Winklevoss Twins Bitcoin ETF Application Rejected by SEC

Crypto News | Latest News

The U.S. Securities and Exchange Commission (SEC) has rejected the application for a Bitcoin exchange-traded fund by brothers Tyler and Cameron Winklevoss. The news was broken by CNBCThursday, July 26.

The WInklevoss twins’ first application for a Bitcoin ETF was rejected by the SEC in February 2017. The stated reason, back then, was the largely unregulated nature of Bitcoin (BTC) markets. The agency said back then:

”When the spot market is unregulated–there must be significant, regulated derivatives markets related to the underlying asset with which the Exchange can enter into a surveillance-sharing agreement.”

CNBC reports that the SEC published a new “release” Thursday, July 26, saying that it does not support the Winklevoss’ claim that crypto markets are “uniquely resistant to manipulation,” rejecting the twins’ second application made in June.

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Despite receiving requests for a Bitcoin ETF approval from a number of applicants, the SEC has still not accepted any of them as of press time.

Author: Cryptobonx

Cryptobonx is a Crypto –Currency and Blockchain Enthusiast.He is a believer of transforming complex information into simple, actionable content.

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Winklevoss Twins Bitcoin ETF Application Rejected by SEC

Crypto News | Latest News

The U.S. Securities and Exchange Commission (SEC) has rejected the application for a Bitcoin exchange-traded fund by brothers Tyler and Cameron Winklevoss. The news was broken by CNBCThursday, July 26.

The WInklevoss twins’ first application for a Bitcoin ETF was rejected by the SEC in February 2017. The stated reason, back then, was the largely unregulated nature of Bitcoin (BTC) markets. The agency said back then:

”When the spot market is unregulated–there must be significant, regulated derivatives markets related to the underlying asset with which the Exchange can enter into a surveillance-sharing agreement.”

CNBC reports that the SEC published a new “release” Thursday, July 26, saying that it does not support the Winklevoss’ claim that crypto markets are “uniquely resistant to manipulation,” rejecting the twins’ second application made in June.

FREE CRYPTO COIN JUNKY HANDBOOK - 147 page guide covering Crypto Fundamentals, Beginners/Advanced Crypto Trading Strategies, Crypto Mining Techniques, ICO Investment strategies, and so much more.

CRYPTO TRADING STRATEGY GUIDES - Whether You're Day Trading, Swing Trading, Or Just Investing...Our Extensive Guides Will Get You To Where You Want To Be.

Despite receiving requests for a Bitcoin ETF approval from a number of applicants, the SEC has still not accepted any of them as of press time.

Author: Cryptobonx

Cryptobonx is a Crypto –Currency and Blockchain Enthusiast.He is a believer of transforming complex information into simple, actionable content.

Leave a Comment

[js-disqus]

Latest Crypto News

Goals set by Justin Sun for Tron(trx)in 2019

On the 31st Of May 2018, Tron achieved independence from Ethereum and Launched its own Mainnet with the Intention of being a fully functional Public Blockchain that supports Creation and development of decentralized Apps (dApps)

Read More »

Crypto Regulation Commences in South Africa

The South African government today issued a statement regarding the steps it is taking on cryptocurrency trading by setting up a working group dedicated to regulating blockchain and crypto. Background Before we get into that,

Read More »

Facebook Hiring: 5 Cryptocurrency Positions Open

Something is definitely brewing in Facebook’s newly formed department. Early in May, there was a rumor that Facebook was interested in opening a cryptocurrency department within its headquarters. The advertised positions are: Two Software Engineers

Read More »

Crypto StartUps are Failing

Cryptocurrency start-ups have had a rough year with a huge section of them laying off loads of their workers with the  Bitcoin price crash. Bitcoin has lost around $280 billion of its value this year

Read More »

Sign Up Below!
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