Cash App Bitcoin News
Cash App Nets $125 Million in Revenue for Square
August 15, 2019
bitcoin ethereum bull rum twitter scams
Bitcoin’s Bull Run Spikes Crypto Twitter Scams
August 20, 2019

SEC Once Again Delays Decisions on Bitcoin ETF’s

SEC Bitcoin ETF

The US Securities and Exchange Commission’s ongoing battle with cryptocurrencies has been well documented over the years. Lately, it appears that the Security and Exchange Commission (SEC)’s main tactic is simply to drag its feet in pressing matters.

Covered on Decrypt and reposted on Yahoo Finance, the whole matter of legal bitcoin EFT’s remains on hold. An EFT is an exchange traded fund. The SEC has postponed all pending decisions on their legality until the fall.

betanysports

Why Is The SEC Delaying The Bitcoin ETF?

Currently, there are three bitcoin EFT proposals up for consideration. The first is Wilshire with a new target date of Sept. 29 for final approval. An official ruling from the SEC still faces a possible delay of up to 150 additional days from that point.

The two other proposals are Bitwise and VanEck. Decisions on these two EFT’s have been pushed to Oct. 13 for Bitwise and Oct. 18 for VanEck. Push will come to shove at that point with a definitive “yes” or “no” answer from the SEC. It does not have the option to delay either matter any longer than it already has. This has been determined by former securities litigator Jake Chervinsky. He is basing his determination on the way the proposals were presented from the start.

This has been a long, drawn-out process for bitcoin EFT’s such as VanEck. Its original proposal for a bitcoin EFT was first filed in August of 2017. The two-year process has continually been stalled. The bull run for Bitcoin (BTC) went all the way to the end of 2017 when market values reached $20,000. The ensuing bear market lasted all the way into early this year.

The SEC has always looked at cryptocurrency in a negative light. This report used the exact terminology of “concern and disdain.” VanEck’s original proposal was quickly rejected. It was later reformulated on two separate occasions for further consideration. The SEC will have to render its final decision on Oct. 18. Speculation can run wild with optimism or dark with despair. It is hard to even render a guess as to which way things will go more than two years later.

Bitcoin is the No.1 way to fund your betting account at BetAnySports Bitcoin Casino & Sportsbook and all deposits and withdrawals have no transaction fees. Reduced juice options with -105 betting odds as well as the fastest payouts in the sports betting industry make BetAnySports the top online sportsbook for US players.

Summary
SEC Once Again Delays Decisions on Bitcoin ETF’s
Article Name
SEC Once Again Delays Decisions on Bitcoin ETF’s
Description
The US Securities and Exchange Commission’s ongoing battle with cryptocurrencies has been well documented over the years.
Author
Publisher Name
Army Of Bitcoin
Publisher Logo

Comments are closed.