SEC Chair Clayton: Bitcoin Needs ‘Better Regulation’ Before Major Exchange Listing
Better regulation is needed around bitcoin markets before they can be traded on major exchanges, the head of the U.S. Securities and Exchange Commission said on Thursday.
Speaking at CNBC’s Delivering Alpha conference, SEC Chairman Jay Clayton said investors are “sorely mistaken” if they think bitcoin and other cryptocurrencies undergo the same price discovery practices as products on top exchanges like the Nasdaq or New York Stock Exchange.
“We have to get to a place, in my view — just speaking for myself — we have to get to a place that we can be confident that trading is better regulated.”
Clayton said price reports do not indicate thorough price discovery, as he claims major exchanges perform for other financial products. Investor protections built into major exchanges, he continued, are needed in crypto markets before they can be added.
Clayton’s crypto message follows remarks made earlier this month concerning a bitcoin exchange-traded fund (ETF). Clayton claimed there is “work left to be done,” although “progress is being made.”
The financial regulator is nearing deadlines for approving or rejecting bitcoin ETFs from Wilshire Pheonix and Bitwise Asset Management.
A third bitcoin ETF applications, Cboe BZX Exchange VanEck/SolidX bitcoin ETC, was withdrawn earlier this week as an October 18 deadline loomed and approval seemed unlikely.
This is a reprinted article
Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte Star athletes are having differing views over California’s SB-206 ruling. | Source: Shutterstock, Getty; Edited by CCN The California legislature has passed an earth-shattering bill that promises to change the entire landscape of collegiate athletics. SB-206 would allow students to make endorsement deals and earn money for their efforts on the field. Many believe this is the wrong way to go, among them one of the great college football players of his era, Tim Tebow..@TimTebow passionately expresses his thoughts on the California Senate passing a bill allowing student-athletes to have endorsements. pic.twitter.com/W5uBW7ePNm — First Take (@FirstTake) September 13, 2019 Tim Tebow Passionately Advocates Against Paying College AthletesTebow has a point. College sports is about the school and not the individual. The prospect of making the SEC virtually a minor league for the NFL has some troubling implications and might risk the very things that make it so popular.California Bill Changes Nothing For Most StudentsThe portion of his evangelical rant that does clang is when Tim Tebow suggests that it is…Sep 14, 2019
On Monday, CoinDesk reported the shopping app Lolli was offering bitcoin rewards to U.S.-based Alibaba shoppers for Singles Day.Alibaba Group representatives have since denied the “partnership” touted by Lolli CEO Alex Adelman. The fissure revealed a common misconception in the blockchain industry.“One of Alibaba.com’s contractors hired a subcontractor who brokered an affiliate marketing program with Lolli. This was done without the knowledge of Alibaba.com,” an Alibaba spokesperson told CoinDesk. “Alibaba.com’s contractor is terminating the relationship with the subcontractor who was working with Lolli. As a result, Lolli should no longer promote or bring traffic to Alibaba.com.”He added that Lolli “never had the right to claim a partnership with Alibaba.com or imply one with Alibaba Group.”In response, Adelman said, “There has to be an integration for us to send sales to someone’s site.”However inflated the promotion of this Singles Day campaign may have been, Adelman’s team wasn’t completely off-base. Contractual agreements seen by CoinDesk appeared to permit the usage of “Alibaba related keywords” in online materials. The startup had already been processing bitcoin rewards for AliExpress shoppers since May 2019.According to…Nov 16, 2019
Google (GOOG) stock is trading approximately 7.45% up since Monday. Google’s G Suite experienced a surge of over 1 million paying businesses to hit 6 million customers in March.Google (NASDAQ: GOOG) stock is up over 7% since the market bell rang on Monday. The stock at the time of writing was trading at $1.187 having risen from $1.086 on Monday morning. However, on Tuesday the stock dropped 1.63%, after hitting the highs at $1.220. On the weekly chart, like many other stock markets, it is still trading below the level at which the calendar flipped. Now GOOG is up 0.11% in the pre-market.The American multinational technology company that specializes in Internet-related services and products has evolved to sustain itself during the coronavirus pandemic. Despite the adverse effect on its office operation and the stock market, the company has been in the front line to fight the novel coronavirus.Recently, Google introduced new COVID-19 and telehealth GMB links to be used by healthcare workers. Besides, the company launched the community mobility report, which tracks movement trends over time across the country, in…Apr 8, 2020
Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte Trezor One was launched on 29 July 2014 and was the first ever cryptocurrency hardware wallet. This wallet brought an unprecedented level of security to the burgeoning cryptocurrency field. As such, it paved the way for subsequent upgrades in this field.The Trezor One retails for 69 EUR (US$78). To buy one, click here. You can also check out my video unboxing and guide below.Key Features Clear screen – The Trezor One features a clear monochrome screen. Trezor uniquely allows you to customise your home screen.Integrated exchange support– The device has integrated exchange support so users can trade seamlessly.Proven security– Trezor One, being one of the original wallets has a track record of security. Trezor Cryptocurrency Hardware Wallet Unboxing / Guide Security FeaturesThe security features of the Trezor Model One begin in its packaging. The device is inside a completely sealed box together with a hologram sticker. Be sure to only buy your device from the official website. If your box seems to have been tampered with, DO NOT use it…Mar 5, 2020
Bakkt, the Bitcoin Futures Exchange and digital assets platform from Intercontinental Exchange (ICE), the creator of the New York Stock Exchange (NYSE) is a month- old now. Today, as it turned 1-month old, the platform achieved a new all-time high (ATH) of 360 BTC on its Bitcoin Monthly Futures Contracts. The number as it expected to increase before the close of the day. Bakkt Hits a New ATH with 360 BTCBakkt celebrated its first monthiversary by achieving a new ATH of 363 BTC on its Bitcoin Monthly Futures. This number may grow further before the close of the day. According to a Twitter handle, Bakkt Volume Bot, the forecast for today’s volume is 1139 BTC.Source: TwitterThe news coincides with BTC price plummeting to $7.5K. However, the fact that the numbers on Bakkt have improved spell a ray of hope for the future of the platform which had been branded as a flop show by the crypto community owing to its dismal performance at launch.What are Bakkt Bitcoin Futures? In the case of Bakkt’s bitcoin futures, the futures contracts are physically settled. Bakkt…Oct 24, 2019
Investor, early crypto adopter, and CEO of Gemini exchange, Tyler Winklevoss, predicted that competition between stablecoins will really begin once Wall Street moves into decentralized finance, or DeFi, during a recent interview with The Defiant’s Camila Russo.However, despite his optimistic outlook for DeFi, the Gemini co-founder asserted that the crypto industry currently does not offer a killer app that is driving adoption from outside of the virtual currency community.Inter-stablecoin competition hasn’t even beganIn an interview with The Defiant, Tyler Winklevoss predicted that the real race between stablecoins will not take form until Wall Street takes an interest in DeFi:“When Wall Street wants to start investing in decentralized finance, they’ll need a currency. When a decentralized [Real Estate Investment Trust] pays off a dividend or a stock, is it going to pay it to investors in Ether? Probably not because of the volatility, but in a stablecoin.”However, Tyler offered a damning appraisal of many existing stablecoin projects, stating:“A lot of these stablecoins, they just put their own cash deposits to goose up the assets under management to give this perception that…May 24, 2020
Ethereum has made a mark as a platform on which developers build decentralized applications (dApps). This has made ether among the best known cryptocurrencies in the coin market. Nevertheless, like Bitcoin, the Etherum protocol is transparent, making it easy for anyone with a copy of the ETH blockchain to view all the transactions any other person has made on the network. All the benefits derivable from decentralization which enables the users take charge of their financial transaction on BTC and ETH networks have this privacy setback. In essence, every other person with enough interest or motivation could track your transaction and with some persistence even know the identity of the owner of the wallet.Considering that these are the digital assets with the highest demand due to their innate qualities as instruments of transfer and storage of value, it is necessary to ameliorate this disadvantage. This is even more so considering that privacy coins such as Monero and Dash have come under direct scrutiny from regulators. Mixing Services To The Rescue Bitcoin and Ethereum tumbling services are increasingly becoming an integral…Jan 20, 2020
The Nets were 4-7 before Kyrie Irving was injured.They’re 9-4 since, back in playoff position.There are at least five reasons why Brooklyn has been better without Irving.The Brooklyn Nets knew exactly what they were sacrificing by signing Kevin Durant and Kyrie Irving last summer.Could they successfully blend an existing team-first ethos with that franchise-changing star power? That was certainly the hope, and it’s too early to say it won’t prove the case when Durant makes his long-awaited Brooklyn debut in 2020-21.But what’s also abundantly clear is that the Nets have been far better this season since Irving was sidelined by a shoulder injury in mid-November. Here’s why.5. Years of PrecedentBrooklyn was 4-7 when Irving went down on Nov. 14, and has gone 9-4 since. A relatively weak schedule over the last month has played a part in the Nets’ turnaround, but recent precedent suggests we should have seen their success without Irving coming anyway.The 2017-18 Boston Celtics famously pushed LeBron James and the Cleveland Cavaliers to seven games in the Eastern Conference Finals while an injured Irving watched from the…Dec 13, 2019
Recently, it was reported that Bitcoin mining now consumes as much as a quarter percent of the entire world’s electricity supply, putting it on par or higher than many small nations.However, the actual emissions and impact on climate change, according to a new study, aren’t as negative as once believed.Bitcoin Mining Emissions Aren’t As Bad As Once BelievedBitcoin’s blockchain network is secured and validated through a process called proof-of-work, where “miners” utilize powerful computer processing to solve complex mathematical equations.Related Reading | Bitcoin Mining Now Consumes A Quarter Percent Of Global ElectricitySpecially designed computers consume large amounts of electricity in order to solve these mathematical equations. Miners are rewarded for their time, effort, and expensive in electricity with a set amount of Bitcoin – currently at 12.5 BTC.Mining difficulty rises as time goes by, requiring more and more energy supply. Meanwhile, the reward miners receive for their efforts and money invested decreases at each scheduled halving – a pre-coded event where the block reward miners receive is cut in half.Because over time, both BTC earned is reduced but energy requirements…Nov 20, 2019
The total crypto market cap added $23.6 billion for the last seven days and now stands at $166.9 billion. The top 10 currencies were all in green for the same time frame with and Bitcoin SV (BSV) and Bitcoin Cash (BCH) being the best performing assets with 31.5 and 16 percent of gains respectively. By the time of writing Bitcoin (BTC) is trading at $5,917 while Ether (ETH) climbed to $125. Ripple’s XRP is hovering around $0.151.BTC/USDBitcoin formed a fresh green candle to $5,337 on Sunday, March 15 and added $180 to its value closing the seven-day period with 33.2 percent loss.The BTC/USD pair started trading on Monday by once again breaking below the long-term uptrend line we drew last week. The coin dropped as low as $4,441 during intraday, but bulls managed to minimize the losses and ended the session at $5,020.On Tuesday, March 17, we saw the exact same candle being formed on daily, but in the opposite direction. The most popular cryptocurrency moved up to $5,336, but not before peaking at $5,557 in the early hours of…Mar 23, 2020