Bitcoin ETF: SEC Receives 84% Negative Feedback on Application

The SEC received just seven comment letters from the public in response to a solicitation for feedback it had requested in February 2019. Of those, six urged the agency to reject the application. (That’s around 84%.) The industry’s enthusiasm for a Bitcoin ETF (exchange-traded fund) appears to be waning — if you judge that by … Read more

The Depository Trust & Clearing Corporation Provides Guidelines for Security Tokens and Post Trade Responsibilities

The Depository Trust & Clearing Corporation (DTCC) has published guidelines on security tokens and post trade responsibilities. The issuance of these guiding principles are an important step in the utilization of the issuance and ongoing trading of blockchain based securities tokens or crypto assets. DTCC recognizes the need for safety, security, and reliability around these … Read more

CBOE Will Not List Bitcoin Futures in March, Cites Need to Assess Crypto Derivatives

The Chicago Board Options Exchange (CBOE) will not add a new Bitcoin (BTC) futures market in March, the firm said in a statement on March 14. Per the statement, CBOE is re-evaluating how it approaches trading digital assets. CBOE said: “CFE is not adding a Cboe Bitcoin (USD) (“XBT”) futures contract for trading in March … Read more

Japan to unleash national digital currency J-Coin Pay

A group of Japanese financial institutions (FIs) will launch a digital currency platform next month offering a smartphone payment service using QR codes. Will launch on iOS and Android on 1 March 2019 Called J-Coin Pay, 60 FIs are involved – including Mizuho, Japan Post Bank, Ogaki Kyoritsu Bank (OKB), Bank of Toyama, Shinsei Bank, … Read more

SEC Adds More Specificity in Latest Initial Coin Offering (ICO) Warning

In addition to its standard warnings about the generalized risks of ICO-investing and advice to interested ICO issuers that they read the SEC’s 2017 21(a) report, the agency’s latest guide to ICOs (initial coin offerings) gets more specific about the “fraud and manipulation” risks posed by ICOs, “because the markets for these assets are less … Read more

FBI Outline Key Features of Scam ICOs, Warns Investors to Be Vigilant

The FBI has outlined what it believes to be the consistent threads running through fraudulent initial coin offerings. The United States Federal Bureau of Investigation (FBI) has outlined what it believes to be the consistent threads running through fraudulent initial coin offering (ICO) schemes. The Bureau’s perspective was shared in an interview with Netherlands-based financial … Read more