This week in the industry, we saw the gears of government and regulation grinding, we check in on some mining news and we take a moment to reflect on the state of the market and industry innovation. Here are some of Bitcoin Magazine’s top bitcoin, blockchain and cryptocurrency news stories for the week.
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The Latest in Regulation
Not a Done Deal: U.S. SEC “Will Review” Most Recent ETF Decisions[2]
China Blocks Access to Over 120 Offshore Digital Currency Exchanges[3]
WeChat Shuts Down Numerous Crypto Media Accounts[4]
Top Crypto Exchanges Join Winklevosses’ Self-Regulatory Organization[5]
This Wednesday, the United States Securities and Exchange Commission released orders on nine bitcoin exchange traded fund (ETF) proposals. Each of the three orders, like those that preceded them, shot down[6] all of the ETFs in question.
But these decisions, the SEC revealed[7] the next day, are now up for review. This development has offered a glimmer of hope for the industry in its slow-slog toward a bitcoin-backed, exchange-traded product.
In the march toward clearer crypto regulation in the States, exchanges have taken the lead in an attempt to quicken the pace. The Virtual Currency Association, a self-regulatory organization spearheaded by the Winklevosses and their Gemini exchange, added three new members[8] this week. With these latest additions, the VCA continues to work toward its goal of “establishing an industry-sponsored, self-regulatory organization (SRO) to oversee virtual commodity marketplaces,” in advance of a summit to be held this September.
While the U.S. grapples with regulations and oversight for its own virtual currency markets, the Chinese government is looking to siphon its citizens’
