Crypto fund ag announces new cryptocurrencybitcoin news
Securities and Exchange Commission SEC has issued an order against a firm in Florida after it launched its own cryptocurrency, which had raised questions.
The orderwhich was released 7 June, shows that the U. Requesting additional written submissions, the SEC has ordered that petitioners submit a brief by 23 June with the Division of Enforcement expected to submit a response by 7 July.
According to a press releasedibcoin was developed by DIB Funding, which is an equity holding firm and is the parent company of Sunshine Capital. Built on top of the Omni Layer protocol, which is built as a layer over bitcoin, dibcoin is open source with Bitcoin 2. Back in March, the SEC made the decision to rejectwhat would have been, the first-ever bitcoin exchange traded-fund ETF that had been proposed by Cameron and Tyler Winklevoss more than four years previously.
We began this journey almost four years ago, and are determined to crypto fund ag announces new cryptocurrencybitcoin news it through. We agree with the SEC that regulation and oversight are important to the health of any marketplace and the safety of all investors.
The rejection of the bitcoin ETF was based on the fact that regulation and safeguards needed to be put into place. At the moment bitcoin is an unregulated market, which could be stunting its potential growth. According to a public notice by the SEC on its decision, it said:.
First, the exchange must have surveillance-sharing agreements with significant markets for trading the underlying crypto fund ag announces new cryptocurrencybitcoin news or derivatives on that commodity. And second, those crypto fund ag announces new cryptocurrencybitcoin news must be regulated. Since the 10 March decision, the SEC has since said that it would review its rejection after the Bats Exchange, which is where the bitcoin ETF would have traded, petitioned for a review.
At the time of publishing and in the month of June, no there remains no bitcoin ETF. With work in progress to get a bitcoin ETF into existence, developments are being made in other countries which could beat the Winklevoss twins to it.
One such country is Switzerland, which is known for its bitcoin-friendly stance and embracive attitude toward the digital currency. So much so, that Crypto Fund AG has announced that it is creating a Cryptocurrency Fund, which will invest in well-established currencies such as bitcoin, ether and ripple, to name a few. Investing in the biggest digital currencies by market cap value and liquidity, this allows for a high level of diversification, which reduces the volatility of the fund and in turn ensures high growth rate of new currencies.
The Fund will be highly diversified and will not list on an exchange and exclusively target qualified investors. According to a public notice by the SEC on its decision, it said:
Bitcoin To Rupiah. It is useful to take into account these issues when you decide to hunt for higher rates. The one caveat to this is you will need to enter your cell phone number.