RBI denies acceptance of cryptos, SEC to reconsider Bitcoin ETFs, Canada sees first Bitcoin Fund, EU lawmaker to embed regulations to ICOs, South Korea calls for International Laws for cryptos and ICOs, Australia to study threats related to cryptos
- While the Securities and Exchange Board of India sent officials abroad to study cryptocurrencies, the RBI ruled out the plea to accept crypto as a currency stating that they do not comply with the nation’s legal framework. A final hearing for the legalization of cryptos is due on 17th September when the affidavit is to be reviewed.
- Hester Peirce, the SEC Commissioner, appeared on Crypto Trader which is hosted by Ran Neu-Ner. Hester stated that they are charting out a plan to go about the reconsideration of the ETFs and that there isn’t any predefined outcome of what could happen after it. She said she believes in a system where they let people choose what kind of investments they wish to make rather than restricting people from something that they don’t consider safe enough.
- Amidst the continuous rejections of ETFs by the SEC, Ontario Securities Commission and British Columbia Securities Commission have hailed a green flag to the Bitcoin Mutual Fund. Now, the investors can invest in it using their retirement-saving plan and tax-free savings account through NEO Connect platform.
- EU Lawmaker conducted a meeting to discuss the regulations that the ICOs need to abide by. The MEP’s proposal stated to 'limit the proceeds for ICOs to 8 million euros, mandate know-your-customer/anti-money laundering rules, and provide token startups with access to the entire EU'. He said that his sole intention of doing so is to bring transparency in the procedures of ICOs.
- The Governor of South Korean Financial Supervisory Service requested to 14 other countries, during the 20th Annual International Financial Supervisors Conference, to settle on international laws that can govern cryptocurrencies and ICOs. He said: