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SEC Delays Bitcoin (BTC) ETF Decision

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Bitcoin ETF
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The new statement from the US SEC (Securities and Exchange Commission) claims that the decision whether or not to approve Bitcoin ETF will be delayed until September 21, 2018. The reviewing of the request will effectively put five other decisions on hold for now.

The SEC delays BTC ETF decision once more

Requests for Bitcoin ETF have flooded the US SEC in the last several months, and the Securities and Exchange Commission is under a lot of pressure to provide an answer. Instead of doing so, they released a new public document, claiming that the Commission finds it appropriate to postpone the decision, and review the requests once more. The new date of the decision appears to be September 21.

This is a move that a lot of people actually expected, and while many would love to see BTC ETF arrive sooner, rather than later, a lot of people still think that the SEC will not be comfortable with allowing it just yet. Some claims say that it is too early and that 2019 has much better odds of seeing the ETF approval.

Winklevoss twins ETF request denied

The recent speculation regarding the potential ETF approval has had large consequences, even if nothing actually happened. The speculation actually led to an increase in Bitcoin’s price, which hit $8,200 in only a few days. Soon after, however, the SEC decided to reject the ETF request submitted by the Winklevoss twins.

This has disappointed many, and Bitcoin suffered the most. Currently, its price is going down once again, and it is at $7,400. This is also the second time that Tyler and Cameron Winklevoss attempted to get the SEC to approve their Bitcoin ETF request and the second time that they were rejected.

Many have compared this situation to a decade and a half old controversy regarding the twins and Facebook. Back then, they accused Mark Zuckerberg of stealing their idea. On the other hand, many believe that the twins are extremely innovative when it comes to thinking up various concepts, but that they have a problem when it is time actually to execute them.

Because of this, one popular opinion claims that, even though their BTC ETF requests are continuously denied, someone else might submit a request that will actually get approved. There is still a decent chance for this to happen, and the crypto community is currently waiting for September 21st to see whether or not will we get the next Mark Zuckerberg.

ETF might bring BTC price to new heights

Another opinion regarding the current Bitcoin ETF issue came from Spencer Bogart, a partner at Blockchain Capital. Bogart has been a very vocal Bitcoin supporter recently, with a notable bullish tone that came as soon as Bitcoin went up a few weeks ago. He recently stated that there are many catalysts that might allow Bitcoin’s price to go further up and that BTC ETF is definitely one of the biggest ones.

Even though the Winklevoss request got denied, there are still others that the SEC might decide to approve. If that happens, the current drop in price will soon become the thing of the past, and BTC might skyrocket once more. Bogart also stated that the SEC’s time is running out and that they need to get on board if they want to stay relevant.

“The cat’s out of the bag,” he said, “[i]nnovation is going elsewhere if the SEC [U.S. Securities and Exchange Commission] doesn’t get on board soon.”

For now, the SEC decision has been postponed, which means that a few more weeks of waiting are to be endured. After that, pretty much anything can happen.

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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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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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