The Chairman of the Federal Reserve, Jerome Powell, brought Bitcoin (BTC) to the spotlight during his testimony to the Senate Banking Committee on Thursday. In his first day of testimony, Powell touched on the current state of the U.S. economy, covering everything from the ramifications of not raising the debt ceiling to his current status […]
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Fed Chairman Swears ‘Very High’ Scrutiny Against Facebook’s Crypto Libra
Federal Reserve Chairman Jerome Powell said his agency – as well as the rest of the federal government – will be looking carefully at Facebook’s Libra cryptocurrency. The Unspoken Advantage of Large Companies Entering Crypto He promised that Facebook would be held to very “high” standards, implying that the social media giant should be able […]
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SEC Chairman Confirms Cryptocurrencies Like Ethereum Are Not Securities
On March 12, the cryptocurrency and blockchain legislative advocacy group Coincenter published correspondence between the Securities and Exchange Commission (SEC) chairman Jay Clayton and representative Ted Budd. The letter explains that Clayton and the SEC’s staff analysis confirms that Ethereum and similar cryptocurrencies are not subject to securities laws.
Also read: Cointext Adds the Ability to Pay Bitpay Invoices Using SMS
Fed Chairman Has No Plans to Meet Donald Trump
Jerome Powell, Chairman of the Federal Reserve, has said that he would not resign even if President Donald Trump asked. In the past few months, president Trump has repeatedly criticized Powell and the Federal Reserve for continuing with their tightened monetary policy. He went as far as saying in a Fox Business interview that the
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Amid Crackdown, SEC Chairman Emphasizes Compliance Requirements for ICOs
Jay Clayton, the chairman of the U.S. Securities and Exchange Commission (SEC), recently discussed the current regulatory climate surrounding initial coin offerings (ICOs). Clayton emphasized that all ICOs must register with the SEC to ensure compliance with U.S. law.
Also Read: Estonia to Tighten Rules for Licensed Crypto Companies
Requirements for Regulatory Compliance
The SEC chairman reiterated that the SEC does not see bitcoin as a security. However, it does view the tokens that are offered in many ICOs as securities. “If you’re going to offer and sell securities, you have to do that in compliance with our laws,” Clayton said.
No Bitcoin ETF Before Important Changes to BTC Markets: SEC Chairman
SEC Chairman Jay Clayton has claimed that bitcoin exchanges lack sufficient transparency and monitoring for the market to see approved Bitcoin Exchange Traded Funds (ETFs). According to CNBC, at the Consensus Invest Conference in New York City recently, Clayton said: What investors expect is that trading in the commodity that underlies that ETF makes sense
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Does VanEck Bitcoin ETF Address the Concerns of SEC Chairman on Manipulation?
Earlier this week, US Securities and Exchange Commission (SEC) Chairman Jay Clayton said at a conference in New York that to approve a Bitcoin exchange-traded fund (ETF), the SEC needs to see a market that is free of manipulation. Clayton stated: “What investors expect is that the trading in that commodity that’s underlying the ETF is
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SEC Chairman Not Yet Comfortable With Cryptocurrency ETFs
Securities and Exchange Commission (SEC) Chairman Jay Clayton revealed today that the commission is not yet comfortable with the idea of a Bitcoin (BTC) or other cryptocurrency ETF due to the current lack of market surveillance. “What investors expect is that trading in the commodity that underlies that ETF makes sense and is free from the risk […]
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WaterChain Chairman: Cryptocurrencies Will Create An Entirely New Economy
Riggs Eckelberry is the CEO of OriginClear, a company which provides water treatment solutions, and Chairman of WaterChain, a token project which works to crowdsource water funding in an effort to alleviate suffering as a result of the ongoing global water crisis, which isn’t scheduled to get any better as populations increase. In a recent
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Distributed Ledger Tech (DLT) can Automate Regulation: CFTC Chairman
As FinTech continues to reimagine new business models for finance, a high-profile financial regulator believes it can also be used to enforce derivative laws more effectively. J. Christopher Giancarlo, the chairman of the US Commodity Futures Trading Commission (CFTC), highlighted distributed ledger technology (DLT) and how it can automate regulations for derivative markets while speaking at the D.C.
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Taiwan is Preparing ICO Regulations, Securities Regulator Chairman Reveals
Investing in Initial Coin Offerings (ICOs) in Taiwan could soon be as easy as putting money in stocks. This is according to the chairman of Taiwan’s Financial Supervisory Commission (FSC), Wellington Koo, who has said that regulations for governing ICOs are currently being drafted with a view of simplifying the process for investors as well
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Bitcoin Futures Helped Cryptocurrency Market Achieve ‘More Sustainable Level’: CFTC Chairman
When derivatives exchanges CBOE and CME launched the first regulated U.S. bitcoin futures contracts, many cryptocurrency bulls thought that this event would lead to a wave of institutional investment and propel the market toward even greater highs. Just days later, the yearlong bitcoin price rally stalled, and the flagship cryptocurrency — followed soon after by
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CFTC Chairman Believes Bitcoin Is ‘Here To Stay’
Although crypto regulation has been discussed widely for years now, it is still of the biggest issues in the industry to date and has multiple unsolved problems.
There isn’t a final decision on how these types of assets should be managed and controlled due to members of such influential governmental bodies such as the SEC (Securities and Exchange Commission) and the CFTC (Commodities Futures Trading Commission) haven’t been able to reach a single opinion on the matter.
Continue reading CFTC Chairman Believes Bitcoin Is ‘Here To Stay’ at Crypto Daily™.
Cryptocurrency is ‘Here to Stay’: CFTC Chairman Giancarlo
Bitcoin may never replace the greenback, but the flagship cryptocurrency could achieve significant adoption in the two-thirds of countries without stable currencies. That statement might sound like a thesis put forward by an early bitcoin adopter, or perhaps a forward-thinking hedge fund manager. In actuality, though, that bullish forecast was issued by J. Christopher Giancarlo,
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What SEC Chairman Jay Clayton’s New Statement Means for Ethereum
A new statement issued by Securities and Exchange Commission (SEC) Chairman Jay Clayton has some within the cryptocurrency community questioning whether the agency could change its tune on ether — the native currency of Ethereum — which a top official previously said should not be regulated as a security. SEC Chair: Staff Guidance Non-Binding Clayton,
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John McAfee Sicced His Followers on the SEC Chairman and the Emails Are Predictably Amusing
Last June, John McAfee rallied his neophytes to email and call the chairman of the Securities and Exchange Commission, Jay Clayton, regarding a proposed CNN debate over initial coin offerings. It didn’t go very well. Dissatisfied by a June 6 hearing that said the SEC would not change its current rules regarding the classification of initial […]
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CFTC Chairman Urges ‘Do No Harm’ Approach To Cryptocurrency Regulation
Comparing the development of cryptocurrencies to that of the Internet, the Chairman of the U.S. Commodity Futures Trading Commission (CFTC) J. Christopher Giancarlo holds that regulators need to avoid inhibiting the innovation technology brings.
Tolerant but Cautious
Speaking to CNBC at the Singapore Summit September 14, CFTC Chairman J. Christopher Giancarlo shared his thoughts on cryptocurrency regulations and how it should be approached.
According to the official, cryptocurrencies need to be governed tolerantly. Giancarlo compared them to the Internet and noted that the latter has managed to flourish because the regulators didn’t step in heavily but rather applied a careful, “do no harm” approach.
SEC Chairman: Cryptocurrencies Like Bitcoin Are Not Securities, but Most ICOs Are
U.S. Securities and Exchange Commission (SEC) chairman Jay Clayton states that the SEC will not be bending the rules anytime soon when it comes to cryptocurrencies and that while bitcoin remains a commodity, all initial coin offering (ICO) tokens — or coins offered through a fundraising process — classify as securities.
“We are not going to do any violence to the traditional definition of a security that has worked for a long time,” he explained to CNBC. “There’s no need to change the definition. A token, a digital asset, where I give you my money and you go off and make a venture, and in return for giving you my money I say ‘you can get a return’[;] that is a security and we can regulate that. We regulate the offering of that security and regulate the trading of that security.”
SEC Chairman Applauds ‘Operation Crypto-Sweep’
The chairman of the United States Securities and Exchange Commission (SEC), Jay Clayton, has issued a statement “applaud[ing]” the efforts of authorities associated with the North American Securities Administrators Association (NASAA) in executing the current “enforcement sweep targeting fraudulent ICOs and crypto-asset investment products.”
Also Read: 70+ Investigations: 40 Regulators Crack Down on Suspicious Crypto Schemes
SEC Chairman Commends Regulators Involved in ‘Operation Crypto-Sweep’
SEC chairman Jay Clayton has “applaud[ed]” his “fellow regulators in the United States and Canada who are coordinating and participating in efforts to police fraud in the Initial Coin Offering (ICO) markets.”
Kazakhstan Is on the Brink of Banning Bitcoin, National Bank Chairman Claims
In the world of cryptocurrency, regulation will always remain a contentious topic. To a lot of people, regulating this industry serves no purpose other than to prevent innovation from happening. Others see it as a way to pave a more legitimate ecosystem. In Kazakhstan, it appears the country’s national bank wants to ensure that all cryptocurrency activity is forbidden in the future.
Kazakhstan National Bank Refutes Bitcoin
Anyone who has paid close attention to the various countries trying to regulate Bitcoin and altcoins may have noticed that a negative attitude still reigns supreme. For some reason, a lot of officials have not taken too kindly to cryptocurrencies, and it seems that sentiment will eventually herald some regulatory changes with which most people will not be too pleased.