Could Japan’s Approval of the Bitcoin ETF Affect US SEC’s Decision?

  • 时间:
  • 浏览:42
  • 来源:365bet-365bet官网

  On January 7, CCN reported that the Financial Services Agency (FSA) of Japan is considering the approval of the country’s first Bitcoin exchange-traded fund (ETF).

  With the final deadline of the VanEck Bitcoin ETF on the horizon, could the approval of a Bitcoin ETF in Japan have an impact on the decision of the U.S. Securities and Exchange Commission (SEC)?

  The probability of the approval of a Bitcoin ETF in the U.S. by February remains low. A pro-crypto SEC commissioner Hester Peirce previously said that investors should not wait on a Bitcoin ETF because it may take days or years for the commission to approve it.

  Whether the ETF gets approved or not, the filing of a VanEck ETF will provide more clarity on the subject.

  In the second half of 2018, the SEC rejected 12 Bitcoin ETFs submitted by the Winklevoss twins and three other companies. The Winklevoss twins attempted to launch an ETF using cryptocurrency exchanges to calculate the base price of the asset and the three companies relied on the Bitcoin futures market to develop an ETF.

  All 11 filings were rejected by the SEC because it believed that both exchanges and the futures market are not of significant size.

  The VanEck ETF uses data from the over-the-counter (OTC) market, which is said to be bigger than the cryptocurrency exchange market in terms of volume and trading activity.

  Regardless of the result, it will lead the SEC to evaluate the global cryptocurrency OTC market and also consider the tightening regulatory frameworks in major overseas markets.

  Japan, South Korea, Singapore, Malta, and other regions have implemented strict policies on Know Your Customer (KYC) and Anti-Money Laundering (AML), monitoring suspicious transactions and disallowing anonymous accounts from trading cryptocurrencies.

  In late November of last year, SEC chairman Jay Clayton said that safeguards and technologies to prevent suspicious transactions are non-existent in overseas markets.

  Clayton said:

  Those kinds of safeguards don’t exist in many of the markets where digital currencies trade.

  With the lead of Japan and the G20’s move to regulate cryptocurrencies, many major Bitcoin and crypto asset markets have implemented various safeguards. Some regions like South Korea have implemented stricter rules than the U.S., specifically on the prohibition of foreigners and unidentified individuals from trading cryptocurrencies with the Korean won.

  If a Bitcoin ETF is approved in Japan before the U.S., there exists a possibility that it may lead the U.S. government to approve a Bitcoin ETF in its local market.

  Japan remains as the only country to have integrated a national licensing program for cryptocurrency exchanges, only allowing a handful of exchanges that are fully compliant with existing regulations to operate within the country.

  Currently, the time frame of the FSA’s decision on the approval of Bitcoin ETFs is uncertain and it may also take many months for the government to come to a consensus on the subject.

  Featured Image from Shutterstock. Price Charts from TradingView.

猜你喜欢

CSGO Danger Zone update introduces Sirocco map, perks like the Ballistic Shield

AfteraquiteawhileofnoupdatesfortheCSGObattleroyalemode,DangerZone,CSGOplayersfinallyrece

2020-02-20

「游戏历史上的今天」20年前《生化危机2》Nintendo 64版发售

今年1月29日发售的《生化危机2》重制版可谓抢尽风头,次世代的画面,动人的克莱尔,冷艳的王阿姨,你说这画面谁顶得住啊!那今天我们就回过头来看看1999年10月31日发售的《生化

2020-01-30

DeepMind强化学习重大突破:AI在多人射击游戏完胜人类!

编者按:本文来自微信公众号“新智元”(ID:AI_era),闻菲、肖琴编译。36氪经授权转载。继OpenAI之后,DeepMind也在多智能体强化学习方面秀肌肉:首次在第一人称

2019-10-23

Realme 3 Pro Lightning紫色变色 Realme C2明天首次亮相

“Realme3Pro是一款经济实惠的Android产品,采用Snapdragon710芯片组,水滴式缺口和6.3英寸全高清+显示屏”OPPO的分拆品牌Realme已经赋予了新

2019-10-23

RO《梦想天空》隆重登场,仙境传说online新二转面世

2004年1月8日,广大RO玩家们都会记住这个难忘的日子--RO中传说中天空之城-朱诺和七大新二转职业将隆重登场。圣堂之钟声响起,新梦想的齿轮开始运转,超越期待的七大新二转职业

2019-09-02