Bloomberg: 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 … Read more

Institutional Investment in Bitcoin Futures Drops as Price Settles: CFTC

The overall institutional investment in Bitcoin (BTC) futures on the Chicago Mercantile Exchange (CME) decreased this past week, according to data published by the United States Commodity Futures Trading Commission (CFTC) on April 9. The data shows that as of April 9, institutional investors and asset managers had 244 open long positions, a decrease of … Read more

‘Onerous’ FATF Recommendations Harmful for Crypto Transparency: Chainalysis

It’s unrealistic and bad for the crypto industry to expect exchanges to send know-your-customer (KYC) information to recipient platforms with every transaction. That’s the gist of a public comment letter filed this week by blockchain analysis firm Chainalysis, in response to a draft recommendation by the Financial Action Task Force (FATF), an intergovernmental organization dedicated to … Read more

Libertarian Think Tank Criticizes US SEC’s Approach to Crypto and Blockchain

John Berlau, a senior fellow at libertarian think tank Competitive Enterprise Institute, criticized the United States Securities and Exchange Commission’s (SEC) approach to regulating cryptocurrencies. Berlau delivered his comments in a report published on April 11. In a report called “Cryptocurrency and the SEC’s Limitless Power Grab: Why Speculative Consumer Goods Are Not ‘Securities,’” Berlau … Read more

Pennsylvania’s State-Backed VC Firm Is Tokenizing an Investment Fund

The venture capital arm of Pennsylvania’s economic development office is tokenizing one of its funds. Ben Franklin Technology Partners of Southeastern Pennsylvania, one of four regional outposts formed by the Pennsylvania Department of Community and Economic Development in 1982, launched the Global Opportunity Philadelphia Fund, or GO Philly Fund, in February with $15 million committed. Unlike Ben … Read more

New York Rejects Bittrex Exchange’s BitLicense Application

The New York Department of Financial Services rejected Seattle-based crypto exchange Bittrex’s application for a BitLicense Wednesday. In a letter published by NYDFS, the NY regulator explains that a number of factors contributed to the rejection, the first such action in two years. “Throughout Bittrex’s application process, the Department worked steadily with Bittrex to address … Read more

Michigan House of Representatives Votes to Include Cryptocurrencies in Criminal Laws

The Michigan House of Representatives has passed a bill, HB 4102, on April 9 that would include cryptocurrencies in criminal codes regarding illegal actions for financial gain. Michigan lawmakers have voted to introduce amendments to various sections of the Michigan Penal Code, specifying that cryptocurrency would be included in provisions relating to money laundering, embezzlement, … Read more

Ethereum Cofounder Says Blockchain Presents ‘Governance Crisis’

Charles Hoskinson believes blockchains are ushering in a new era for both business and government administration, one defined by a peculiarly unprecedented quality: leaderless-ness. The cofounder of the Ethereum and Cardano blockchains, two of the world’s most popular cryptocurrency networks, dropped by Fortune’s Balancing The Ledger studio to voice his concerns about his peers venturing … Read more