SEC Seeks More Comment As It Moves to Make Decisions On CBOE's Proposed ETF Listing

The US Securities and Exchange Commission (SEC) has published this September 20, 2018 an 'Order instituting proceedings to determine whether to approve or disapprove a proposed rule change' filed by CBOE Exchange.

As part of the notice, the SEC wants more input from the public providing series of questions for the community to comment on, at the same time allowing any other comments about the proposed rule change.

If the SEC has not made any decision yet on September 30, 2018, the commission will have make decision on December 2018, which could still be delayed until February 2019.

February will be the last date the SEC has and can delay no further their decision. If the SEC has not made any decision yet on that date, the proposed rule will automatically be considered as approved.

Regulators In Texas Stops 3 Crypto Scams

The Texas State Securities Board has taken action against fraudulent offerings of crypto-related investments schemes.

The US agency released a cease and desist order against Coins Miner investment Ltd, DigitalBank Ltd, and Ultimate assets.

Coins Miners was found pretending to represent Coinbase to solicit funds from Texas residents.

It was also accused of fabricating photographs and videos to show legitimacy of their operations.

DigitalBank was also served a cease and desist order for an Initial Coin Offering which the agency concluded to be deceptive as it misled investors on the profitability of the company, while hiding key information needed to make unbiased decision.

The third cease and desist letter from the Texas State Securities Board was issued to Ultimate Assets which has been promising its investors of 900% ROI in Bitcoin and Forex Trading, informing their clients that its trading platform involved no risk and that returns were always guaranteed.

NYU Offers First Blockchain Technology Degree

New York University (NYU) is now offering a major in Blockchain technology and is becoming the first university in the U.S. to offer such a program for students.

he program will be under the NYU Stern School of Business, a pioneer in offering undergraduate courses in cryptocurrencies and blockchain.

Associate professor Kathleen Derose states that the university is expecting large companies to partner within the training program and fintech startups will likely to have further innovation in the said space.

The release of the program comes at a time where interest on cryptocurrency and blockchain technology is at peak among younger generations.

According to a study released by Coinbase 42% of the world’s top 50 universities have at least one class on the aforementioned topics.

Ripple Partners With PNC Bank

Ripple has recently announced that it has partnered with one of America’s top ten bank, PNC Bank.

The said partnership will focus on commercial customers of the said bank.

With this partnership, the customers of PNC will be able to receive real-time cross-border payments through its network called RippleNet.

PNC is one of the biggest banks in the US which has an annual revenue of $16,32 billion last year.

They service around 8 million customers and have branches in 19 states with over 9000 STMs.

Upon the news of the partnership, its stock went up by 1.4% and recently, XRP price pumped nearly 40%.

Ripple has been busy pushing for the adoption of their product and have made other noteworthy partnership abroad particularly its partnership with the National Commercial Bank in Saudi Arabia opening up an important payments corridor between the US and Gulf Countries.

Ripplenet has grown to more than 100 financial institutions and continues to expand steadily each month.

Bakkt’s Goal: To Make Cryptocurrencies More Liquid And Trusted

Kelly Loeffer, the CEO of New York Stock Exchange-backed platform, akkt reveals that they will be serving institutions with infrastructure for cryptocurrencies.

She states that markets evolve over time to establish a certain value, act as a facilitator for commerce, and instill confidence in forming prices.

With that in mind she reveals that the main goal of Bakkt is to make digital assets more liquid, trusted and accessible that enables meaningful innovation to follow afterwards.

She reckons that it would be a difficult task to launch a new product which is based solely on a new emerging technology, thus Bakkt will be using the available futures market infrastructure which is time-tested and regulated.

The Bitcoin futures contract will be paired with fiat currencies such as USD, GBP and EUR.

Korea’s Largest Exchange To Open In Singapore

The parent company of South Korea’s biggest exchange, Dunamu has recently revealed its plan to launch Upbit Singapore which has been reported to be fully operational by next month October.

Alex Kim, the CEO of Upbit Singapore states that Singapore residents will be able to trade all of the cryptocurrencies integrated by partner Bittrex with 24/7 real-time security monitoring and firewall system for extra security. \

The company’s decision to expand its operation in Singapore was encouraged by the positive approach of the Monetary Authority of Singapore (MAS) towards the nascent industry and the vision of the country’s government to establish a strong crypto and blockchain sector.

Dunamu CEO, Singroo Lee believes that Singapore to be a bridge between Korea and the global cryptocurrency exchange market with its very progressive stance towards the space.

Current regulatory uncertainty in South Korea might be one of the reasons as crypto and blockchain legislations have not been passed.

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