The first Bitcoin ETF began trading today in the United States. Although this ETF is a Bitcoin Futures ETF, the world’s largest digital currency manager announced today that an application to convert its Bitcoin Trust into a Bitcoin Spot ETF has been filed. Bitcoin, other Cryptocurrencies and digital assets in general will continue to gain
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A Summary of the SEC’s Director of Corporation Finance Speech on Cryptocurrencies
On June 14, 2018, the SEC’s Division of Corporation Finance Director, William Hinman, gave a speech titled “Digital Asset Transactions: When Howey Met Gary (Plastic).” This speech provides additional insight into the SEC’s view as to whether cryptocurrencies and initial coin offerings (“ICOs”) are securities. Here is a summary:
In his speech, Hinman…