The US is known for its controversial attitude to blockchain and cryptocurrency. Despite speculations about their government exploring the possibility of launching a digital dollar, the country's financial regulators such as the SEC demonstrate hostility against companies working in the sector.
The SEC recently responded to Wilshire Phoenix’s Application for the approval of a proposed rule change to launch a Bitcoin ETF. SEC rejected the citing insufficiently weak strategies for combating major common financial crimes such as Market manipulation and Money laundering.
Steven Seagal will pay $314,000 to settle allegations of unlawful cryptocurrency advertising, the US Securities and Exchange Commission (SEC) said. In 2018, the actor on social networks urged people not to miss the opportunity to participate in the initial public offering of cryptocurrency (ICO) Bitcoiin2Gen (B2G).
The US SEC has finally revealed it’s long awaited position on the bid filed by Wilshire Phoenix for a Bitcoin ETF. Wilshire Phoenix filed its application for a Bitcoin Exchange Traded Fund in mid 2019, but SEC only responded to it recently. The financial regulator cited fraud concerns as the major reason for rejecting the ETF application.