The SEC Isn’t In a Hurry to Approve a Bitcoin ETF But Crypto Isn’t Worried

The approval of a Bitcoin ETF seemed imminent when Gary Gensler became the Securities and Exchange Commission (SEC) chief. In anticipation, several Bitcoin ETF applications were submitted to the agency. Going by Gensler’s recent statements, however, those applications will have to gather dust before his agency takes a look at them. The SEC Commissioner cautioned… Read More The SEC Isn’t In a Hurry to Approve a Bitcoin ETF But Crypto Isn’t Worried

Blockchain Startup Enigma Settles with SEC for Security Token Sale

Chalk one more up for initial coin offering (ICO) regulation. Enigma MPC, a blockchain startup, settled with the SEC for conducting an unregistered sale of securities. The San Francisco-based startup conducted an offering of its ENG tokens in 2017 and raised $45 million from investors. As part of the settlement, Enigma will refund “harmed investors”… Read More Blockchain Startup Enigma Settles with SEC for Security Token Sale

Can SEC Commissioner Hester Peirce’s Proposal Revive the ICO Market?

In the annals of crypto history, initial coin offerings (ICOs) were the latest innovation until they weren’t. After briefly eclipsing traditional forms of venture financing, ICOs have largely been relegated to the sidelines of the fundraising ecosystem after an SEC crackdown. A glance at the moribund market for coin offerings during the first quarter of… Read More Can SEC Commissioner Hester Peirce’s Proposal Revive the ICO Market?

SEC Chair Jay Clayton Says Crypto Markets Lack Price Discovery Rigor of Public Markets

The last time he spoke about cryptocurrencies to the press, SEC Chairman Jay Clayton held out hope for a Bitcoin ETF, indicating that “progress is being made” in cleaning up crypto markets. Yesterday, at the Delivering Alpha conference organized by CNBC, Clayton reverted back to his old hostile stance towards cryptocurrencies. “If they (investors) think… Read More SEC Chair Jay Clayton Says Crypto Markets Lack Price Discovery Rigor of Public Markets

VanEck Withdraws Bitcoin ETF Application After Launching Fund for Institutional Investors

Investment firm VanEck, which had applied for a Bitcoin ETF earlier this year along with SolidX, withdrew its application on Sep. 13th, according to a filing posted on the SEC website this evening. The federal agency was due to issue a final decision on their application by October 18th. Today’s application withdrawal leaves just two… Read More VanEck Withdraws Bitcoin ETF Application After Launching Fund for Institutional Investors

SEC Moves To Freezes Funds From Veritaseum’s 2017 ICO

The SEC has made an emergency filing to prevent the promoters of an ICO from spending the money they collected during the offering. The federal agency announced yesterday that it had obtained a court order that freezes the assets of Veritaseum, which conducted an ICO in 2017 for its VERI tokens, and Reggie Middleton, acting… Read More SEC Moves To Freezes Funds From Veritaseum’s 2017 ICO

SEC Issues Second No-Action Letter This Year To Pocketful of Quarters

The SEC has issued its second non-action letter for ICO tokens to gaming startup Pocketful of Quarters (PoQ). The venture, started by eleven-year-old sixth grader George B. Weiksner, intends to use utility tokens called Quarters. The tokens are based on the ERC-20 protocol, the most popular smart contract protocol for developing tokens on Ethereum. They… Read More SEC Issues Second No-Action Letter This Year To Pocketful of Quarters

Bitcoin Is Not A Security: SEC Chairman Jay Clayton

Even as his agency cracks down on token offerings, SEC Chairman Jay Clayton is letting bitcoin off the hook. Clayton, who has been vocal about regulating tokens as securities, told CNBC in an interview that cryptocurrencies do not qualify as securities under current SEC provisions. “Cryptocurrencies…are replacements for sovereign currencies, (they) replace yen, US dollar,… Read More Bitcoin Is Not A Security: SEC Chairman Jay Clayton

The Case For Ethereum As A Security Token

During a Congressional hearing last month, SEC Chairman Jay Clayton said all ICO tokens he had seen were securities. That remark, with all its attendant implications, has spooked investors and snowballed into a series of actions that might end up radically reshaping cryptocurrency markets. Since Clayton’s remark, the SEC has tightened the screws on coin… Read More The Case For Ethereum As A Security Token