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September 25, 2019

ETF RULES: The U.S. Securities and Exchange Commission (SEC) is considering approval of another bitcoin exchange-traded fund (ETF). According to a public filing published Tuesday, the SEC is evaluating a rule change to allow NYSE Arca to list and trade shares of Wilshire Phoenix’s Bitcoin and Treasury Investment Trust. The proceeding began in June, when the SEC floated questions to the general public, though records show only six respondents. Full story

ALT ADDS: One of the oldest crypto exchanges, bitFyler, will support new cryptocurrencies for its European and American subsidiaries. Announced Tuesday, bitFlyer Europe is adding buy and sell trades for bitcoin cash (BCH), ethereum classic (ETC), litecoin (LTC), lisk (LSK) and monacoin (MONA), while bitFlyer USA is adding bitcoin cash, ethereum classic, and litecoin to its trade offering as well. Full story

1 FUND: Venture capital firm 1confirmation announced a new $45 million fund for cryptocurrency startup investments, led by early Coinbase employee Nick Tomaino. Tomaino previously ran the firm’s first $26 million venture fund. 1confirmation has invested in a wide array of new companies including BloXroute, Tendermint, OpenSea and Commonwealth. It invests in both equity and cryptocurrency tokens. Full story

PERKINS-BACKED: Crypto data analytics startup Skew has raised $2 million in seed funding from VCs including Silicon Valley icon Kleiner Perkins. Announced Wednesday, the round was led by London-based FirstMinute Capital, with participation from Seedcamp, Kima Ventures and QCP Capital. Also announced was the company’s skewAnalytics service, which provides a real-time overview of crypto derivatives markets with more than 100 charts on crypto futures and options. Full story

BLOCKCHAIN BILL: The House of Representatives passed legislation calling for the Financial Crimes Enforcement Network (FinCEN) to study “innovative technologies” — including blockchain – to improve the bureau’s operations. The bill, dubbed “Advancing Innovation to Assist Law Enforcement Act” was passed on Sept. 19 and now moves to the Senate for consideration. The “bill makes sure that we are using the best technology we have available to find and stop the money laundering that makes all these crimes not only possible, but financially profitable for cartels, traffickers, and terrorists,” said Representative Anthony Gonzalez (R) Ohio, who introduced the bill in May. Full story

FALL BELOW: Bitcoin fell sharply on Tuesday, confirming a bearish reversal and opening the doors for a test of crucial price support near $7,500. The leading cryptocurrency by market value ran into selling pressure around $9,700 in the early U.S. trading hours and fell to a 3.5-month low of $7,998 at 19:45 UTC on Bitstamp. BTC had been on slippery ground following Tuesday’s volatility band breakdown. Further, a widely-followed indicator reported the strongest a bear bias in nine months. Full story
DIGITAL YUAN DELAY: Before launching its sovereign digital currency , sometimes referred to as the digital yuan, China’s officials will seek further “research, testing, trials, assessments and risk prevention,” the South China Morning Post reports. Last month, the People’s Bank of China (PBOC) said the token was “almost ready,” though today PBOC governor Yi Gang suggested the government currently has no launch timetable. 

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