US SEC rejects Fidelity’s Bitcoin Spot ETF amid BTC price struggles
Another Bitcoin bear market and spot ETF rejection by US SEC has left market participants depressed. The Securities and Exchange Commission of the United States gave the spot Bitcoin ETF proposal from investing behemoth Fidelity a green light on January 27. SEC’s rejection of BTC Spot ETF The SEC denied Fidelity’s spot ETF on Thursday morning, according to a recently published document. The regulatory authority has highlighted concerns about cryptocurrency-related scams, manipulation, and investor protection in recent months. While the SEC has raised similar concerns in the past, they appear to have tightened their grip on crypto rules recently. The SEC’s rejection of a Bitcoin ETF proposal put forth by the Winkelvoss brothers Cameron and Tyler, owners of the Gemini exchange, goes back to their rejection of a Bitcoin ETF proposal put forward by the Winkelvoss brothers Cameron and Tyler, owners of the Gemini exchange. The SEC warned in a statement that any rule modification in favor of sanctioning the ETF would not be intended to prevent “fraudulent and manipulative activities and practices” or to “protect investors and the public interest.” The SEC went on to say regarding the BZX exchange: “BZX has not met its burden under the Exchange Act and the Commission’s Rules of Practice to demonstrate that its proposal is consistent with the requirements of Exchange Act Section.” Following Fidelity’s application in March 2021, the regulatory body extended its review window to accept or disapprove the offering in July and then in November. The US Securities and Exchange Commission (SEC) had already rejected a proposed spot ETF centered on Bitcoin from First Trust and Skybridge Capital on identical reasons. Stone Ridge and NYDIG are scheduled to make a decision on an ETF filing by mid-March. The Spot ETF Tussle Continues The Securities and Exchange Commission (SEC) authorized the first-ever Bitcoin […]
Tesla Reports Zero Changes in Bitcoin Holdings in Q4
Tesla (TSLA) revealed on Wednesday that its bitcoin assets were worth $1.26 billion at the end of the fourth quarter. Tesla did not acquire or sell any bitcoin during the quarter, and it did not report any impairments to the value of its bitcoin assets since the price of bitcoin remained roughly unchanged from the […]
See why you should think twice before receiving your salary in Bitcoins
Bitcoin has lost roughly 11% of its value in the last week, as of the time of this writing. In certain nations, the bitcoin explosion has reached unprecedented heights by affecting incomes. Payments in cryptocurrencies were favoured by the millennial generation. Cryptos are, without a doubt, a component of the new financial model, and crypto […]
IMF calls on El Salvador to discontinue Bitcoin’s legal tender status
The IMF executive board advised El Salvador to stop using bitcoin as legal tender owing to the financial risks and obligations caused. The proposal was made in a report released on Tuesday as a result of bilateral discussions concerning El Salvador ‘s economy. According to the study, IMF directors “emphasized that there are significant risks associated […]
American Express is exploring ways to allow credit cardholders to redeem points for crypto – CEO
Cardholders of American Express credit cards may be able to redeem points for cryptocurrencies in the future, but the corporation has no plans to launch a crypto-linked credit card right now. In a Tuesday interview with Yahoo! Finance, Amex CEO Stephen Squeri said that while credit card holders “probably won’t see an Amex crypto-linked card […]