U.S. Department of the Treasure Calls for Global Crypto Regulation

The U.S. Treasury's Office of Terrorism and Financial Intelligence called on the international community for cryptocurrency regulations in order to protect the financial system  
14 February 2018   872

According to the U.S. Department of the Treasure’ statement, Sigal Mandelker, the Under Secretary, told the Securities Industry and Financial Markets Association Anti-Money Laundering and Financial Crimes Conference that terrorists and others use cryptocurrencies to "exploit the financial system”.

Sigal Mandelker stated that there is a lack of international regulation of cryptocurrencies.

The lack of AML/CFT regulation of virtual currency providers worldwide greatly exacerbates virtual currencies' illicit financing risks. Currently, we are one of the only major countries in the world, along with Japan and Australia, that regulate these activities for AML/CFT purposes. But we need many more countries to follow suit and have made this a priority in our international outreach.

Sigal Mandelker

Under Secretary of Treasury’s Office of Terrorism and Financial Intelligence

She went on telling about cybercriminals, computer hacking and ransomware, fraud, identity theft, tax refund schemes, public corruption and drug trafficking.

Sigal Mandelker encouraged regulators to "supercharge" their efforts to prevent financial crime and protect national security. She believes that companies must take measures in order to prevent money laundering.

SEC to Start VanEck-SolidX BTC-ETF Consideration

Starting today, the 45-day countdown to the SEC initial decision was launched
20 February 2019   87

For the first time since August of last year, two proposals on the creation of a Bitcoin-ETF are under consideration by the US Securities and Exchange Commission (SEC).

The application of VanEck and SolidX, issued in cooperation with the Cboe BZX exchange, as expected, was included in the Federal Register issue this Wednesday, with which the 45-day countdown to the SEC initial decision was launched. The application of Bitwise Asset Management and NYSE Arca was published last week.

I … hope that our investment in regulatory and market education, hard work and commitment will be honored when the time comes.
 

Gabor Gurbacs

Director of digital asset strategy, VanEck

The head of Bitwise’s research department, Matt Hogan, believes that not only firms that have submitted bids to create Bitcoin-ETFs are looking for approvals, but and the entire “extremely fast-growing” crypto industry.

A year ago there was maybe one qualified crypto custodian … and now there are half-a-dozen, and that number will go up from here. A little more than year ago, we didn’t have futures. A year ago we didn’t have nearly as many firms making markets. A few months ago, you didn’t have folks like Fidelity announced in the space. It’s evolving really, really quickly.
 

Matt Hougan

Global head of research, Bitwise

 As reported, ultimately, however, a bitcoin ETF approval will depend on how companies approach their proposals.