SEC calls for opinion on ETF, Dorsey backs decentralized mining pool and Binance warned in Philippines
SEC calls for public opinion on two bitcoin ETF proposals
The United States Securities and Exchange Commission (SEC) recently disclosed the next steps in its evaluation process for the proposed bitcoin exchange-traded funds (ETFs) from Franklin Templeton and Hashdex.
The regulatory agency has invited written comments on both proposals, seeking input on whether to approve or deny the applicants’ Forms 19b-4.
The forms have a 35-day open period from publication in the Federal Register, allowing stakeholders to express their opinions and provide responses to comments. The rule change applications, enabling the trading of these ETFs, were submitted in late September, with the Hashdex ETF destined for the New York Stock Exchange Arca and Franklin Templeton’s on Cboe BZX.
Jack Dorsey invests in decentralizing bitcoin mining with Ocean
Jack Dorsey, Twitter co-founder and a prominent bitcoin advocate, is spearheading a major shift in the mining landscape with his latest venture called Ocean.
Backed by a $6.2 million investment led by Dorsey, Ocean is designed to decentralize bitcoin mining. The platform is developed by Mummolin, and it aims to bring transparency to the mining process and enable miners to directly receive block rewards from bitcoin. By doing so, it bypasses traditional mining pools.
The platform’s non-custodial model ensures miners are the direct recipients of new block rewards.
Philippine regulator warns Binance for operating without license
The Philippine Securities and Exchange Commission (SEC) revealed critical details about Binance offering securities illegally in the country. Securities, including the issuance price, must be registered with the SEC, and this is applicable to registered companies or licensed traders in the Philippines.
This comes amid a money laundering case against Binance CEO CZ. Shocking statements in the SEC’s database expose that Binance is not registered in the Philippines and operates without the necessary license. There is a strong warning for investors to avoid dealing with such platforms.
The SEC claims that Binance can be accessed through its website, Google Play Store, and Apple App Store. The platform claims to operate a facility for trading financial instruments and offers various investment products, including leveraged spot trading of cryptocurrencies and futures contracts.
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