Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
The US regulator again delayed the verdict on another spot a contract or transaction buying or selling a cryptocurrency for immediate settlement, or payment and delivery, of the cryptocurrency on the market. Bitcoin ETF. Will it decide this 2022 to give the long-awaited ‘yes’ to such a product?
The U.S. Securities and Exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Commission (SEC) has decided to delay again its decision on a U.S. exchange-traded fund (ETF) of Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. in cash. This time, it’s the NYDIG application.
The regulatory agency this week filed an extension notice for the ETF’s Bitcoin of NYDIG, a subsidiary of asset manager NYDIG, a subsidiary of asset manager Stone Ridge Holdings Group . In acomunicadoThe SEC said it has postponed the verdict for 60 days, which means NYDIG can now expect a response on its proposal by March 16.
The U.S. federal regulator noted:
The Commission believes that it is appropriate to designate a longer period for issuing an order approving or disapproving the proposed rule change change — a concept relevant to cryptocurrencies that use the UTXO model — is the number of coins sent back to a user after they use their unspent outputs to initiate a transaction. so that it has sufficient time to consider the proposed rule change and the issues raised in the comments that have been filed in connection with it.
SEC Remains Skeptical of a Physical Bitcoin ETF an Exchange-traded Fund, an investment fund that users trade on exchanges and trading platforms.
NYDIG submitted a proposal for an ETF of Bitcoin spot in February last year. At the time, an official presentation revealed that the fund would track the price of the leading cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. while BTC funds would be held in a trust. In addition, the banking giant Morgan Stanley serve as an authorized participant of the ETF, which would be traded on the exchange. NYSE Arca .
The U.S. regulator was expected to issue a decision on the investment product by Jan. 15. However, as has been the case with other applications of its kind, the SEC has now extended the deadline for approving or rejecting the proposal.
An ETF is an investment product that allows investors to buy shares that represent an asset without having to trade in it directly; it can be currencies, gold, or Bitcoin . For a long a situation where you buy a cryptocurrency with the expectation of selling it at a higher price for profit later. time, cryptocurrency enthusiasts have been chasing the launch of a cryptocurrency ETF. Bitcoin The company believes that this product will open the door to traditional investors, boosting the price of the asset.
Last year, the SEC approved for the first time a futures a futures contract is a standardized legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specified time in the future. ETF of Bitcoin . The arrival of this product to the market an area or arena, online or offline, in which commercial dealings are conducted. in October marked a milestone for the crypto space and caused a spike in the price of cryptocurrency, at the time. Other similar funds have been launched on the exchange since then. However, a futures ETF is not the same as a spot one. The former is based on contracts that bet on the future price of Bitcoin while the second tracks the asset itself.
Los U.S. regulators have not yet approved the first ETF of Bitcoin in cash cash is the most liquid form of money: physical coins and banknotes in the most narrow sense of the term. (also referred to as “physical”); and they have generally rejected a large list of such requests. The latest deadline extension to the NYDIG ETF comes after the decisions on the products of Bitwise, Grayscale y WisdomTree were postponed in December.
Meanwhile, various analysts have highlighted that there is strong interest in the U.S. market for a physical Bitcoin ETF, and some have even anticipated that 2022 could be the year when the first one is finally approved. However, SEC Chairman Gary Gensler has shown little enthusiasm for the approval of such a fund.
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Article versioned by Hannah Estefania Perez / DiarioBitcoin
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