Event that has defined Crypto Industry Development

Lebedev

Lebedev

Moderator
Moderator
Jun 26, 2018
154
28
Points
1,168
Reality Shares canceled the application for Bitcoin based ETF stock exchange several days after it was requested. This happened due to the call between company head and American financial regulator.

How CoinDesk informs, Reality Shares ETF Trusts, daughter company of Blockforce Capital, just a few days after making a bit to SEC canceled it, a bit that considered to be extremely important for the future of cryptocurrencies no longer exists - company was planning to run a stock exchange that will give an opportunity for common people to work with bitcoin futures as well as several other platforms.

Event that has defined Crypto Industry Development

This request has been delivered to the regulator on 12 February. How it turned out Reality Shares made such decision after phone call of one of the financial regulator commissars.

Company has already confirmed their decision: they did this because SEC isn't ready to register ETF related with cryptocurrencies.

The law Reality Share's request was build on guarantees that decision will be made after no longer that 75 days (a normal request at the same time requires 240 days). How the company lawyers think the fact of using this law is one of the reasons why the request was asked to be canceled.

This suggest seems to be true, what is more, it confirms that SEC isn't ready for Bitcoin-ETF due to the giant amount of problems crypto industry has been facing. What happened has shown us the real reasons why VanEck and SolidX have canceled and applied their requests again, despite the official reason - shutdown in US.

SEC is not ready to make the final decision about crypto industry and its future and additional 240 days is exactly what they need to see that cryptocurrencies have been developing, what will make them sure in the positive decision in the future.
 
Your Text Ad & Logo

Similar threads


Rules Help Users

You haven't joined any rooms.

    You haven't joined any rooms.
    Forgot your password?