CBOE President Predicts ICO Tokens To Face 'Regulatory Reckoning' Soon

The United States has received another application from CBOE Global Markets. Other applications have unfortunately not been approved, but a Bitcoin ETF appears to have a better change of success. Many of these rejections have occurred as a result of an unregulated market, but the SEC has recently made clarifications. These changes show that Bitcoin and Ethereum are not considered securities, which hopefully has given enough understanding to help Bitcoin bring more value and institutional money into the industry.

CBOE Global Markets is just one of the most recent companies to put up an application for an ETF licenses. The SEC requested comments on the application on June 26th. The proposal only will trade with SolidX Bitcoin Shares, and each share will be worth 25 Bitcoin. Even with approval, consumers cannot expect to see trading options available until the first quarter of 2019.

VenEck SolidX Bitcoin Trust previously put in two applications for this matter, but they were rejected under the violation that the crypto market was entirely unregulated. This rejection occurred in March 2017, though the SEC released the following statement at the time:

“Based on the record before it, the Commission believes that the significant markets for Bitcoin are unregulated. Therefore … the Commission does not find the proposed rule change to be consistent with the Exchange Act.”

Even though there is still a lot of debate over how the crypto market is regulated, the SEC has clearly decided that the Bitcoin and Ethereum tokens are not considered securities. After this decision was established, it became easier on the market and local regulators to define the coins. Unfortunately, beyond the definition, the SEC still sees these tokens as securities at the origination of them.

Since the SEC has decided that they will not be regulating Bitcoin, there is no worry about unregistered securities. However, the U.S. is way behind other countries that are making great strides in their regulatory measures. Malta recently spoke about the three new laws that they setup on July 5th to help the crypto market to thrive there. In that announcement, it was revealed that Europe’s largest ETF trader plans to make the move to the crypto industry. With these big moves, the SEC should focus more strongly to help the U.S. be more competitive in the industry to keep up.

[FREE] Get Our Best Crypto Trading, Mining & Investing Hacks:

*Action Required* Enter Your Email To Get Insight For Trending Coin News & Reviews

I will never give away, trade or sell your email address. You can unsubscribe at any time.


Please enter your comment!
Please enter your name here

two + nine =