China suppresses exchanges in WeChat

Social media platform bans the official accounts of the OKex following the ICO ban
06 March 2018   704

Chinese government reportedly tightens its grip on all cryptocurrency activity in the country. Today WeChat according to a local news outlet Caixin blocked an official account of OKex exchange. Upon accessing any posted links, a notification plainly states:

The platform may have violated relevant laws and regulations after being reviewed per users' complaints. The account is currently blocked and content is not available.



OKCoin originally was a significant player in the cryptocurrency exchanges platform in China. It operated on crypto-to-crypto basis. Due to the ICO ban in China, the exchange moved overseas into OKex. Consequently, to sustain constant communication it used WeChat for information distribution. The messaging app developer company denies any involvement in the incident.

As of the present moment another major platform Huobi that is also located overseas remains active at WeChat. Huobi continues to be available in mainland China and to list new ICOs and in doing so taunts the Chinese established measures. Chinese regulators are allegedly looking for means to enhance the 'crypto-ostracism' by blocking the IP addresses of the overseas cryptocurrency exchanges.

SEC to Need More Info on BTC ETF

SEC is gathering more input from the public – to date, according to the agency, more than 1,400 comments have been submitted
21 September 2018   167

The US Securities and Exchange Commission (SEC) announced the beginning of a formal process for considering the application for the creation of bitcoin-ETF from the New York companies VanEck and SolidX. Nevertheless, the agency appealed to the community for more information. This is stated in the document published on the SEC website.

Institution of such proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change. Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.

The US Securities and Exchange Commission

At the moment, the SEC received about 1,400 comments.

According to the document, the Chicago Board Options Exchange (CBOE) has signed an agreement on the exchange of data on bitcoin transactions, trading and the state of the market with the cryptocurrency trading platform with Gemini.

The agency asked commentators to clarify the position of Gemini in the digital currency market and assess the likelihood of increased volatility at this site in connection with possible trades of bitcoin-ETF.

So, before September 30, the department had to decide on whether to approve, deny or initiate the proceedings. The SEC chose the latter, which is likely to delay the process until the next year.