1 year ago
Despite United States Representatives Mike Flood, Wiley Nickel, Tom Emmer and Ritchie Torres calling connected the Securities and Exchange Commission (SEC) to immediately o.k. the listing of spot Bitcoin (BTC) exchange-traded funds (ETFs), the bureau erstwhile again delayed its decision.
When it comes to spot Ether (ETH) ETFs from VanEck and ARK 21Shares, the SEC delayed making decisions until Dec. 25 and Jan. 10, respectively, portion GlobalX volition person to hold until Nov. 21 for the commission’s decision. It besides delayed deciding connected the spot Bitcoin ETF applications of Invesco, Bitwise and Valkyrie until mid-January.
The latest delays came 2 weeks earlier than the scheduled 2nd deadline day for galore applicants, who had been expecting to perceive from the securities regulator by Oct. 16–19. The timing of the delays whitethorn person been related to the narrowly avoided U.S. authorities shutdown, which would person disrupted the country’s fiscal regulators and different national agencies.
Bitwise Asset Management reacted to the hold of its spot Bitcoin ETF with an amended application, responding to the SEC’s objections to the product. In its amended application, Bitwise engaged with what the SEC called “the ‘mixed’ oregon ‘inconclusive’ world record” connected the lead-lag narration betwixt BTC futures and spot markets.
Another Chinese tribunal recognized Bitcoin arsenic property
The Shanghai No.2 Intermediate People’s Court successful China has recognized Bitcoin arsenic a unsocial and non-replicable integer plus portion acknowledging its scarcity and inherent value. According to the court’s report, integer currencies specified arsenic Bitcoin basal retired arsenic unsocial and non-replicable net exertion products. The study states that among a oversea of integer currencies, Bitcoin is antithetic and unsocial from different integer assets. It has cardinal currency features specified arsenic scalability, easiness of circulation, retention and payment.
Taiwan bans unregistered overseas crypto exchanges
Taiwan’s Financial Supervisory Commission (FSC) formulated the captious points for regulating Taiwan’s cryptocurrency market, releasing manufacture guidelines for virtual plus work providers (VASP) operating successful the country. In the guidelines, the authorization mentioned modular industry-wide rules similar separating speech treasury assets from lawsuit assets and reviewing mechanisms for listing and delisting virtual assets.
The FSC besides required overseas VASPs to refrain from providing their services successful Taiwan without obtaining indispensable approvals from the regulator: Overseas virtual plus level operators are not allowed to supply concern wrong the territory of the state [...] unless they person been registered successful accordance with the law.”
Hong Kong volition database “suspicious” crypto platforms
The Securities and Futures Commission (SFC) of Hong Kong volition people a database of each licensed, deemed licensed, closing down, and application-pending virtual plus trading platforms (VATPs) to amended assistance members of the nationalist place perchance unregulated VATPs doing concern successful Hong Kong. The SFC said it volition besides support a dedicated database of “suspicious VATPs,” featured successful an easy accessible and salient portion of the regulators’ website.
The caller rules travel instantly aft the ongoing JPEX crypto speech scandal, an matter that section media outlets picture arsenic 1 of the worst cases of fiscal fraud ever to deed the region. JPEX stands accused of promoting its services to Hong Kong residents contempt not having applied for a licence successful the country.
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