SEC Ready to Reconsider Bitcoin-ETF Decision
The Securities and Exchange Commission (SEC) can reconsider its refusal to launch nine bitcoin-ETFs said the SEC Commissioner, Hester Peirce.
She explained that the Chairman and Commissioners delegate certain tasks to their staff. In this case, those who make independent decisions act on behalf of the Commission. However, SEC can still reconsider the decisions of subordinates, which will happen in the case of nine bitcoin-ETFs. A possible revision is also mentioned in the letter of Secretary SEC Brent Fields to the The New York Stock Exchange (NYSE) and Cboe Global Markets. Fields refers to the procedural rules by which the decision will remain in force until the Commission decides otherwise.
WHY IS IT IMPORTANT?
- A new financial instrument should make the process of trading cryptocurrency more transparent. Until now, the watchdog has refused all submitted applications. At the same time sources in the SEC have stated several times that the regulator is close to approving a bitcoin-ETF and can make a positive decision by the end of the year.
- Meanwhile, any news about these funds affects the rate of сryptocurrency. Against the background chatter of the last SEC failure, the cost of bitcoin (Bitcoin: BITCOIN) has dropped to $6,400.
Britain Goes Deeper into Blockchain
The UK government is creating a more favorable environment for blockchain startups in the country. Also, the UK Ministry of Justice wants to use the distributed ledger technology to improve the performance of its judicial system. The Department for International Trade announced that the Entrepreneur First (EF) investment company will now finance blockchain startups, including foreign ones. This company enjoys the official support of the Government of the country. While Britain’s Ministry of Justice plans to use blockchain to create a digital information repository. The platform based on distributed ledger technology will be used to store evidence of violations.
WHY IS IT IMPORTANT?
- The investment company is especially interested in startups that aim at solving complex technical problems. If the project is developed in the field of blockchain and has also received funding from one of the trusted venture companies, then it will be allowed to work in the country without any problem.
- Creating an enabling environment for blockchain companies promotes the development of innovative technology in the country.
Crypto Combat in China: Joint Forces Warn Against Crypto and ICO
China launched a new wave of fighting against ICO and cryptocurrencies. Сhinese authorities spread a joint warning on the "illegal fundraising" of cryptocurrency funds under the schemes that involve the use of cryptocurrency and blockchain. The letter, published on the website of the People’s Bank of China- the state’s central bank, includes the concern of four other regulators such as the Ministry of Public Security, the Banking Regulatory Commission, the General Administration of Market Supervision, and the Central Network Information Office. During the joint work the bodies managed to eliminate the "lawless elements" who were claiming to issue cryptocurrency through ICOs.
WHY IS IT IMPORTANT?
- Although last year China passed a ban on collecting cryptocurrency funds through the ICO, companies continued to promote the initial coin offering along with new financing methods, such as initial fork offering, initial exchange offering and initial miner offering.
- Last week, the Chinese Communist Party issued a blockchain manual for government employees. The appearance of the document, entitled "Blockchain – A Guide for Officials," shows that the authorities do not treat this technology with hostility.
Mt.Gox Former Clients Allowed to Return Funds
The former customers of the bankrupt crypto exchange MtGox after four years of litigation received an opportunity to send applications for the return of funds held in company wallets. Users can do this by mail or using a special tool that has been created on the MtGox website.
Application process is available to individual customers. Users from all over the world can freely participate in civil rehabilitation by confirming applications related to the exchange in accordance with the Civil Rehabilitation Act of Japan and other laws and regulations. Corporate users will be given this opportunity later.
WHY IS IT IMPORTANT?
- Some crypto experts attribute the recession of bitcoin to the bankruptcy of the exchange. In any case, one of the first major falls bitcoin has gone through was due to MtGox.
- On February 24, the exchange announced its closure, provoking a drop in the price of bitcoin by $57. After that, the cost of bitcoin was about $550.
Indiegogo Crowdfunding Will Launch Investment Tokens
An international crowdfunding platform Indiegogo will release investment tokens secured by the real estate. Users will have an opportunity to buy hotel Regis Resort Aspen’s shares. The Aspen Coin, equivalent to one share, can be purchased for dollars, bitcoins or ethereum. The broker Templum Markts LLC will provide access to the coins.
WHY IS IT IMPORTANT?
- Crypto projects have a large audience, which will give the company managing the hotel greater profits and customers.
- Investment tokens are less prone to the speculation and are always tied to real assets. Such a tool is convenient for startups as it avoids the requirement for registration of securities. Indiegogo's statement refers to the cooperation with the Financial Services Industry Regulation Service (FINRA) and that its activities comply with all the regulators' requirements.
At 20:00 (GMT+1) total cryptocurrency market capitalization stands at $214,60 billion
Bitcoin (TICKER: BTC.EXANTE) $6621 (+2,48%)
Ethereum (TICKER: ETH/USD.BITFINEX) $281 (+1,88%)
XRP (TICKER: XRP.EXANTE) $0,32 (+1,63%)
Bitcoin Cash (TICKER: BCH.EXANTE) $532 (+1,78%)
EOS (EXANTE: EOS.EXANTE) $5,00 (+2,85%)
Stellar (+3,86%) showed the best growth in the top-10
Qash (+33,52%) showed the best growth in the top-100
Market Dynamics
The trading volume of cryptocurrencies for 24 hours reached $11,46 (+0,11 billion per day)
Mining Profitability
BTC $2,47 for 10 TH/s
ETH $0,21 for 10 MH/s
BCH $0,26 for 1 TH/s
LTC $3,36 for 1 GH/s
DASH $0,08 for 1 GH/s
Ongoing ICOs:
Expected ICOs:
- 31 August BetOnChart
- 5 September Cryptocean
- 8 September AEN Token
- 15 September COTI
- 15 September GOODWORK
Click here for the full list of ongoing ICOs.
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