Updated Crypocurrency Regulations May Help Recent Bitcoin ETF Application Pass

  • CBOE Global Markets recently filed an application for a Bitcoin ETF, and it now seems likely that this request will be approved because decentralized cryptocurrencies aren’t securities.
  • CBOE’s Bitcoin ETF is the most recent application, and before it, a similar Bitcoin ETF application by the Winklevoss twins was rejected because the regulator determined that crypto markets were mostly “unregulated.”

CBOE Global Markets recently filed another application for a Bitcoin ETF. This was sent after several similar requests by other firms were denied, due mainly to regulatory concerns related to cryptocurrency markets.

CBOE’s application comes after the US Securities and Exchange Commission (SEC) announced that Bitcoin (BTC) and Ethereum (ETH) will not be classified as securities. This means it may have a better chance of being approved, thus potentially drawing more institutional investors to the digital currency ecosystem.

CBOE Global Markets launched Bitcoin futures contracts in the United States on December 10, 2017. Its current Bitcoin ETF application was posted online by the SEC, and the federal regulator asked traders and investors to provide feedback regarding CBOE’s request.

Reportedly, the proposed ETF will limit trading to SolidX Bitcoin Shares, with one share’s value being 25 Bitcoins. Should the application be approved, trading is scheduled to start by Q1 2019.

Past Attempts

In the past, the SEC has rejected several Bitcoin ETF applications, one of them from the Winklevoss twins, whose exchange recently hired a former NYSE CIO, in March, 2017. Lack of adequate regulations was the main reason cited by the American regulator for rejecting it.

Last year, the SEC issued a statement that read:

[The] significant markets for Bitcoin are unregulated. Therefore … the Commission does not find the proposed rule change to be consistent with the Exchange Act.

SEC

Despite the SEC’s active involvement in monitoring and regulating cryptocurrency markets, there still seems to be a lack of clarity among US citizens as to exactly how crypto assets are regulated and which government bodies are responsible for regulating them.

While decentralized cryptocurrencies are likely not securities, there’s still confusion surrounding initial coin offerings (ICOs). Whether or not regulators see ICOs as securities is unclear, although previous announcements pointed in that direction.


 

'We Are All Satoshi' Says Early Bitcoin Miner Calling out Craig Wright

Francisco Memoria

An unknown bitcoin miner has signed a message on the Bitcoin blockchain with over 140 different wallets, calling self-proclaimed Satoshi Nakamoto a “liar and a fraud” and singing off with “we are all Satoshi.”

The message was then spread on a debian with a list of 145 different BTC addresses and their corresponding signatures. Verifying several addresses shows the signatures match, which does mean the miner owns all of the listed addresses and has the private keys to sign a message with them. The message itself reads:

Craig Steven Wright is a liar and a fraud. He doesn't have the keys used to sign this message. The Lightning Network is a significant achievement. However, we need to continue work on improving on-chain capacity. Unfortunately, the solution is not to just change a constant in the code or to allow powerful participants to force out others. We are all Satoshi

The addresses can notably be found in a list of thousands Craig Wright claimed to own in the case against the estate of the late Dave Kleiman. Kleiman’s lawyers have, however, recently said Wright has access to his BTC fortune but won’t access it because he knows its contents “will include partnership records.”

Wright has failed to prove the ownership of these addresses on several occasions, as he has not signed a message with the private keys to these addresses yet. Last year, a post on Memo.Cash signed a message for another address owned by Wright, saying it did not belong to him and he is a “liar and a fraud.”

This recent messages echoes one sent from Satoshi Nakamoto’s email address back in 2015, claiming he is not Craig Wright and “we are all Satoshi.” On social media users have been speculating the message was sent by Satoshi Nakamoto himself over the similarities.

Did Satoshi Send the Community a Message?

Users have been relying on the analysis of the “Patoshi” pattern to identify whether an address is associated with Satoshi Nakamoto himself. The analysis gained fame earlier this month after a miner moved coins mined in 2009, sparking discussions Satoshi was active once again. Blockchain analysis does indicate it was unlikely Satoshi moved his coins then, and it’s unlikely he signed this recent message.

It’s worth noting, however, the early miner that signed these messages has advanced knowledge and was very careful. Every address independently checked by CryptoGlobe has received a Coinbase reward of 50 BTC and hasn’t moved the funds since they were mined. All of the transactions date back to 2009 and 2010.

It’s unlikely the miner never used bitcoin – or the bitcoin cash airdropped in 2017 to these addresses – after holding onto it for over a decade. Instead, it’s likely the miner chose addresses from which the funds haven’t been moved to avoid being identified by sleuths.

Featured image via Pixabay.