CBOE Exchange removes Bitcoin ETF application

Summary:

  • CBOE Exchange removes a Bitcoin ETF application

  • UK’s Financial Conduct Authority proposes crypto guidance

  • Cryptocurrencies have started today’s trading rather flat

Thursday’s trading in the cryptocurrency market has not started differently compared to the previous days. Cryptocurrencies have been trading rather flat so far today. According to CoinMarketCap, the capitalization of all cryptocurrencies stands a little above the $119 billion handle whereas the market capitalization of the largest virtual currency Bitcoin sits above the $62 billion mark.

Bitcoin (BITCOIN on xStation5) ended yesterday’s trading below its flat line, and it has begun today’s trading without strong momentum. Source: xStation5

CBOE Exchange withdraws a Bitcoin ETF proposal

CBOE BZX Exchange withdrew its application concerning Bitcoin ETF backed by VanEck and SolidX on Tuesday, as the US Securities and Exchange Commision (SEC) reported in a note released on Wednesday. The application was filed in June 2018, and it experienced many SEC’s delays. The deadline for a final decision was to expire on January 27, 2019. Moreover, Jan van Eck, CEO of VanEck, told CNBC that the ongoing US govt shutdown was a cause behind the withdrawal. Nevertheless, he added that it was only a temporary withdrawal as they planned to re-fill its application in the future. “Instead of trying to slip through or something, we just had the application pulled and we will re-file when the SEC gets going again”, Jan van Eck said. On the other hand, the cryptocurrency market seemed to be rather neutral to this information as we did not observe any sizeable movements.

Thursday has not brought any major moves for Ethereum (ETHEREUM on xStation5) thus far, and it is trading in the vicinity of the $115 handle at press time. Source: xStation5

British Financial Conduct Authority publishes proposed crypto guidance

The UK’s Financial Conduct Authority (a British financial regulator) published a consultation paper titled “Guidance on Cryptoassets” yesterday in which the regulator described how crypto assets should be treated. The British financial watchdog divided cryptocurrencies into three groups (ie. exchange tokens, security tokens, and utility tokens), and it suggested that they could be covered under the current regulations (eg. as financial instruments or e-money) supervised by the authority.

Ripple (RIPPLE on xStation5), like Bitcoin and Ethereum, has started Thursday without any sizeable price movements. Source: xStation5
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