#CryptoCorner: #SEC to Review #ETF Rejection Decisions and Singapore’s Central Bank Partners with SGX and Others for #Blockchain Asset Settlement
#CryptoCorner: #SEC to Review #ETF Rejection Decisions and Singapore’s
Central Bank Partners with SGX and Others for #Blockchain Asset Settlement
August 24th #CryptoCorner and Podcast sponsored by Crypto
payment tech, #Flip @FlipToPay ($NXTD)
and #AI, #IoT, #Blockchain, #Crypto Technology Company Gopher Protocol (OTCQB: $GOPH) and Genesis
Exchange and Wallet App
Point Roberts, WA, Delta BC - August 24, 2018 - Investorideas.com, a
leader in crypto and blockchain investing news reports on what’s driving the
cryptocurrency markets with today’s edition of Crypto Corner, now available in
podcast.
Listen to today’s Crypto Corner Podcast:
Read this in full at http://www.investorideas.com/news/2018/crypto-corner/08242SEC-ETF-Singapore-Blockchain.asp
Subscribe to Podcast RSS feed:
SEC to Review ETF Rejection Decisions and Singapore’s Central Bank
Partners with SGX and Others for Blockchain Asset Settlement
Going into the weekend the crypto market’s total
market capitalization is sitting at $210 billion USD at press time according to
data from CoinMarketCap, so not much change from yesterday. Bitcoin (BTC) is trading at $6533
USD and holds some 53 percent market dominance. Most of the major altcoins
listed have shown very little movement in the past 24 hours.
Reuters reports that the decision to block nine
exchange-traded funds by the U.S. Securities and Exchange Commission (SEC) will
be reviewed. The decision to reject nine applications from three companies–two
from ProShares and five from Direxion for listing on the NYSE Arca, and two
from GraniteShares on the CBOE–was made by staff delegated by SEC
commissioners. However, SEC commissioner Hester Peirce said in a tweet that she and her colleagues reserve the right to
review decisions made by staff, as in this case.
“…the Commission (Chairman and Commissioners)
delegates some tasks to its staff. When
the staff acts in such cases, it acts on behalf of the Commission. The Commission may review the staff's action,
as will now happen here.”
In a much longer statement published on the SEC’s official website from July
26, Peirce articulated her own position on Bitcoin exchange-traded products
(ETPs) following the rejection of the Winklevoss brothers’.
“By precluding
approval of cryptocurrency-based ETPs for the foreseeable future, the
Commission is engaging in merit regulation. Bitcoin is a new phenomenon, and
its long-term viability is uncertain. It may succeed; it may fail. The
Commission, however, is not well positioned to assess the likelihood of either
outcome, for bitcoin or any other asset. Many investors have expressed an
interest in gaining exposure to bitcoin, and a subset of these investors would
prefer to gain exposure without owning bitcoin directly. An ETP based on
bitcoin would offer investors indirect exposure to bitcoin through a product
that trades on a regulated securities market and in a manner that eliminates
some of the frictions and worries of buying and holding bitcoin directly. If we
were to approve the ETP at issue here, investors could choose whether to buy it
or avoid it. The Commission’s action today deprives investors of this choice. I
reject the role of gatekeeper of innovation—a role very different from (and,
indeed, inconsistent with) our mission of protecting investors, fostering
capital formation, and facilitating fair, orderly, and efficient markets.
Accordingly, I dissent.”
A press release today announced the collaboration of the Monetary
Authority of Singapore (MAS) and Singapore Exchange (SGX), along with Deloitte,
Anquan and Nasdaq, to deliver enhancements to ease digital asset settlements.
The entities have convened specifically to develop Delivery versus Payment
(DvP) capabilities for settlement of tokenized assets across different
blockchain platforms, in which Deloitte, Anquan and Nasdaq will act as
technology partners. The move enables financial institutions and investors to
“carry out simultaneous exchange and final settlement of tokenized digital currencies and securities assets”. Tinku
Gupta, Head of Technology at SGX, and Project Chair, said:
“This initiative will deploy blockchain technology
to efficiently link up funds transfer and securities transfer, eliminating both
buyers’ and sellers’ risk in the DvP process. This is a collaborative
innovation bringing together multiple players to pursue real-world
opportunities that will benefit the ecosystem.”
Sam Mowers, Investorideas
Crypto Corner Sponsors:
Flip™ is the creation of Fit Pay, Inc., a leading provider of
cutting edge payment technology and a subsidiary of NXT-ID (NASDAQ: NXTD).
By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders
to seamlessly exchange their cryptocurrency for US dollars and store that value
on a contactless payment device that can be used to make purchases at millions
of retail locations. https://www.fliptopay.com/
Gopher Protocol Inc. (OTCQB: GOPH)
is a development-stage company which consider itself a Native IoT
creator, developing Internet of Things (IoT) and Artificial Intelligence
enabled mobile technology. Gopher’s exclusive licensor filed a non-provisional
patent covering a proprietary GRC Blockchain-Based Radio Generated Digital Currency
on June 19, 2018 . Additionally Gopher’s Avant! AI technology
has been designed to supervise the Blockchain System to keep records of all
data exchanges. The AI system will be embedded as an integral part of Gopher’s
digital coin Blockchain system.
GBT is a powerful cryptocurrency
centralized / decentralized exchange which will include a broad range of
services and benefits from cryptocurrency and blockchain markets development,
while avoiding complications and risks arising from crytocurrency ownership,
transfer, and exchange.
The powerful GBTDesk aggregator ensuring exchange of
cryptocurrencies for fiat currencies under smart contracts without
intermediaries is a key element of GBT.
Download
the Genesis Exchange and Wallet App at Google Play
More info on the sector:
Investor Ideas is positioning as a leader in blockchain and crypto content with
its Bitcoin and Blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com
For investors following the sector
Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency
Stocks Directory
Talk about the sector with other
companies and investors- Join our LinkedIn Group Blockchain and Digital
Currency Stocks and ICO's - Latest News and Commentary https://www.linkedin.com/groups/13560073
About Investorideas.com - News that Inspires
Big Investing Ideas
Investorideas.com is a recognized news source
publishing third party news and press releases plus we create original financial
content. Learn about investing in stocks and
sector trends from
Investorideas.com with our news alerts , articles , podcasts and videos talking about cannabis, crypto,
technology including AI and IoT ,
mining ,sports biotech, water, renewable energy and more . Investorideas.com
original branded content includes the daily Crypto Corner and Podcast, Play by Play sports and stock news column, Investor Ideas #Potcasts #Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change Podcast and the Stock Guru daily podcast on Support and
Resistance Trading.
The Investorideas.com podcasts are also available on iTunes, Spotify, Tunein, Stitcher, Spreaker.com,
iHeartRadio and Google Play Music.
Disclaimer/Disclosure: Investorideas.com is a digital
publisher of third party sourced news, articles and equity research as well as
creates original content, including video, interviews and articles. Original
content created by investorideas is protected by copyright laws other than
syndication rights. Our site does not make recommendations for purchases or
sale of stocks, services or products. Nothing on our sites should be construed
as an offer or solicitation to buy or sell products or securities. All
investment involves risk and possible loss of investment. This site is
currently compensated for news publication and distribution, social media and
marketing, content creation and more. Contact each company directly regarding
content and press release questions. Disclosure is posted for each compensated
news release, content published /created if required but otherwise the news was
not compensated for and was published for the sole interest of our readers and
followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp. Disclosure: this newsletter
and podcast is sponsored content by
featured companies NXt-ID (NASDAQ: NXTD) on behalf of Flip and Gopher Protocol Inc. (OTCQB: GOPH) and its
blockchain and crypto technologies and
GBT Technologies . More info: http://www.investorideas.com/About/News/Clientspecifics.asp
Cryptocurrency Disclaimer
Investorideas.com news content is not
meant to be a solicitation to buy or sell cryptocurrencies and
Investorideas.com does not directly sell cryptocurrencies; but acts as a news
and research resource for interested investors following the blockchain sector.
Copyright and ownership: Crypto
Corner is an Investorideas.com content brand
Learn more about our news, PR and social media
services at Investorideas.com
Contact Investorideas.com
800-665-0411
Comments
Post a Comment