Tag: SEC

New Proposal Could Give SEC Expansive Power to Regulate Crypto, Defi Platforms – Regulation Bitcoin News

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A commissioner with the U.S. Securities and Exchange Commission (SEC) has voiced concerns regarding a new proposal that could give the securities regulator new powers to regulate cryptocurrency platforms and decentralized finance (defi) protocols. New SEC Proposal Could Hurt the Crypto Industry, Commissioner Peirce Cautions U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce has warned that a recent proposal could be devastating for the crypto industry, Bloomberg reported Tuesday. Peirce is a pro-bitcoin commissioner, who is also known in the crypto community as “crypto mom.” The SEC proposed amendments…

SEC Asks Bitwise to Address Concerns About Proposed Spot Bitcoin ETF

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The SEC has asked Bitwise to clarify how the investment firm will prevent share manipulation, fraud and other potential issues in its proposed spot bitcoin ETF, according to a notice to the company on Tuesday. The agency also flagged its concerns about the Bitwise Bitcoin ETP Trust’s liquidity and transparency and requested more color on the “suitability” of bitcoin as the underlying asset for the fund. The SEC’s request veered from its serial denials to date of other proposed spot Bitcoin ETPs. Over the past two months, the agency has…

Hester Peirce Warns Proposed SEC Reform of Securities Trading Platforms Could Threaten DeFi

U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce has warned that plans by the agency to reform government securities trading could threaten decentralized finance (DeFi). Affectionately referred to as “Crypto Mom” for her longstanding support for the industry, Peirce believes a new SEC 654-page plan designed to add oversight to trading government securities could also allow new powers to scrutinize DeFi platforms. The new rules proposed by the SEC are designed to force platforms not registered as exchanges that still deal in the trading of all types of securities…

SEC Approves BSTX to Operate as Blockchain-Based Securities Exchange

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The U.S.    Securities and Exchange Commission (SEC  Securities and Exchange Commission (SEC) The Securities and Exchange Commission (SEC) is one of the most widely known independent authorities in the United States. The SEC has a wide range of responsibilities, helping police markets and curbing against abuse. This includes enforcing federal securities laws, proposing securities rules, and regulating the US’ stock and options exchanges.As one of the paramount regulatory authorities in the US, the SEC is responsible for the oversight of public companies in the aforementioned segments.What Does the SEC…

SEC approves BSTX for blockchain settlements on traditional markets

The Boston Security Token Exchange (BSTX), a new facility of the Boston-based BOX exchange, received regulatory approval from the United States Securities and Exchange Commission (SEC) to operate as a blockchain-based securities exchange.  BSTX was launched jointly by BOX and Overstock’s blockchain arm tZERO, originally seeking approval for launching publicly-traded registered security tokens. However, the SEC approval to operate as a national securities exchange allows BSTX to use blockchain technology for faster settlements in traditional markets. According to the SEC, “The Commission notes that the [BSTX] Exchange’s current proposal does…

BSTX Receives SEC Approval For Blockchain-Powered Securities Exchange

BSTX, a joint venture between tZero and Boston Options Exchange (BOX) Digital Markets, has received the green light from the U.S. Securities and Exchange Commission (SEC) to operate a blockchain based securities exchange. BSTX is aiming for immediate or accelerated settlement (T+0 or T+1) thanks to the transactions taking place on the blockchain. It will also provide market data recorded on the blockchain in a process similar to an Oracle. This will be done via a blockchain run by BSTX. The exchange will be open to both retail and institutional…

Fidelity Seeks SEC Approval for Metaverse ETF

Fidelity Investments has filed an application for a Metaverse ETF, aiming to track public companies with exposure to the blockchain-based network of three-dimensional, virtual realities. The Fidelity Metaverse ETF will track the Fidelity Metaverse Index, which tracks “the performance of a global universe of companies that develop, manufacture, distribute, or sell products or services related to establishing and enabling the Metaverse,” according to the filing Fidelity’s application is the latest among companies looking to address skyrocketing interest in the metaverse. Last December, ProShares filed a metaverse ETF application with the…

SEC Rejects Fidelity’s Wise Origin Bitcoin ETF Proposal

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The U.S. Securities and Exchange Commission (SEC) refused to approve a Fidelity spot bitcoin exchange-traded fund (ETF), adding to the list of rejected applications. Rejection of Fidelity’s Wise Origin Bitcoin Trust on Thursday comes just seven days after the SEC threw out a spot bitcoin ETF application filed by investment advisory firm First Trust and hedge fund SkyBridge Capital. The rejection follows the precedent set by the SEC in preferring ETFs that track bitcoin futures. In December, the regulator rejected investment firm Kryptoin’s proposal to list a spot bitcoin ETF.…

SEC rejects application for Fidelity’s Wise Origin Bitcoin Trust spot ETF

The United States Securities and Exchange Commission has disapproved asset manager Fidelity’s Wise Origin Bitcoin Trust spot exchange-traded fund (ETF) application. According to a Thursday filing, the SEC rejected a proposed rule change from the Cboe BZX Exchange to list and trade shares of Fidelity’s Wise Origin Bitcoin (BTC) Trust. The regulatory body said any rule change in favor of approving the ETF would not be aimed at preventing “fraudulent and manipulative acts and practices” nor would it necessarily “protect investors and the public interest.” The SEC extended its deliberation…

SEC reportedly probing crypto lending products by Gemini and Celsius

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The United States Securities and Exchange Commission is reportedly reviewing some of the high-yield crypto lending products offered by Gemini, Celsius Network and Voyager Digital. According to a report published on Bloomberg, the SEC is conducting an inquiry into digital asset lending services. The main focus of the inquiry is reportedly around whether the crypto lending services could be considered securities and, therefore, must be registered with the commission.  Gemini and Celsius did not immediately respond to Cointelegraph’s request for comment. The SEC’s main concern reportedly lies with the high-yield offering…