American regulators would have examined the plans of two companies to launch cryptocurrency FNB.
Like Bloomberg News reported Saturday, May 31, Financial rex And BALUBUTIAL FUND Ateden to launch negotiated funds on the stock market (ETF) which offer an exhibition to jalitude, allowing investors to collect rewards by promising tokens that help manage the blockchain.
However, the report added, the Commission of securities (Dry) began to raise concerns that funds could not qualified as FNB under the laws on securities, while the two funds say they to have take a walk Initial approval for the secure of the dry.
According to the report, the dry wrote on Friday ETF TRUST Opportunities – The legal entity which issues various ETFs, including those managed by companies like REX – stating that ETFs may not respond to the legal definition of an investment company, which they would need if they wanted to list the stock market funds.
The SEC said that it feared that the funds “did not deposit their registration declaration” and that “disclosure in the registration declaration concerning the status of funds as investment companies can be potentially deceptive”.
“We believe that we can satisfy the dry on the issue of the investment company, and we do not intend to launch the funds before doing so,” Greg Collett, Advocate General of Rex, said in Bloomberg.
“Even if the SEC does not allow this structure to identify itself, we always think that the simplest attempts to allow us to mark out in an American ETF will finally have success,” said Bloomberg Intelligence ETF analyst James Seyffart. “It’s a question of when, not so. But the dry does not seem to be a fan of the way Rex tried to push these lists.”
The dry last year ETF Bitcoin approved After years of opposition to do so. The president of the time, Gary Gensler, said at the time that approval was only applied to bitcoin And should not be considered as a sign that the regulator is ready to OK other titles listed.
“Although we have approved the registration and trading of certain Bitcoin ETF actions today, we have not approved or approved Bitcoin,” said Gensler. “Investors should remain cautious about the countless risks associated with bitcoin and products whose value is linked to crypto.”
Since then, the SEC has changed its attitude towards the crypto somewhat under the administration of President Donald Trump.
For example, the agency has fallen or interrupted several legal actions against cryptographic companies, more recently trial Against the exchange of crypto Binance And several of his entities, as well as the founder of Binance Changpeng Zhao.
