SEC Rejects Nine Applications for Bitcoin-ETF Opening
The U.S Securities and Exchange Commission (SEC) rejected the application to open two Bitcoin funds from ProShares company, as well as applications of Direxion (to open five Bitcoin funds) and GraniteShares (to open two Bitcoin funds). In all three official statements of the Commission (at the requests of ProShares, Direxion, GraniteShares) there are similar reasons for refusal — notes that company’s propositions failed to demonstrate compliance with the requirements of the Exchange Act Section 6(b)(5), particularly relating to the prevention of market manipulation.
WHY IS IT IMPORTANT?
- Bitcoin-ETF should make the cryptocurrency status more legal, and the process of trading it more transparent. Any news regarding bitcoin-ETF affects the course of bitcoin and other cryptocurrencies.
- Currently, the whole top-100 cryptocurrencies (except four which are showing insignificant growth) are trading in the red zone. Bitcoin dropped by %3,50 and trades for $6,455.
First Blockchain-based Bond Priced at $73 Million
The first public bond in the world that has been created and run using distributed ledger has been evaluated at $73.16 million (A$100 million) by the World Bank as they recognize its potential to revolutionize the industry. The Australian Commonwealth Bank, selected by the World Bank as the only issuer in early August, said that the transfer of the bond will be made on August 28.
WHY IS IT IMPORTANT?
- The deal will be implemented as a part of World Bank’s broader program to address the problems of poverty and global market stability, during which the bonds are sold for $50-60 billion a year.
- Blockchain technology has the potential to optimize the processes occurring between numerous intermediaries and agents of the debt capital market. It can help to simplify the attraction of capital and trade in securities, improve efficiency and strengthen regulatory oversight.
New Treat for Norway Mining Farm; Now to Be Closed
Just a week ago Norwegian mining company Kryptovault received a threat from local residents about a possible explosion attack on the enterprise due to unbearable noise. The mining center is now also threatened to be closed by the local administration. one of the objects of the mining company Kryptovault could be closed at the request of the authorities of the city of Hønefoss, as fans, which serve to cool 9,500 mining devices, produce too much noise and interfere with the local population.
WHY IS IT IMPORTANT?
- Local residents have repeatedly complained about the noise emitted by computers and fans 24 hours 365 days a year. The noise level is 60 decibels, and by law it can not exceed 45 decibels.
- However, only anonymous threats to explode the mining facility helped draw attention to the problem.
- Countries with cold climate usually draw attention of miners, as harsh climate reduces electrical expenses for cooling the equipment. However, during warm summer season cooling is still needed, and the vicinity of such facilities can be unbearable.
China to Block Foreign Crypto Exchanges
The Chinese authorities will block foreign crypto exchanges, which are used by residents of the country. An official order was published in Shanghai Securities Times. The report says that Chinese regulators found 124 platforms working with citizens of the country that use foreign IP-addresses.
WHY IS IT IMPORTANT?
- Despite the active development of blockchain, ICO’s and trading in cryptocurrencies are banned in China. Large exchanges are not available for those using local IP-addresses. Because of this, many sites moved their business to other countries.
- The blocking of foreign cryptocurrency exchange platforms will reduce Chinese citizens ability to invest in digital assets.
Japan Will Not Interfere In Crypto Industry
The Financial Services Agency (FSA) of Japan does not plan to impose bans on digital assets. The watchdog strengthens control over crypto exchanges, but does not impose strict requirements on the industry as a whole. Toshihide Endo, commissioner of FSA, said this in an interview.
WHY IS IT IMPORTANT?
- Japan became the first country in the world to establish rules for monitoring the cryptocurrency market. The financial regulator began a hard check of trading platforms after hackers stole more than $520 million from the Coincheck exchange in January.
- Earlier, the Japanese financial regulator also published the results of the verification of crypto exchanges. FSA is licensing local trading platforms in order to make them safer for investors.
At 19:00 (GMT+1) total cryptocurrency market capitalization stands at $210,2 billion
- Bitcoin (TICKER: BTC.EXANTE) $6481 (+0,16%)
- Ethereum (TICKER: ETH/USD.BITFINEX) $279 (+0,81%)
- XRP (TICKER: XRP.EXANTE) $0,32 (-1,53%)
- Bitcoin Cash (TICKER: BCH.EXANTE) $528 (+0,02%)
- EOS (EXANTE: EOS.EXANTE) $4,90 (+2,04%)
Litecoin (+2,47%) showed the best growth in the top-10
Bitcoin Diamond (+37,36%) showed the best growth in the top-100
Market Dynamics
The trading volume of cryptocurrencies for 24 hours reached $11,35 (-0,77 billion per day)
Mining Profitability
- BTC $2,5 for 10 TH/s
- ETH $0,20 for 10 MH/s
- BCH $0,24 for 1 TH/s
- LTC $3,1 for 1 GH/s
- DASH $0,09 for 1 GH/s
Ongoing ICOs:
Expected ICOs:
- 31 August BetOnChart
- 5 September Cryptocean
- 8 September AEN Token
- 15 September COTI
- 15 September GOODWORK