Despite calls from U.S. Representatives Mike Flood, Wiley Nickel, Tom Emmer and Ritchie Torres for the U.S. Securities and Exchange Commission (SEC) to immediately approve the listing of a spot Bitcoin (BTC) exchange-traded fund (ETF), the agency has once again delayed its listing plan. Decide.
When it comes to VanEck and ARK 21Shares’ spot Ethereum (ETH) ETFs, the SEC delayed decisions to December 25 and January 10 respectively, while GlobalX will have to wait until November 21 to make a decision. It also postponed decisions on spot Bitcoin ETF applications from Invesco, Bitwise and Valkyrie until mid-January.
The latest delay comes two weeks ahead of a scheduled second deadline for many applicants, who had hoped to hear back from the securities regulator by October 16-19. The timing of the delay may be related to the narrow avoidance of a U.S. government shutdown that could have roiled the country’s financial regulators and other federal agencies.
Bitwise Asset Management has reacted to delays in its spot Bitcoin ETF and revised its application in response to SEC objections to the product. In its revised filing, Bitwise discusses what the SEC calls a “mixed” or “uncertain” academic record on the lead-lag relationship between BTC futures and spot markets.
Another Chinese court recognizes Bitcoin as property
China’s Shanghai No. 2 Intermediate People’s Court recognized Bitcoin as a unique and non-replicable digital asset, while also recognizing its scarcity and intrinsic value. According to the court report, digital currencies such as Bitcoin stand out as unique and non-replicable Internet technology products. The report pointed out that among the many digital currencies, Bitcoin is different and unique from other digital assets. It has key currency characteristics such as scalability, ease of circulation, storage and payment.
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Taiwan bans unregistered foreign cryptocurrency exchanges
Taiwan’s Financial Supervisory Commission (FSC) has laid out key points for regulating Taiwan’s cryptocurrency market, releasing industry guidelines for virtual asset service providers (VASPs) operating in the country. In the guidelines, the authorities mentioned standard industry-wide rules such as separating exchange financial assets from customer assets and reviewing virtual asset listing and delisting mechanisms.
The FSC also requires foreign VASPs not to provide services in Taiwan without obtaining the necessary approvals from regulators: Overseas virtual asset platform operators are not allowed to provide business within the country (…) unless they have been registered in Taiwan in accordance with the law. “
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Hong Kong to list ‘suspicious’ cryptocurrency platforms
The Hong Kong Securities and Futures Commission (SFC) will publish a list of all licensed, deemed licensed, closed and pending virtual asset trading platforms (VATPs) to better help the public identify potentially unsafe businesses operating in Hong Kong. Regulated VATP. Hongkong. The SFC said it will also maintain a dedicated list of “suspicious VATPs” in an easily accessible and conspicuous section of the regulator. website.
The new regulations come immediately after the JPEX cryptocurrency exchange scandal, which local media described as one of the worst cases of financial fraud ever seen in the region. JPEX was accused of marketing its services to Hong Kong residents without applying for a license in Hong Kong.
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