Tag: Approve

Fidelity lobbies SEC to approve Bitcoin ETF in private meeting

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Multinational financial services firm Fidelity Investments has pressed the U.S. Securities and Exchange Commission to approve its Bitcoin exchange-traded fund (EFT). A private meeting was held on Sept. 8 between Fidelity Digital Assets President Tom Jessop, six of the firm’s executives and several SEC officials. The finance executives laid out a number of reasons why the regulator should approve the investment product. These include increased demand for digital assets and related products, the prevalence of similar funds in other countries, and the rise of Bitcoin adoption. A Fidelity presentation from…

SEC likely to approve Bitcoin ETF in 1-2 years, says analyst

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According to an analyst at CFRA Research, VanEck, Fidelity Investments, and Valkyrie Digital Assets may not see their Bitcoin exchange-traded funds, or ETFs, approved by U.S. regulators for up to two years. In an interview on CNBC’s ETF Edge Monday, Todd Rosenbluth, head of ETF and mutual fund research at CFRA, told host Bob Pisani that he believed the U.S. Securities and Exchange Commission, or SEC, would extend the timeline for considering the Bitcoin ETF first pitched by investment management firm VanEck in January. The SEC officially acknowledged receipt of…

Crypto Bank Expands in India — Confident Government Will Approve Legitimate Use of Cryptocurrencies – Regulation Bitcoin News

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Crypto bank Unicas, a joint venture between Cashaa and United Multi State Credit Cooperative Society, has expanded its operations by opening another physical branch. The bank believes that the Indian government will introduce positive crypto regulation and not impose an outright ban on cryptocurrencies such as bitcoin. New Physical Crypto Bank Branch Opens in New Delhi Physical crypto bank Unicas has opened another branch, Cashaa announced last week. Unicas is a joint venture between crypto banking platform Cashaa and United Multistate Credit Cooperative Society. Noting that this will be the…

ErisX Exchange Asks CFTC to Approve Sports Bet Futures as ‘Risk Hedging’ Tools

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Cryptocurrency derivatives platform ErisX is making an unusual attempt to push through futures contracts tied to the outcome of National Football League (NFL) games. According to a report from Bloomberg on Tuesday, ErisX formally asked the Commodity Futures Trading Commission (CFTC) in mid-December to give the green light to its gambling-linked futures. Approval for three types of contracts on NFL games is being sought. One is based on the winner of a game, the second is based on the point difference scored by a particular team, while a third is…

China’s Regulators Approve of Acquisition of Acacia by Cisco

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The acquisition process began back in July 2019 when Cisco agreed to purchase the networking chips maker Acacia for about $2.6 billion.  Cisco Systems Inc (NASDAQ: CSCO) has received its final approval to acquire Acacia Communications Inc (NASDAQ: ACIA) from the China State Administration for Market Regulation. However, the approval comes with set conditions by the Chinese regulator that requires the companies to honor existing contracts with Chinese clients for the next five years. Besides, the regulator approved the deal on the condition that both companies should continue to provide…

China Unlikely to Approve Oracle and Walmart’s TikTok Deal – Blockchain and Bitcoin Implications

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China appears to be on edge regarding Oracle and Walmart’s deal with parent company ByteDance for TikTok’s US operations, calling it an “unfair” deal. China is outraged by US’ TikTok demands In addition, there appear to be divided beliefs regarding what the TikTok deal entailed. While President Trump had said that the Oracle deal for TikTok “will have nothing to do with China” and that “all of the control is Walmart and Oracle, two great American companies,” the remarks appeared to have struck a sensitive chord among Chinese regulators. The…

US Legislators Approve Digital Taxonomy and American COMPETE Blockchain Bills in Tech Race with China

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US lawmakers approved two bills, the American COMPETE Act and the Digital Taxonomy Act, raising the stakes in an active race against China for innovation in the blockchain and technological development sector. Lawmakers push for blockchain advancement The two bills proposed will then go on to the US House of Representatives for a vote. Through a webinar moderated by the Chamber of Digital Commerce, the American Competitiveness of a More Productive Emerging Tech Economy Act (American COMPETE act) was discussed. The legislative act advocated for research and development for the…

US legislators approve bills for study of blockchain in commerce

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The Committee on Energy and Commerce has just approved two pieces of legislation to spur more in-depth analysis of blockchain technology in government, clearing the way for their vote in the House of Representatives. In an online debate moderated by Chamber of Digital Commerce founder Perianne Boring on Sept. 9, Democratic Representative of Florida’s 9th District Darren Soto announced that after “nearly two years of pushing,” the Committee on Energy and Commerce had passed the Digital Taxonomy Act. In addition, the committee approved the American COMPETE Act. Both pieces of legislation…

China’s Cyberspace Regulators Approve 224 Blockchain Ventures

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China’s Office of the Central Cyberspace Affairs Commission (OCCAC) has announced its third round of blockchain projects to receive approval from the country’s regulators. 224 distributed ledger technology (DLT) ventures have been added to the commission’s registry, which includes major tech firms Alibaba, Baidu and China Mobile. The news appears to have been broken by Twitter user ‘AliceolaCrypto’, who posted a screenshot of the OCCAC’s announcement on April 27. She wrote that of the 224 approved projects, approximately 40% hail from Beijing. Roughly one-quarter of projects will target the fintech…

Retail Demand May Force the SEC to Approve a Bitcoin ETF

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Several investment firm executives have debated the likelihood of the U.S. Securities and Exchange Commission (SEC) licensing a U.S.-based Bitcoin (BTC) exchange-traded fund (ETF) during a CNBC broadcast on March 7. The discussion follows the SEC’s recent rejection of its last pending Bitcoin ETF application.  Wilshire Phoenix had first filed the application for its proposed ‘United States Bitcoin and Treasury Investment Trust’ with the SEC during January 2019.  Despite amending their application six times in 13 months, the SEC rejected Wilshire Phoenix’s ETF, citing concerns about manipulation of Bitcoin’s market,…