Tag: Approve

Regulators Approve Startup’s Bitcoin Sidechain Trial for Exchanges

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Japanese blockchain development company Crypto Garage announced it had gained regulatory permission to trial its settlement system using Blockstream’s Liquid Sidechain, Cointelegraph Japan reported Jan. 21. Crypto Garage, which claimed to be the first such blockchain finance project to get the green light under the Japanese government’s regulatory sandbox scheme, will now conduct a one-year pilot with a group of participating cryptocurrency exchanges. The product, dubbed Settlenet, uses Liquid as part of an arrangement allowing exchanges to issue yen-pegged stablecoins and trade against Liquid Bitcoin (L-BTC), Blockstream’s sidechain. The feature…

CoinShares CSO: SEC Unlikely To Approve Bitcoin ETF, Crypto Concerns Remain

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Although the regulatory status of Bitcoin exchange-traded funds (ETF) remains up in the air, talk on this subject matter has picked up heading into 2019. On one hand, there are an array of optimists claiming that 2019 will be the year of cryptocurrency-backed ETFs. On the other hand, there are cynics who believe it is too earlier for the crypto market to handle such an investment vehicle. Interestingly, a number of guests onto technology entrepreneur Ran NeuNer’s recent installment of CNBC Africa’s “Crypto Trader” claimed that they don’t expect for…

Japan May Approve A Bitcoin ETF, Says Bloomberg Source

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Japanese Regulators May Approve Crypto ETFs The approval of a bonafide Bitcoin exchange-traded fund (ETF) in the U.S. — one of the crypto industry’s most important markets worldwide — has long been a quixotic dream for optimists in the cryptosphere. The U.S. Securities and Exchange Commission (SEC) has long been against approving such a financial vehicle, as the entity believes cryptocurrencies are too nascent (lack of sufficient volume, manipulation concerns, limited surveillance) to support such an offering. Case in point, time and time again, the body has either delayed rulings on…

New York Financial Regulators Approve Blockchain Payments System

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The Department of Financial Services of New York (NYDFS) has authorized a blockchain-based digital platform offered by a local bank, an official NYDFS press release states Dec. 4. NYDFS superintendent Maria T. Vullo announced today that the department authorized New York-based Signature Bank to offer its digital payment platform Signet in the state. The approved system reportedly uses blockchain technology to allow the bank  clients to “transfer ‘Signets’ to make payments with no transaction fees, at any time of the day, year-round.” The system purportedly allows funds “to be transferred…

SEC Chairman Jay Clayton Reveals Why The Regulator Will Not Approve A Bitcoin ETF

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Jay Clayton, the Chairman of the US Securities and Exchange Commission (SEC), mentioned at a conference in New York that it’s unlikely for regulators to approve a Bitcoin Exchange Traded Fund (ETF) anytime soon. According to UK Business Insider’s Article published on November 28, 2018, Clayton believes that the current security measures around cryptocurrency asset custody are not adequate, as exchanges are still prone to hacks and manipulation. Bitcoin ETF Unlikely To Be Approved By U.S. Regulators Anytime Soon Business Insider reported that the cryptocurrency industry needs to address certain…

US regulators could approve Bakkt BTC futures launch in the first week of November

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Bakkt may be approved by officials before launch US regulators may approve the release of the Bakkt platform that is supported by Bitcoin The ICE which is the Intercontinental Exchange for the Bakkt cryptocurrency platform has the chance of getting approved by to launch the Physically-delivered Bitcoin(BTC) futures product. According to Cointelegraph, this is coming from an unconfirmed anonymous source that told tech outlet The Block Thursday on the 25th of October. The Bakkt team is focused on creating a regulated ecosystem for institutional investors who are looking to gain exposure to the world of cryptocurrencies.…

US Regulators Could Approve Bakkt BTC Futures Launch in First Week of November

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The Intercontinental Exchange’s (ICE) Bakkt cryptocurrency platform could get approval to launch its physically-delivered Bitcoin (BTC) futures product from U.S. regulators next week, an unconfirmed anonymous source told tech outlet The Block Thursday, Oct. 25. Bakkt, which seeks to create a “regulated ecosystem” for institutional investors looking to gain exposure to cryptocurrency, had previously confirmed it planned to launch its futures product Dec. 12. Should regulators give the project the green light, ICE’s Bakkt will begin launching its Bitcoin (USD) Daily Futures Contract for clients as soon as the first…

Regulators Approve Coinbase to Offer Custody Services in New York State

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Coinbase has secured approval from New York state regulators to act “as a limited purpose trust company” in the state, a press release reveals. According to the release, the New York Department of Financial Services (DFS) has officially signed off on an application for the Coinbase Custody Trust Company, a subsidiary of Coinbase Global, Inc. With the approval, Coinbase is now authorized to provide custody services in the state of New York for bitcoin, ethereum, bitcoin cash, litecoin, ethereum classic and XRP, the last of which is the only cryptocurrency…

New York State Regulators Approve New Power Rate Structure for Crypto Miners

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New York state regulators have approved a new electricity rate scheme for cryptocurrency miners that will allow them to negotiate contracts, Bloomberg reported July 12. According to Bloomberg, several months ago the state of New York gave permission to 36 municipal power authorities to charge crypto miners more than other consumers. The Massena municipal utility will introduce a new rate structure for crypto miners who are interested in conducting operations there. The utility will consider contracts on a case-by-case basis, which will protect other utility customers from increased rates. New…

Thailand’s SEC Expects to Approve 5 ICOs This Month

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Thailand’s securities regulator is reportedly expecting to approve five initial coin offerings (ICOs) later this month. According to the Bangkok Post on Wednesday, the Thailand Securities and Exchange Commission (SEC) has said that, while 50 ICOs in the country are currently applying for regulatory approval, five of them are already in a position to move ahead. However, the token sales will have to wait until later in June, when a royal decree on cryptocurrency, finalized last month, formally comes into law. While it remains unclear why these ICO projects are likely…