US SEC sets Nov 5 deadline for reviewing Bitcoin ETF Applications

The securities and exchange commission has outlined a time frame for reviewing proposed rule changes related to a number of diffirent applications for Bitcoin ETFs. The review period affects 9 applications. The SEC has asked for anyone to file a statement in support or rejection of the proposed ETFs by November 5. The regulator had found that the products did not comply with the requirements by the “Exchange Act Section 6(b)(5), in particular the requirement that a national securities exchange’s rules be designed to prevent fraudulent and manipulative acts and practices.” As a result, the applications are being reviewed. Continue reading US SEC sets Nov 5 deadline for reviewing Bitcoin ETF Applications

Cryptocurrencies are one of the top priorities in 2019 for SEC

In a report released December 20, 2018, one of the United States Securities and Exchange Commission’s top examination priorities this year is cryptocurrencies. In the report, digital assets (which are more specifically described in the document as cryptocurrencies, coins, and tokens) are included among the 6 themes for 2019 examination priorities. I wonder if this means the Bitcoin ETF application waiting for SEC approval (which the SEC has postponed decision making on until February 27th, 2019) will actually be decided on. Back in December, SEC commissioner said “not to hold your breath” waiting for a Bitcoin ETF. Continue reading Cryptocurrencies are one of the top priorities in 2019 for SEC