SEC to Extend the BTC-ETF Decision Period to September 30

The price of VanEck SolidX Bitcoin Trust shares was set at $ 200,000, which means that the new ETF will be primarily targeted at institutional investors
08 August 2018   1056

The US Securities and Exchange Commission (SEC) has extended the decision-making period for the application for the launch of Bitcoin-ETF, filed jointly by New York companies VanEck and SolidX. This is stated in a document published on Tuesday, August 7, on the Commission's website.

Initially, it was assumed that the meeting of the Commission, at which officials will decide on changes in the rules of trade at the Chicago Stock Exchange (CBOE), where the fund should be traded, will be held on August 10. However, this date has now been postponed to September 30.

The application VanEck and SolidX was filed on June 6. If approved, VanEck SolidX Bitcoin Trust will be immune from theft and loss of access to funds. It will also be tied to a new index from Van Eck, which instead of exchanges will collect the price of bitcoin from US-based over-the-counter (OTC) platforms.

The price of VanEck SolidX Bitcoin Trust shares was set at $ 200,000, which means that the new ETF will be primarily targeted at institutional investors.

Earlier, a source in the SEC, who wished to remain anonymous, made it clear that the agency was interested in approving this application.

Mt. Gox CEO to be Found Guilty of Falsifying Docs

Mark Karpeles has a suspended term of four years ahead to prove his reliability and to avoid a real imprisonment
15 March 2019   120

The Tokyo District Court convicted the former CEO of the Mt.Gox bitcoin exchange, Mark Karpeles, of falsifying documents and sentenced him to two years and six months in prison. Nevertheless, Karpeles has a suspended term of four years ahead to prove his reliability and to avoid a real imprisonment. Reported by The Block.

Note that the prosecutor's office demanded 10 years in prison, however, on charges of embezzlement and violation of corporate law, Karpeles was found not guilty.

Karpeles and his lawyers intend to assess the situation and develop a strategy for action on the charges.

Earlier, the Illinois court rejected the petition of the lawyers of the former head of Mt.Gox to suspend the proceedings against him in the United States. So, American investors Gregory Green and Anthony Motto demand that Carpeles be personally responsible for the loss of their investments.

Once the largest Bitcoin exchange Mt. Gox crashed in early 2014. This happened after the information appeared about its alleged hacking and theft of 800,000 BTC ($ 480 million at that time). In December last year, Carpeles, during his closing speech at a Tokyo court, called himself innocent of the events that caused the millions of client losses and the company's collapse.