We have consistently heard from the Securities and Exchange Commission (SEC) that a prerequisite for a Bitcoin Exchange-Traded Fund (ETF) is that the ETF must have “good custody”. SEC Chairman Jay Clayton’s actual remark in an interview with CNBC in November of last year was: We care that assets underlying that ETF have good custody…
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Over the past two years, the SEC has been presented with over a dozen applications for a Bitcoin Exchange-traded Fund (ETF), but it has chosen in each instance to dismiss the bid, since they felt “uncomfortable”. Many of the issues cited are being dealt with today by industry participants and interested institutional players. Two new…
Read moreThe US Securities and Exchange Commission (SEC) has voted in favor of expanding its pilot program on the modernization of allowing investors to share their opinions regarding potential offerings at a much earlier stage than the current one. According to the provisions of the new rule and its amendments, the "test-the-waters" accommodation currently used by emerging growth…
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Crypto press headlines typically focus on the dark side of exchange compromises and the billions in dollars of losses that must be absorbed by the firms and their customers. There is, however, a more sinister threat lurking in the shadows that is seldom discussed, but which could prevent the massive adoption that crypto zealots hope…
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Bitcoin values have been plummeting, some 77% down from its high a year ago, but enthusiasts have always held out hope that institutional investors would save the day. Many of these hopes have been held captive by the SEC, which has already turned down in 2018 over a dozen applications to form a Bitcoin Exchange-Traded…
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EDGAR system data may have been used for “illicit gain through trading” SEC Chairman Jay Clayton has issued a statement highlighting the importance of cybersecurity to the agency and market participants, and detailing the agency’s approach to cybersecurity as an organization and as a regulatory body. The statement is part of an ongoing assessment of…
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Jay Clayton was sworn into office by U.S. Supreme Court Justice Anthony M. Kennedy as the 32nd Chairman of the Securities and Exchange Commission It is a tremendous honor to lead the SEC and to be sworn in by Justice Kennedy, whom I greatly admire," said Chairman Clayton. "The work of the SEC is fundamental…
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