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Here Is How The Bitcoin (BTC) ETF Saga at the SEC Is Just Getting Started

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For most of us, learning that there are several filings of Bitcoin ETFs at the SEC was exciting news. This meant that there is indeed a chance that Bitcoin would be considered a worthy investment option through an ETF (Exchange Traded Fund). The most popular filing at the SEC is the highly anticipated CBOE sponsored ETF by VanEck.

Many crypto-enthusiasts are hoping that a decision will be reached by the SEC this August. Others believe that it will be postponed by another 45 days or even a year. But the recent rejection by the SEC of the Bats ETF sponsored by the Winklevoss twins shook the crypto markets for a while for many traders thought it was the CBOE ETF. What then happened is that one of the SEC commissioners publicly dissented from the verdict to reject the ETF. This was a bold move that earned her the Twitter nickname of ‘Crypto Mom’.

Commissioner, Hester M. Peirce, also known as ‘Crypto Mom’, stated that:

“I am concerned that the Commission’s approach undermines investor protection by precluding greater institutionalization of the Bitcoin market. More institutional participation would ameliorate many of the Commission’s concerns with the Bitcoin market that underlie its disapproval order. More generally, the Commission’s interpretation and application of the statutory standard sends a strong signal that innovation is unwelcome in our markets, a signal that may have effects far beyond the fate of Bitcoin ETPs.”

This is a clear indication that cryptocurrencies and blockchain are winning some support from regulatory authorities in the US. Also to note is that we will have 2 new commissioners at the SEC by the end of this year. This means there is a big chance of a total change in opinion with regards to any Bitcoin ETF that will be pending in their files by then. The CBOE sponsored VanEck ETF, now has a possibility of being passed for it is also being backed by a solid exchange: the CBOE.

The VanEck firm also publicly protested the rejection of the Winklevoss ETF. VanEck detailed response included a 13-page script complete with detailed graphs and charts. In the protest, the VanEck firm stated that:

“We believe that our proposed ETF will operate consistent with the rules and requirements of the 1940 Act. Further, by offering investors exposure to bitcoin through a regulated investment product, we believe the proposed ETF will be consistent with the Commission’s mission to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.”

In a nutshell, the current happenings due to the filings of Bitcoin ETFs at the SEC are a tip of the iceberg of what we will see during the second half of 2018. The next few weeks and months will be an exciting time as proponents for crypto investment instruments battle it out with SEC for recognition. Hopefully, there will be a Bitcoin Bull run to spice things up even more.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Is Bex500 an alternative to BitMEX?

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An all around review of Bex500

Bex500 is a young but rapid-growing exchange, less adversarial than BitMEX, but with higher leverage than Binance, Bex500 has enough strings to attract many crypto traders. 

Those dissatisfied with the old exchange, may find Bex500 exchange with a stable system with no manipulation or “overload”, pleasant UX, user-friendly tool kits, and around-clock customer service.

Bex500 says they are making crypto margin trading “easier” and giving you a better return. 

Can they really achieve that? We conduct a comprehensive review as below to see if it is a trustworthy exchange

Question 1. What features does Bex500 have?

Bex500 offers perpetual BTC futures as well as three other cryptos including ETH, XRP and LTC, all paired against USDT. You may find Bex500 doing a good job aggregating most important features traders need for a robust trading experience with better return.

-A fair trade with no overload

Many traders are familiar with “overload” problem, which disables placing orders in peak trading times. It is suspected to be insider manipulations by exchanges which can cost users entire portfolios.

Bex500, with its unmatched TPS (claimed to be over 10,000 orders per second), ensures that the trading…

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How Bitcoin Has Changed Online Gaming

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We always hear how Bitcoin is great for the financial industry, how it can remove the middleman and help you save money while you spend money. How it can provide fast transactions at any time to any place, even when you wish to send money to someone on the other side of the world.

While all of that is true, it is important to remember that Bitcoin’s impact does not end there. The coin has already changed countless other industries, but one of the first ones that have accepted it with open arms — and therefore one that was changed the most — is the online gaming industry.

Bitcoin’s impact on online gaming

The first thing to note here is that digital currencies have found their use in online gaming thanks to microtransactions. However, it goes far beyond simply purchasing an in-game item from another player. Bitcoin’s biggest impact, without a doubt, concerns online gambling, sports betting, and similar activities.

Bitcoin brings security and anonymity

Bitcoin casino has become one of the new most popular places for an online gambler to visit, and for numerous reasons. Bitcoin brought increased security — to the financial industry, as well as online games. This is important because security is crucial for anyone who enjoys online gambling. It…

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The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry

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Blockchain has caused quite a stir in recent years. In fact, there’s a school of thought that firmly believes the digital ledger technology will prove to be the 21st Century’s biggest innovation

There are a great many industries braced for the disruptive force of blockchain, and the sweeping benefits it can bring to telecommunications can’t be underestimated. 

A blockchain is a decentralised, distributed, public digital ledger that’s fundamentally used to record transactions online. Every transaction that takes place is recorded across an extensive array of computers in a way that ensures that any individual record within the chain can’t be tampered with or retroactively modified. 

Because of the virtually impregnable security associated with blockchain and the efficiency that comes with a fully decentralised ledger, there’s plenty of potential for the technology within the telco industry in particular – especially given the financial flexibility that comes with cryptocurrency transactions beyond borders. 

Let’s take a deeper look at the important role that both blockchain and its associated cryptocurrencies can play in modernising and securing the telco industry:

Unprecedented security

The arrival of blockchain is causing a stir at Deloitte. The professional services giant has contributed tens of thousands of words on blockchain within its ‘insights’ network, and there are…

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