Chinese Police to Seize $1.4M Worth BTC

Cryptocurrency was seized from illegal bookmaker offices, which are banned since the middle of 20th centuary
12 July 2018   504

Police in Guangdong Province arrested 540 suspects in the participation and organization of a network of online football sweepstakes, at which rates were accepted in bitcoins for a total of more than 10 billion yuan ($ 1.5 billion). This is reported by Xinhuanet.

Organizers of gambling sites were participants of 20 criminal groups. The police froze their assets by five million yuan and seized the crypto currency by 10 million yuan ($ 1.4 million).

Law enforcement agencies also closed about 70 mobile applications, websites, 250 groups in social networks and instant messengers through which suspects conducted their activities. For eight months, about 330,000 participants bets on these platforms.

Since the middle of the XX-th century activity of bookmaker offices is illegal in China. However, in Macau and Hong Kong, sports bets are not banned.

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   188

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.