SEC to Interest Crypto Hedge Funds Operations

American regulators continues its operations in the cryptocurrency field
15 March 2018   363

The SEC began to request the crypto-currency hedge funds for information on their operational activities, Bloomberg reports. The regulator is interested in the methodology for evaluating crypto assets, as well as their storage system.

As part of its check, the SEC recently sent a number of requests to crypto-focused hedge funds asking how they price digital investments and seeking information on their compliance with rules meant to prevent the theft of investors’ cash.

The SEC has taken a very deliberate approach in this space. I think they are just trying to get a handle on the large ecosystem.

Peter Van Valkenburgh

Director of research, Coin Center

The number of crypto-currency hedge funds exceeds 220. Of these, 187 have opened since the beginning of 2017. Since most of these companies manage assets of less than $ 150 million, they do not need to register with the SEC.

Barclays to Freeze Crypto Trading Project

This is reported by two anonymous sources to Financial News London
15 October 2018   100

One of the largest UK bank Barclays has suspended work on its own crypto-trading project, Financial News reports citing two sources familiar with the situation.

Earlier this year, the bank gathered a high profile team to explore opportunities for cryptocurrency trading as part of its own business. However, according to one source, the initiative was “frozen”.

The former head of Barclays for energy trading, Chris Tyrer, who headed the “digital assets project,” left the bank in September after management decided to freeze the initiative.

Together with Tyrer, the macro-strategy in the field of foreign exchange and emerging markets was Marvin Barth, Senior Technical Specialist Lee Brain, and Consultant Matthew Jobb Duval.

Their task was to determine whether cryptocurrencies are an asset class with far-reaching prospects, whether Barclays customers are interested in them and what type of IT infrastructure will be needed to work with them, the source said.