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Showing posts with label Bitcoin Exchange. Show all posts
Showing posts with label Bitcoin Exchange. Show all posts

Cryptocurrency Exchanges, take a Note of This: New Cryptocurrency Exchange to be Put Up


“To stay in power and to lead a pack, taking risk is an ability that few have.”

Well so to say, Cryptocurrency Exchanges have to be prepared for recent developments and what system the U.S. Securities and Exchange Commission has put across. The most important aspect which one was missing out all this while was that the responsibility of a creator does not end with the creation of an exchange on a Blockchain, instead, it goes on to be on the rising end.

And this is what even Rober Cohen, Chief of Cyber Unit of SEC thinks.

Cryptocurrency so far had been on a racing streak sprouting in all corners of the economy, however, in order to keep track of advances in this particular field came in U. S. SEC’s Cyber Unit. According to the latest developments, SEC shall make a note of minute details so as to keep Cryptocurrency Exchanges in the track.
SEC’s focus turned toward Cryptocurrency Exchange solely based on the fact that there is an ‘Exchange’ involved in talks and this can turn tables for all parties involved. Therefore, it was necessary for something or someone to take charge of changing the environment.
Another fact to be taken note of is, decentralization or smart contract were never in question, it was only these sets of ‘decentralized exchanges’ that had to be looked at. Reasons being, exchanges, for the most part, ran on ‘self-executing codes’. Responsibility of these codes also included contacting individuals directly!

Cryptocurrency Exchanges: Would they ever be Accepted?

The question that an individual faces here is whether any one out there is going to accept these Cryptocurrency exchanges or not? Some of the exchanges have worked their way up while there were also others who could not make a mark for themselves.

Scams are another factor that takes away trust from a platform.

If you have ever noticed then some of these Cryptocurrency Exchanges have been launched with an ‘ox platform’. While on the other hand there are also other exchanges which have seen the light of the day as they were being solely made on Blockchain.
And if views of experts are to be taken in to consideration then we may make a point very clear: it is next to impossible at the moment to shut down Exchanges that have formed their basis on Blockchain!
In simple words Blockchain based Cryptocurrency Exchanges have found themselves to be built on a platform that does not seem to have an end to it. With loads of decentralized servers apart from domain providers and a lot of similar other stuff, exchanges are heading towards a whole new wave of development.
A development, that many see as an answer to an easier way out; whilst some experts are of the belief that if monitored on regular basis then Blockchain based Cryptocurrency Exchanges shall leave a mark for itself. To let this thought turn in to a reality, it shall certainly take some more time because streamlining aspects is an important part of development as far as these exchanges are concerned.
And with U. S. Securities and Exchange Commission right around the corner, exchanges under Cryptocurrency tag have to abide by the rules. Do they?
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Bitcoin Exchange Traded Fund had been considered by the United States Securities and Exchange Commission but it looks like there would be further delay in making final announcement for it. Here, we are speaking about Bitcoin ETF or the Exchange Traded Fund from VanEck.


Cryptocurrency Market Instabilities

As some of you may be aware of the situations that have hit the cryptocurrency world in recent days, it was indeed a decision to be made by the concerned authorities. In addition to this, 2018 is almost to an end due to which decision on VanEck’s ETF has been deferred to the 27th of February 2019.

Also Read: 

Upgrades in Cryptocurrency Market must be done before Approval of Bitcoin ETF


In a statement released on 6 December 2018 by U. S. SEC, it clearly mentioned reasons for the delay, one of them being that anything which relates itself to cryptocurrency has to be thoroughly checked for any loop holes. It is only when all facts fall in to place shall the authorities approve or may even disapprove the ETF put across by VanEck.


Another surprising factor we may look at is: $BTC ETF has been in pending list for quite some time as Securities and Exchange Commission from the United States had rejected ETF by VanEck (Investment Firm) apart from SolidX (Blockchain Company) a few times in 2018 as well.

Will Bitcoin Exchange Traded Fund get US SEC’s Nod?

As per the Director of Digital Asset Strategy of VanEck, there does not seem to be any reason for U. S. Securities and Exchange Commission to delay the decision of ETF further.

Gabor Gurbacs, Director of Digital Asset Strategy, VanEck further went on to add that the team is confident of having approval of US SEC this time.

Stringent rules have taken the positions resulting in numerous Bitcoin ETF Applications being rejected by the United States SEC on the grounds of preventions. These preventions mainly connect to fraud as well as market manipulation (seen greatly now a days).

The Future

In case every detail goes as planned then US SEC shall ensure of having Bitcoin Exchange Traded Fund by VanEck and SolidX on CBOE or the Chicago Board Options Exchange. When we consider Securities and Exchange Act, then SEC has got about 240 days in which the authority can understand any ETF Application in detail before making a final call.


Keeping this Act in mind, US SEC has got time till the 27 February 2019 to make a decision on whether to allow BTC ETF coming in to action or not.

It may also be recalled that there were 9 Bitcoin ETF Applications in total that SEC rejected in the month of August. Most of them were in rejected state as they did not comply with the rules laid down by the authorities.

Also Read: 

What Jay Clayton has to say about Cryptos, Bitcoins and ETF?


There are other firms such as Gemini who believe to get through the ETF applications this time round. Nevertheless, time apart from the features of an ETF would decide the fate of a BTC Exchange Traded Fund to be listed or not. Until then it is better that we follow rules and stay in good books of the authorities.