SEC Chair Clayton: Bitcoin Needs ‘Better Regulation’ Before Major Exchange Listing

Better regulation is needed around bitcoin markets before they can be traded on major exchanges, the head of the U.S. Securities and Exchange Commission said on Thursday. Speaking at CNBC’s Delivering Alpha conference, SEC Chairman Jay Clayton said investors are “sorely mistaken” if they think bitcoin and other cryptocurrencies undergo the same price discovery practices as products on top exchanges like the Nasdaq or New York Stock Exchange. “We have to get to a place, in my view — just speaking for myself — we have to get to a…

SEC Chief Who Pursued Actions Against ICOs, Kik to Resign

The Securities and Exchange Commision’s (SEC) chief of the Cyber Unit will step down in August, according to a statement. Robert A. Cohen will abdicate his role as executive enforcer for the cyber division founded in 2017, after 15 years of SEC service. “I’m grateful to Rob for his thoughtfulness, expertise and leadership in taking on the creation of the Cyber Unit,” said Chairman Jay Clayton. “He leaves the unit well-positioned to continue the critical work of protecting our markets and retail investors in this complex and continually developing area.…

Facebook Libra Might Never Launch, Company Concedes in SEC Disclosure

Facebook has acknowledged what many have been saying – that regulatory issues may be an insurmountable barrier to the launch of its Libra global cryptocurrency project. In a frank disclosure in the firm’s latest quarterly report to the U.S. Securities and Exchange Commission (SEC), the firm said that the many barriers it will face regarding regulating a new technology with unclear rules in the U.S. and other nations of the world, mean “there can be no assurance that Libra or our associated products and services will be made available in…

Live Streaming Startup YouNow Files SEC Filing for Compliant Token Earning for App Users

Live streaming startup YouNow, which created the decentralized digital video ecosystem Props in 2017 and is backed by Union Square Ventures, has filed a public offering with the United States Securities and Exchange Commission (SEC) for its Props token. The development was revealed in a press release shared with Cointelegraph on June 19. The YouNow app — which reportedly counts 47 million registered users — has submitted its application as a Regulation A+ filing with the SEC. Pending approval, the initiative could see accredited and retail users alike globally earning…

The SEC Has a New Exchange Traded Fund Application to Review

The U.S. Securities and Exchange Commission (SEC) has posted a new proposal from Crescent Crypto Index Services, a subsidiary of Crescent Asset Management, for the launch of a crypto-backed exchange-traded fund (ETF). According to the application, the company, which is based in New Jersey, will be looking to monitor the performance of a portfolio of ether (ETH) and bitcoin (BTC). The fund has been named the “USCF Crescent Crypto Index Fund” with “XBET” being its proposed ticker. It will also be sponsored by United States Commodity Funds LLC, a commodity…

“Publicly Traded Crypto Exchange” Bitcoin Generation Hit by SEC Sanctions

An official announcement published on April 29, 2019, has revealed that the United States Securities and Exchange Commission (SEC) has temporarily suspended the trading of shares in Bitcoin Generation (BTGN), a blockchain-based company out of Oklahoma. The company also operates a crypto exchange platform that supports popular cryptocurrencies, and it bills itself as the “first publicly traded cryptocurrency exchange.” Specifically, the regulator pointed out inaccuracies with information relating to a bond purchased by BTGN from a U.K.-based entity, as well as its stock valuation and the status of its financial…

SEC Required Two ETF Funds to Take Blockchain Off Their Tickers

The United States Securities and Exchange Commission (SEC) reportedly required two funds to eliminate the word “blockchain” from their monikers, Bloomberg writes April 12, citing sources familiar with the matter. The exchange-traded funds (ETFs) of both Amplify and Reality Shares reportedly mentioned blockchain in early filings. Per Bloomberg’s unarmed interlocutors, the two funds were encouraged to change their names at the last minute in 2018. Despite eliminating the word “blockchain,” the funds’ tickers still refer to the technology. Ampilfy’s funds are traded as BLOK, while the product is described as…

The SEC Guidelines are HERE! Release of Crypto Token Guidance

It’s been nearly six months in the making and now the US Securities and Exchange Commission (SEC) has finally published its regulatory guidelines for token issuers. Though many questions remain unanswered, crypto enthusiasts have finally got some clarity on the issue of “tokens as securities.” SEC Guidelines The SEC Guidelines focus on tokens and how and when they may be classed as a security. It includes examples of networks and tokens that fall under security laws, as well as examples of those that don’t. It outlines a number of elements…

Crypto News | SEC Rules ETH NOT Security; Binance Adds XRP

The cryptocurrency market is making a comeback this week, after closing out last week in the red. Crypto news was pretty slow last week, but it has picked up a bit today. This morning, CoinCenter released news that the SEC Chairman confirmed that ETH is not ruled as a security by the regulator. In addition to this big news, Binance announced it has added XRP and credit card payment support to its Trust Wallet app. Let’s get into it! Jay Clayton Rules ETH a “Non-Security” When investors began taking notice of…

SEC to Review NYSE Arca Bitwise Bitcoin ETF Proposal

Yet another journey to launch a bitcoin exchange-traded fund (ETF) has begun. According to a published notice, the U.S. Securities and Exchange Commission (SEC) has begun reviewing a proposed rule change for a bitcoin ETF filed by NYSE Arca and Bitwise. The Commission now has 45 days from the date of publication to make a final decision on whether to approve, reject or extend the rule change. Should the SEC require more time to review the proposal, it can extend the review period up to 90 days, once it gives…