Arca Funds Files With SEC to Issue Stablecoin-Like Digitized Shares on ETH Blockchain

Arca Funds, an American institutional-grade investment manager, is seeking regulatory approval to issue digitized securities on blockchain, according to a filing document released on April 12.The company has filed with the United States Securities and Exchange Commission (SEC) to issue its Arca UST Coins — digitized shares that will be authenticated and then recorded in…

Institutional Investment in Bitcoin Futures Drops as Price Settles: CFTC

The overall institutional investment in Bitcoin (BTC) futures on the Chicago Mercantile Exchange (CME) decreased this past week, according to data published by the United States Commodity Futures Trading Commission (CFTC) on April 9.The data shows that as of April 9, institutional investors and asset managers had 244 open long positions, a decrease of 71…

Hodler’s Digest, April 1–7: Top Stories, Price Movements, Quotes and FUD of the Week

Top Stories This WeekPayPal Invests in Digital Identity-Focused Blockchain Startup in Apparent FirstGlobal online payments firm PayPal has invested in startup Cambridge Blockchain, a firm that focuses on leveraging the tech in order to give users more control over their digital identities. The investment, whose amount is undisclosed, is part of an extension to a…

SEC Staff Publish Framework for Determining If Digital Assets Are Investment Contracts

Staff at the United States Securities and Exchange Commission (SEC) have published a framework to help market participants ascertain whether or not a digital asset is deemed to be an investment contract, and therefore a security. The new “Framework for ‘Investment Contract’ Analysis of Digital Assets” was published on April 3, accompanied by an official…

Crypto Firm Accused of Fraud, Duping Investor Into Buying $2 Million in Tokens

A lawsuit recently filed in a United States district court in New York claims that an investor was misled into investing $2 million dollars in the cryptocurrency MCash, a Feb. 1 court filing states.The filing alleges that the plaintiff Lijun Sun transferred $2 million to New-York based investment group Blue Ocean Capital Group, Inc. to…

US: Bill Exempting Non-Custodial Crypto Services From Certain Laws Reintroduced to Congress

A bill exempting companies providing non-custodial crypto services from certain state money transmitting laws has been resubmitted to the United States Congress. Data confirming this was published on the Congress’ official website on Jan. 14.The bill, titled “To provide a safe harbor from licensing and registration for certain non-controlling blockchain developers and providers of blockchain…

Venezuela Calls US Sanctions Against Its Petro Cryptocurrency ‘Discriminatory’

news Venezuela is pushing back against U.S. sanctions before the World Trade Organization, including ones imposed against its controversial cryptocurrency efforts. The complaint, filed late last month and published this week, addresses a number of actions taken by the U.S. in recent years, claims that the country is infringing on Venezuela’s rights under the General…

US Feds Raid Tech Hub for Unauthorized Crypto Trading: Report

United States federal agencies reportedly raided the office of a Michigan-based science and tech center last month during a crypto-related investigation, local news outlet Wood-TV reported Jan. 5.As Wood-TV reported, Chris Boden, the founder of The Geek Group, made a live public statement on YouTube Saturday night, which has evidently since been deleted. Boden reportedly…

Texas Financial Watchdog May Recognize Stablecoins as Money for Licensing Purposes

The Texas Department of Banking could consider stablecoins as money, making them and exchanges that deal with them subject to a number of Texas laws and license requirements, according to a Supervisory Memorandum published on Jan. 2.Supervisory Memorandum – 1037, which published by the financial watchdog examines the regulatory treatment of digital currencies under the…

New York Assemblyman Announces Creation of ‘First’ US Cryptocurrency Task Force

An assemblyman of the New York state (NYS) legislature announced in a Facebook post on Jan. 3 that the state will have the nation’s “first” cryptocurrency task force.In the post, Clyde Vanel, an NYS assemblyman and Chair of Subcommittee on Internet and New Technologies, stated that New York became the first state in the United…