Connect with us

Blockchain

Biden to Discuss Crypto and Ransomware Issues at G-7 Summit

Published

on

At yesterday’s White House press briefing, President Biden’s national security advisor, Jake Sullivan, stated that Biden is planning to discuss various crypto-related issues at the G-7.  

Sullivan not only said that he Biden will be discussing crypto issues, but he also doubled down by stating that examining the role of crypto in cyberattacks needs to be a priority. Sullivan believes that both NATO and any country in the G-7 need to be looking into these issues in preparation for next month’s summit. 

Biden appears in line to be the first sitting president who will be forced to deal with a broad range of issues that pertain to cryptocurrency. The President has not only been focused on protecting from these ransomware attacks, but he has also announced a crackdown on tax evaders via global data sharing.

The administration has made it know they are putting forth extra effort to ensure traders on the crypto market abide by regulations and that any loopholes in the system are patched quickly. A number of Biden appointees have opined about the cryptocurrency landscape with many expressing less than positive sentiments. 

During yesterday’s press conference, Sullivan was quoted as stating that “It is important to deal with the cryptocurrency challenge which lies at the core of how these ransomware attacks are carried out. Ransomware is a national security priority.” 

The ransomware issue has been a hot topic this week after the US Department of Justice (DOJ) recently seized over $2 million in Bitcoin ransom. The seized ransom was forked over to a Russian hacker group named DarkSide after it was extorted from Colonial Pipeline, said the DOJ

This attack came during a spree of ransomware cyberattacks thought to originate from Russia that specifically set their sights on US-housed companies such as Colonial Pipeline. The attack had ramifications that extended far beyond crypto wallets because it resulted in gas shortages all up and down the Eastern Seaboard. 

Luckily for Colonial Pipeline, the FBI was able to regain control of most of the stolen 63.7 BTC and return it. The seizure took place in Northern California which allowed the FBI to access the private key to the hacker’s wallet and regain the stolen funds. No official word on how the private key exactly was obtained. Special agent in charge Elvis Chan did say that “I don’t want to give up our trade craft in case we want to use this again for future endeavors.”

While Sullivan didn’t condemn cryptocurrencies in so many words, he did state his belief that Bitcoin and other digital assets tend to be “at the core” of these hacker attacks. 

Biden will not be waiting until the G-7 to begin discussing these issues. The President has a meeting with Vladimir Putin soon, and he is expected to address the cyber-attacks emanating from Russia. 

According to NBC News, Ransomware groups have carried out more than 1,000 attacks globally in the last five months alone. 

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

Share Article

Matthew De Saro is a journalist and media personality specializing in sports, gambling, and statistics. Before joining BeInCrypto, his work was featured on Fansided, Forbes, and OutKick. With a background in statistical analysis and a love of writing, he takes an outside-the-box approach to reporting news.

Follow Author

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://beincrypto.com/biden-to-discuss-cryptocurrency-and-ransomware/

Blockchain

SEC Delays VanEck Bitcoin ETF Application—Again

The SEC has delayed another Bitcoin ETF hopeful this week, this time pushing the deadline back until as late as August.

Published

on

In brief

  • The SEC has again delayed the VanEck Bitcoin Trust filing, this time asking the public several key questions about the market.
  • An approved Bitcoin ETF has been heralded as a key milestone for the leading cryptocurrency.

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on VanEck’s Bitcoin exchange-traded fund (ETF), called the VanEck Bitcoin Trust. 

This is the second time this week that the Commission has pushed back a decision on a Bitcoin ETF. On June 15, the SEC postponed its decision on Kryptoin’s ETF filing.

The SEC has yet to approve any Bitcoin ETF, with chairpeople frequently citing manipulation and a lack of transparency in the crypto market as key reasons. A Bitcoin ETF has been heralded as crucial for the continued acceptance of the asset class. It would offer traditional investors less familiar with cryptocurrencies a regulated and conventional means of gaining exposure to Bitcoin. 

On this occasion, the SEC has also asked the public to comment on several key questions related to the VanEck filing. 

The Commission asks whether the filing would be vulnerable to manipulation; if the public believes the cryptocurrency industry has changed since 2016; if VanEck’s filing has curtailed any possibility of manipulation; and if Bitcoin is transparent.

The public has the next 20 days to file any comments on the above. Commenters can make submissions electronically via the Commission’s portal. Post and email are also accepted means, according to the SEC.

VanEck’s Bitcoin ETF journey

VanEck’s first filing came in June 2018 with its VanEck SolidX Bitcoin trust. The company eventually withdrew this filing in September 2019. 

The New York-based investment manager refiled a new application in December 2020, called the VanEck Bitcoin Trust. In March 2021, VanEck then proposed an amendment to the filing. 

The SEC delayed this filing in April 2021, according to a statement from the Commission. Yesterday’s announcement is the second delay of the same filing.

The VanEck Bitcoin Trust would trade shares that reflect the performance of the MVIS CryptoCompare Bitcoin Benchmark Rate. This rate is a U.S. dollar value that tracks the median price of Bitcoin across five exchanges. These kinds of price aggregators are often used whenever a fund manager or exchange is looking to build a financial product and needs a reliable price tracker. 

Shares of the trust would trade on the Cboe BZX Exchange, according to the filing. The filing did not cite a specific custodian that would hold the underlying Bitcoin in the Trust. 

Though many have said 2021 would be the year the SEC approves a Bitcoin ETF, the Commission continues to proceed with extreme caution. 

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://decrypt.co/73817/sec-delays-vaneck-bitcoin-etf-application-again

Continue Reading

Blockchain

SEC Delays VanEck Bitcoin ETF Application—Again

The SEC has delayed another Bitcoin ETF hopeful this week, this time pushing the deadline back until as late as August.

Published

on

In brief

  • The SEC has again delayed the VanEck Bitcoin Trust filing, this time asking the public several key questions about the market.
  • An approved Bitcoin ETF has been heralded as a key milestone for the leading cryptocurrency.

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on VanEck’s Bitcoin exchange-traded fund (ETF), called the VanEck Bitcoin Trust. 

This is the second time this week that the Commission has pushed back a decision on a Bitcoin ETF. On June 15, the SEC postponed its decision on Kryptoin’s ETF filing.

The SEC has yet to approve any Bitcoin ETF, with chairpeople frequently citing manipulation and a lack of transparency in the crypto market as key reasons. A Bitcoin ETF has been heralded as crucial for the continued acceptance of the asset class. It would offer traditional investors less familiar with cryptocurrencies a regulated and conventional means of gaining exposure to Bitcoin. 

On this occasion, the SEC has also asked the public to comment on several key questions related to the VanEck filing. 

The Commission asks whether the filing would be vulnerable to manipulation; if the public believes the cryptocurrency industry has changed since 2016; if VanEck’s filing has curtailed any possibility of manipulation; and if Bitcoin is transparent.

The public has the next 20 days to file any comments on the above. Commenters can make submissions electronically via the Commission’s portal. Post and email are also accepted means, according to the SEC.

VanEck’s Bitcoin ETF journey

VanEck’s first filing came in June 2018 with its VanEck SolidX Bitcoin trust. The company eventually withdrew this filing in September 2019. 

The New York-based investment manager refiled a new application in December 2020, called the VanEck Bitcoin Trust. In March 2021, VanEck then proposed an amendment to the filing. 

The SEC delayed this filing in April 2021, according to a statement from the Commission. Yesterday’s announcement is the second delay of the same filing.

The VanEck Bitcoin Trust would trade shares that reflect the performance of the MVIS CryptoCompare Bitcoin Benchmark Rate. This rate is a U.S. dollar value that tracks the median price of Bitcoin across five exchanges. These kinds of price aggregators are often used whenever a fund manager or exchange is looking to build a financial product and needs a reliable price tracker. 

Shares of the trust would trade on the Cboe BZX Exchange, according to the filing. The filing did not cite a specific custodian that would hold the underlying Bitcoin in the Trust. 

Though many have said 2021 would be the year the SEC approves a Bitcoin ETF, the Commission continues to proceed with extreme caution. 

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://decrypt.co/73817/sec-delays-vaneck-bitcoin-etf-application-again

Continue Reading

Blockchain

SEC Delays VanEck Bitcoin ETF Application—Again

The SEC has delayed another Bitcoin ETF hopeful this week, this time pushing the deadline back until as late as August.

Published

on

In brief

  • The SEC has again delayed the VanEck Bitcoin Trust filing, this time asking the public several key questions about the market.
  • An approved Bitcoin ETF has been heralded as a key milestone for the leading cryptocurrency.

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on VanEck’s Bitcoin exchange-traded fund (ETF), called the VanEck Bitcoin Trust. 

This is the second time this week that the Commission has pushed back a decision on a Bitcoin ETF. On June 15, the SEC postponed its decision on Kryptoin’s ETF filing.

The SEC has yet to approve any Bitcoin ETF, with chairpeople frequently citing manipulation and a lack of transparency in the crypto market as key reasons. A Bitcoin ETF has been heralded as crucial for the continued acceptance of the asset class. It would offer traditional investors less familiar with cryptocurrencies a regulated and conventional means of gaining exposure to Bitcoin. 

On this occasion, the SEC has also asked the public to comment on several key questions related to the VanEck filing. 

The Commission asks whether the filing would be vulnerable to manipulation; if the public believes the cryptocurrency industry has changed since 2016; if VanEck’s filing has curtailed any possibility of manipulation; and if Bitcoin is transparent.

The public has the next 20 days to file any comments on the above. Commenters can make submissions electronically via the Commission’s portal. Post and email are also accepted means, according to the SEC.

VanEck’s Bitcoin ETF journey

VanEck’s first filing came in June 2018 with its VanEck SolidX Bitcoin trust. The company eventually withdrew this filing in September 2019. 

The New York-based investment manager refiled a new application in December 2020, called the VanEck Bitcoin Trust. In March 2021, VanEck then proposed an amendment to the filing. 

The SEC delayed this filing in April 2021, according to a statement from the Commission. Yesterday’s announcement is the second delay of the same filing.

The VanEck Bitcoin Trust would trade shares that reflect the performance of the MVIS CryptoCompare Bitcoin Benchmark Rate. This rate is a U.S. dollar value that tracks the median price of Bitcoin across five exchanges. These kinds of price aggregators are often used whenever a fund manager or exchange is looking to build a financial product and needs a reliable price tracker. 

Shares of the trust would trade on the Cboe BZX Exchange, according to the filing. The filing did not cite a specific custodian that would hold the underlying Bitcoin in the Trust. 

Though many have said 2021 would be the year the SEC approves a Bitcoin ETF, the Commission continues to proceed with extreme caution. 

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://decrypt.co/73817/sec-delays-vaneck-bitcoin-etf-application-again

Continue Reading

Blockchain

SEC Delays VanEck Bitcoin ETF Application—Again

The SEC has delayed another Bitcoin ETF hopeful this week, this time pushing the deadline back until as late as August.

Published

on

In brief

  • The SEC has again delayed the VanEck Bitcoin Trust filing, this time asking the public several key questions about the market.
  • An approved Bitcoin ETF has been heralded as a key milestone for the leading cryptocurrency.

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on VanEck’s Bitcoin exchange-traded fund (ETF), called the VanEck Bitcoin Trust. 

This is the second time this week that the Commission has pushed back a decision on a Bitcoin ETF. On June 15, the SEC postponed its decision on Kryptoin’s ETF filing.

The SEC has yet to approve any Bitcoin ETF, with chairpeople frequently citing manipulation and a lack of transparency in the crypto market as key reasons. A Bitcoin ETF has been heralded as crucial for the continued acceptance of the asset class. It would offer traditional investors less familiar with cryptocurrencies a regulated and conventional means of gaining exposure to Bitcoin. 

On this occasion, the SEC has also asked the public to comment on several key questions related to the VanEck filing. 

The Commission asks whether the filing would be vulnerable to manipulation; if the public believes the cryptocurrency industry has changed since 2016; if VanEck’s filing has curtailed any possibility of manipulation; and if Bitcoin is transparent.

The public has the next 20 days to file any comments on the above. Commenters can make submissions electronically via the Commission’s portal. Post and email are also accepted means, according to the SEC.

VanEck’s Bitcoin ETF journey

VanEck’s first filing came in June 2018 with its VanEck SolidX Bitcoin trust. The company eventually withdrew this filing in September 2019. 

The New York-based investment manager refiled a new application in December 2020, called the VanEck Bitcoin Trust. In March 2021, VanEck then proposed an amendment to the filing. 

The SEC delayed this filing in April 2021, according to a statement from the Commission. Yesterday’s announcement is the second delay of the same filing.

The VanEck Bitcoin Trust would trade shares that reflect the performance of the MVIS CryptoCompare Bitcoin Benchmark Rate. This rate is a U.S. dollar value that tracks the median price of Bitcoin across five exchanges. These kinds of price aggregators are often used whenever a fund manager or exchange is looking to build a financial product and needs a reliable price tracker. 

Shares of the trust would trade on the Cboe BZX Exchange, according to the filing. The filing did not cite a specific custodian that would hold the underlying Bitcoin in the Trust. 

Though many have said 2021 would be the year the SEC approves a Bitcoin ETF, the Commission continues to proceed with extreme caution. 

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://decrypt.co/73817/sec-delays-vaneck-bitcoin-etf-application-again

Continue Reading
ACN Newswire30 mins ago

Singapore’s Commodities Intelligence Centre Signs Investment Agreement to Establish Its Overseas Digital Trade Platform in Chongqing’s Guoyuan Port

Blockchain32 mins ago

SEC Delays VanEck Bitcoin ETF Application—Again

Blockchain32 mins ago

SEC Delays VanEck Bitcoin ETF Application—Again

Blockchain32 mins ago

SEC Delays VanEck Bitcoin ETF Application—Again

Blockchain32 mins ago

SEC Delays VanEck Bitcoin ETF Application—Again

HRTech33 mins ago

Lockdown ease delay: 5 final preparations to make this month

Blockchain35 mins ago

Top Economist Steve Hanke Calls El Salvador’s Bitcoin Adoption Decision Stupid

Blockchain35 mins ago

Top Economist Steve Hanke Calls El Salvador’s Bitcoin Adoption Decision Stupid

Blockchain35 mins ago

Top Economist Steve Hanke Calls El Salvador’s Bitcoin Adoption Decision Stupid

HRTech35 mins ago

Employers not doing enough to nurture female talent

Blockchain35 mins ago

Top Economist Steve Hanke Calls El Salvador’s Bitcoin Adoption Decision Stupid

Blockchain36 mins ago

World Bank Shuns El Salvador Bitcoin Adoption Plan

Blockchain36 mins ago

World Bank Shuns El Salvador Bitcoin Adoption Plan

Blockchain36 mins ago

World Bank Shuns El Salvador Bitcoin Adoption Plan

Blockchain36 mins ago

World Bank Shuns El Salvador Bitcoin Adoption Plan

Blockchain37 mins ago

John McAfee Admits His Cryptocurrency Fortune is Gone but He Regrets Nothing

Blockchain37 mins ago

John McAfee Admits His Cryptocurrency Fortune is Gone but He Regrets Nothing

Blockchain37 mins ago

John McAfee Admits His Cryptocurrency Fortune is Gone but He Regrets Nothing

Blockchain37 mins ago

John McAfee Admits His Cryptocurrency Fortune is Gone but He Regrets Nothing

HRTech37 mins ago

A year in lockdown: How employee benefits have changed

Blockchain38 mins ago

DAO1 Announces the First Edition of its International Blockchain Hackathon

Blockchain38 mins ago

DAO1 Announces the First Edition of its International Blockchain Hackathon

Blockchain38 mins ago

DAO1 Announces the First Edition of its International Blockchain Hackathon

Blockchain38 mins ago

DAO1 Announces the First Edition of its International Blockchain Hackathon

Blockchain39 mins ago

Ethereum Layer 2 Protocol Metis Launched its Second Testnet

Blockchain39 mins ago

Ethereum Layer 2 Protocol Metis Launched its Second Testnet

Blockchain39 mins ago

Ethereum Layer 2 Protocol Metis Launched its Second Testnet

Blockchain39 mins ago

GMO Enters NFT Business Forming a New Joint Venture

Blockchain39 mins ago

GMO Enters NFT Business Forming a New Joint Venture

Blockchain39 mins ago

GMO Enters NFT Business Forming a New Joint Venture

Trending