📌 SEC Will Consider the Changes in Bitcoin ETF Listing Rules
The Commission has only a few weeks before deciding on new ETF listing rules proposed by Cboe BZX Exchange, Inc. and GraniteShares. On October 26, all funds except VanEck can change their chances of SEC`s approval
The Securities and Exchange Commission (SEC) released a document on Thursday, revealing the rule change proposed by Cboe. According to this, Cboe BZX Exchange, Inc. and GraniteShares introduced new amendments to the proposed ETF listing rules. The deadline for consideration of the GraniteShares application is October 26, 2018, and probably we will see a lot of fud or speculative forecasts up to this day.
Also, we already know that the application from companies has been already sent to SEC on August 21, 2018, i.e. more than a month ago. But, these new amendments change some of the listing conditions, affecting the chances on ETF approval/disapproval. Namely, the first: it is proposed to create two ETF products in order to avoid some risks associated with volatility: GraniteShares Long Bitcoin ETF and GraniteShares Short Bitcoin ETF could potentially work just after the approval.
Another important consequence is that funds won't be directly invested in Bitcoin; this ETF will provide futures contracts. If SEC will show the green light, 2 markets at once - CBOE Futures Exchange (CFE) or the Chicago Mercantile Exchange (CME) will be the place where these futures can be traded. The second amendment related to the type of product, trust fund, and asset management states:
“The funds’ futures contract positions will be rolled over before maturity so that the funds will never be directly exposed to bitcoin."
Before the designated date, the Commission should decide on these amendments, which will affect its final response on GraniteShares Bitcoin ETF, GraniteShares Short/(Long?) Bitcoin ETF, Direxion Daily Bitcoin Shares, ProShares Bitcoin ETF ProShares Short/(Long?) Bitcoin ETF.
The decision doesn't affect VanEck/SolidX ETF because their product is physical futures. At the moment, the chances of approval(s) are still low. There is very little time left before the discourse on traded funds could be changed in the opposite way. Whether these amendments will play its role - we will find out later.
📌 U.S. Lawmakers Form a Working Group to "Determine" Blockchain
The “Blockchain Promotion Act of 2018” can only not to determine the legislative core of this technology, but may become a starting point of the further regulation processes
What is distributed technology today? Likely, not just a hash, and not mysterious solutions that are based on program code. Sometimes, first of all - a blind spot in legislative and legal practice. US representatives Doris Matsui and Brett Guthrie, have introduced a law to create a working group to determine what blockchain actually is, on the legal level, of course.
The bill, H.R. 6913, “Blockchain Promotion Act of 2018” proposed by Matsui, will determine the definition of blockchain, which could be used in many cases. In general, this proposal can be viewed as positive for the industry, given that its creators are also pro-crypto minded. But, what kind of things can we see in this?
In general, blockchain is one of quite a few technologies that require an additional "definition". Even electronic versions of products (its mirrors, physical copies) do not receive an additional comment in legal practice and are often considered as "de facto". Is blockchain still so difficult? For the most part, the working group is likely to offer other solutions related to the cryptocurrency area. That`s why such a bill can only be called the start of the representatives' relationship with the crypto legislation.
📌 Vitalik Buterin: «I think Ethereum Can Absolutely Survive Me»
Ethereum founder discloses present relations with the project, giving a sign that his influence on the network is being reduced
According to the recent tweet by Vitalik Buterin, the Ethereum network would “absolutely survive” without its core developer, so Vitalik is actually “detaching himself” from Ether. The opinion has been expressed when Ethereum's issues were discussed, as well as the altcoins on the ETH basis, and all this, in general, led to compare Vitalik's impact on the network and its present state together. To which, Buterin replied:
I think ethereum can absolutely survive me spontaneously combusting tomorrow at this point.
— Vitalik Non-giver of Ether (@VitalikButerin) 4 Oct 2018 г.
The segregation between the creator and his project seems to be "in progress", considering that a number of studies, subprojects are being led by other people.
📌 BlackBerry Releases Blockchain Solution for Healthcare System
The popular smartphones manufacturer introduces more hi-tech solutions which operate with private healthcare data
BlackBerry, the software/popular smartphones manufacturer has launched a blockchain platform for the healthcare industry. The system is designed to store and secure the movement of medical data. The solution can be used by patients, laboratories, and biometric IoT devices.
Now the company is waiting for the regulators' response, In order to officially release the platform and other medical-related technologies. Also, BlackBerry introduced a system for developing robotic surgical instruments, and a real-time health-check — all of these solutions involve the high-tech side of the medical industry and may become the new future of healthcare.
>"We are applying our expertise in security, data privacy, and communication work in regulated industries such as automotive, financial services, and government to tackle one of the biggest challenges in the healthcare industry: leveraging healthcare endpoints to improve patient outcomes while ensuring security and data privacy"
John Chen, Executive Chairman and CEO of BlackBerry
Blockchain, in this case, is one of the most suitable solutions for working with data.
📌 More updates
- Ethereum developers have postponed the activation of Constantinople upgrade.
- Bitcoin.com wallet will no longer support Shapeshift services: announcement.
- BitGo adds Stellar (XLM) and Dash (DASH) support.
- Lisk releases Lisk mobile for iOS and Android.
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