Last Updated: 11 March 2021
The U.S Securities and Exchange Commission’s (SEC) reluctance to approve a Bitcoin exchange-traded fund (ETF) doesn’t seem to discourage issuers these days.
One such is Simplify Asset Management, which has gone ahead to find ways to structure its products. The firm plans to roll out a Bitcoin product that’s not entirely focused on bitcoin. And why should they? The regulators still don’t trust the crypto sector.
Simplify’s U.S. Equity PLUS Bitcoin ETF
Simplify has filed its Equity PLUS Bitcoin ETF with the financial regulator. According to the filing, the Simplify U.S. Equity PLUS Bitcoin ETF will invest up to 15% of its assets in cryptocurrencies, either “indirectly and solely” through Grayscale’s Bitcoin Trust.
The Biden administration will soon have to settle a bitcoin fight it didn’t even start, and its decision could have far-reaching implications for the cryptocurrency industry.
The battle concerns last-minute rules proposed by the Trump administration that would create new requirements for financial services firms to record the identities of cryptocurrency holders.
The measures are meant to smother attempts to use bitcoin and other cryptocurrencies for money laundering or to finance illegal activities. If adopted, they could cause cryptocurrency prices to plummet, according to some analysts.
The move generated thousands of negative comments and drew the threat of a lawsuit by a crypto trade group
Bitcoin storm brewing over Trump s anti-money laundering push - Article bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Bitcoin Storm Brewing Over Trump’s Anti-Money Laundering Push
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Bitcoin Storm Brewing Over Trump’s Anti-Money Laundering Push
(Bloomberg) The Biden administration will soon have to settle a Bitcoin fight it didn’t even start, and its decision could have far-reaching implications for the virtual currency industry.
The battle concerns last-minute rules proposed by the outgoing Trump administration that would create new requirements for financial services firms to record the identities of cryptocurrency holders. The measures are meant to smother attempts to use Bitcoin and other cryptocurrencies for money laundering or to finance illegal activities. If adopted, they could cause cryptocurrency prices to plummet, according to some analysts.
Bitcoin Storm Brewing Over Trump s Anti-Money Laundering Push msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.