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CBOE Exchange withdrew a request for Bitcoin-ETF from the SEC, an over-the-counter OTC platform from Binance was launched. FCA instructions for cryptocurrency has been published.
A request from VanEck, SolidX and the CBOE exchange for the right to trade with bitcoin-ETF contact has been withdrawn. This is stated in the message of one of the leaders of the SEC Eduardo Alemán. The Securities Commission twice postponed the consideration of this issue, and the final verdict should be delivered on February 27.
However, the Chicago Stock Exchange decided not to wait for this deadline, and itself withdrew the application. There are no official comments for the reasons for this step. But some experts believe that this was done because of the predetermined decision. The SEC is not yet ready to agree to trade contracts Bitcoin ETF. A representative of VanEck said that the application was withdrawn temporarily. The fact is that because of the pause in the work of the American government, the Commission is also forced to postpone its activities. And VanEck, SolidX and CBOE decided not to exert pressure on it.
Why story about SEC and Bitcoin-ETF has no answer
Binance, one of the largest cryptocurrency exchanges, is launching its platform for over-the-counter trading in digital financial assets. It will not support fiat money, and is intended for trading exceptionally large contracts. The minimum order size is equivalent to 20 BTC.
There is no order book on the newly created OTC platform, and execution will take place at the same price. It is expected that the new service will attract institutional investors to the trading of cryptocurrencies. In total there will be 80 tools available. Earlier, such trading platforms have already created Bittrex and Poloniex exchanges.
The British Financial Supervision Authority has published a draft guide on handling digital financial assets. All of them are divided into three categories, with a special approach being applied to each.
Cryptocurrencies themselves are called inappropriate under the definition of "special investments" tools, as long as they are not recognized by legal means of payment. At the same time, tokens-actions fell under this definition. They can be classified as financial instruments. A special place in the FSA document is given for stablecoins. They were found to correspond to the concept of "electronic money", because their rate is rigidly tied to fiat money, and the value itself is provided by reserve assets.