firm headquartered in New York that has decades of track record in the traditional finance sector and hundreds of ETFs filed under its name, outlined the following points the SEC should consider in approving its Bitcoin ETF: There now exists a significant regulated derivatives market for…

SEC Sets Up Open Line of Communication for Fintech Projects With FinHub

The U.S. Securities and Exchange Commission (SEC) has launched a new office to engage with cryptocurrency and blockchain startups. Called the Strategic Hub for Innovation and Financial Technology (FinHub), the division will make it easier for fintech startups to interact with the regulator on related issues and the legal implications of products before they launch them. Announced Thursday, October 18, 2018, FinHub will serve as the central point for entrepreneurs in the fintech world, especially groups focusing on new technologies such as blockchains, artificial intelligence, digital marketplace financing and more.…

SEC Charges Forex Broker for Illegal Securities Swaps Involving Bitcoin

In what seems like the first coordinated strike from government agencies, the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the Federal Bureau of Investigation (FBI) have taken action against a securities broker for violating federal laws in connection with security-based swaps funded by bitcoin. On September 27, 2018, the SEC announced that it had filed charges at a U.S. District Court for the District of Columbia against Marshall Islands-based securities company 1pool Ltd., also known as 1Broker, and its Austria-based CEO Patrick Brunner for…

Elon Musk Wants Advice on Twitter Crypto Scammers, the US SEC Wants Comments on BTC ETFs

Coming every Sunday, the Hodler’s Digest will help you to 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 Japanese Cryptocurrency Exchange Zaif Hacked Of Reported 5,966 Bitcoins As a result of a security breach on September 14, hackers have managed to steal 4.5 billion yen from Japan’s Zaif cryptocurrency exchange, as well as 2.2 billion yen from the assets of the…

VanEck/SolidX ETFs Delayed Again as SEC Seeks Comment on Fund Proposal

The U.S. Securities and Exchange Commission (SEC) has once again postponed a decision on the application for a Bitcoin Exchange Traded Fund (ETF) by VanEck and SolidX, in what is the latest update in a protracted regulatory process that has dragged on for several months. The agency has stated that it needs more time to consider more input to help it arrive at a decision on the matter, which was originally postponed to September 29, 2018. The Long Wait for an ETF Despite the huge market appetite for a bitcoin…

Bitcoin (BTC) Price Watch: Reversal Pattern Confirmation on SEC Order

Bitcoin Price Key Highlights Bitcoin price looks ready to confirm its double bottom reversal formation as it tests the neckline. A break higher could lead to a rally that’s the same height as the chart formation, which spans $6,100 to $6,650. Technical indicators, however, are reflecting bullish exhaustion. Bitcoin price could be due for an uptrend as it tests the neckline of the short-term double bottom formation. Technical Indicators Signals The 100 SMA recently crossed below the longer-term 200 SMA to signal that the path of least resistance is to…

SEC Shouldn’t Hold Back in Approving Crypto Products

The US Securities and Exchange Commission (SEC) commissioner Hester Peirce has stated that the government should not limit the emergence of new products in the crypto market based on the perceived weaknesses of Bitcoin. According to Peirce, the SEC should not force crypto markets to be subjected to comprehensive government regulation just to deploy products on top of the markets. She explained: “The Commission should not default to a demand that the crypto markets be subject to comprehensive government regulation as a precondition to allowing products linked to those markets…