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SEC Postpones VanEck’s Bitcoin ETF Application to June

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Those who had been anticipating a decision on the Bitcoin exchange-traded fund (ETF) application from VanEck may have to wait longer to get an answer.

The United States Securities and Exchange Commission (SEC) has exercised its right and has postponed its scheduled decision on VanEck’s ETF application from May 3rd to June 17 according to a filing released by the commission on Wednesday.

VanEck has been at the forefront of pursuing a Bitcoin ETF product in the United States. The company’s push has been ill-favoured as the US has rejected every ETF application submitted before it prior to this time. VanEck reapplied back in March, and the SEC responded, making a case that it needed more time to review the application.

“The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the comments received,” said SEC Assistant Secretary J. Matthew DeLesDernier in the filing.

The SEC altogether can postpone the review process to up to 240 days, and if this extended timeline is applied to VanEck, the company may not be getting a definitive answer until mid-November.

The Case for a Bitcoin ETF

There are more than 8 Bitcoin ETF applications awaiting approval from the SEC. Amongst the notable firms that have sent in their application include Fidelity investments which also filed its application back in March. 

As the price of Bitcoin has grown remarkably this year, and institutional funds continue to flow into the digital asset, market stakeholders are pressing on the SEC to soften its stance and introduce exchange-traded fund products in the US. This will boost further mainstream adoption of cryptocurrency and push for better regulations for the industry, says market stakeholders.

While Canada has outpaced the US in its Bitcoin ETF approvals, many anticipate that with Gary Gensler as the new SEC Chairman, cryptocurrency regulations may be reshaped and addressed quicker.

Image source: Shutterstock Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://Blockchain.News/news/sec-postpones-vanecks-bitcoin-etf-application-june

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Internet Computer: The new cryptocurrency has risen in just 3 days

TL;DR Breakdown • Internet Computer is ranked 9 among the best decentralization currencies.• Internet Computer tries to configure smart contracts by Hardware. Internet Computer is the new cryptocurrency that came out last Monday and with an amazing rising value. According to CoinMarketCap, the decentralized coin has reached a market capitalization of $35.8 billion in just […]

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TL;DR Breakdown

• Internet Computer is ranked 9 among the best decentralization currencies.
• Internet Computer tries to configure smart contracts by Hardware.

Internet Computer is the new cryptocurrency that came out last Monday and with an amazing rising value. According to CoinMarketCap, the decentralized coin has reached a market capitalization of $35.8 billion in just a few hours.

On Monday, the crypto’s market value rose to over $90 billion, with an approximate value of $731. But in minutes, it had a decrease in its price, reaching $18 billion, with a value of approximately $146.

Dfinity Foundation is the creator of Internet Computer and has the goal of turning cryptocurrency into a volatile version of the internet. The cryptocurrency blockchain uses smart contracts to its advantage, much like Ethereum technology. With this working mechanism, the founders of the token improve many platforms and mobile applications.

For example, new decentralized applications can be formed with DeFi. DeFi Apps create a classic financial scheme with cryptocurrencies. Programmers can even make websites and other things on the internet with the cryptocurrency blockchain.

Unlike Ethereum, the Internet Computer has a faster and more affordable blockchain for developers. The configuration of the cryptocurrency optimizes the outdated Ether technology, which is good news.

Internet Computer and its promotion to new DeFi configurations

Internet Computer

According to a statement made by Dominic Williams, head of the Dfinity Foundation, Internet Computer has a blockchain other than Ether. This blockchain network is not run by the cloud but uses a more complex hardware system. The configuration to enter DeFi will be more demanding on the first try but is expected to be very stable after completing it.

This expert points out that the blockchain network will work at the same speed as the internet. With this classic configuration, you can avoid many problems and give a better fit to the DeFi.

Williams also says that the Internet Computer is useful to old-fashioned developers. Many big-name companies and small entrepreneurs can use the hardware without a problem.

Internet Computer scheme on the rise

This cryptocurrency scheme is on the rise, raising around $120 million. The prominent investors are Polychain Capital and Andreessen Horowitz, who did not hesitate to trust the cryptocurrency.

Since its inception, the cryptocurrency has been very volatile in price, common in the decentralized market. Although the price of crypto sets over time, this cryptocurrency has stiff competition on blockchains for DeFi. This includes the latest statements from Ethereum with its version 2.0 update.

The Internet Computer cryptocurrency is ranked as the 9th most popular decentralized currency. But Ether, the cryptocurrency of Ethereum, is ranked number 2 on the list for its value of $493 billion. The scheme that the Internet computer has looks promising and it only has to overcome the obstacles other blockchains for smart contracts would potentially create.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptopolitan.com/internet-computer-has-risen-in-just-3-days/

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BIC’s Video News Show: Shiba Inu (SHIB)

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In this episode of the BeInCrypto video news show, host Jessica Walker will address Shiba Inu, which has been stealing the spotlight from dogecoin (DOGE). We’ll look at details about its launch, its prospective ecosystem, and recent price movements.

Is Shiba Inu Coin Really a Dogecoin Killer, or is There More to It?

Shiba stealing the spotlight

Dogecoin has now become so big that the world needed a “Dogecoin killer”! The Shiba Inu coin has taken the crypto world by storm in the last several days. Despite Elon Musk announcing a dogecoin mission to the moon on SNL, this other meme coin has stolen the spotlight.

Shiba Inu is up almost 1,500% in the past week, after being listed on Binance and Crypto.com. Everyone seems to think it’s dogecoin 2.0. But could this coin carve out a place for itself among the heavyweights in the crypto world? 

Vitalik owns half

Perhaps the most curious fact about the SHIB coin is that half is owned by Ethereum (ETH) leader Vitalik Buterin. He has nothing to do with the creation of the coin. But he received 50% as a gift from the creators when the coin was launched. This could quite possibly be the biggest gift in human history, as it currently stands at $8.2 billion.

This type of offering is known as an initial DEX Offering where founders release their token via a decentralized exchange. Some tokens launched under Ethereum’s ERC-20 standard, have been known to send Buterin a certain amount of their coin. This is done partially out of respect for his vision but also as a publicity tactic.

Shiba ecosystem

The other 50% of Shiba Inu is on the decentralized Uniswap network and was released through an initial DEX Offering.  It can also be used on ShibaSwap, the project’s decentralized exchange. Here, users can stake their tokens for interest via staking rewards. Shibaswap also has plans to Integrate NFTs into its platform after launch.

All-in-all, there will be three different tokens native to Shiba Inu’s platform. First, Shiba Inu, then LEASH, which supports the staking function. Finally, BONES will act as a governance token.

ShibaSwap was expected to launch at the end of April, but currently there’s no fixed date. But with over 260,000 holders, we’re pretty sure the developers will be working overtime to get things going.

Technical analysis

At the time of recording, we can see that the price is testing a support level but the uptrend is definitely intact. If it keeps going the price could be headed higher to test the record high we saw yesterday, after the coin was added to Binance.

The Shiba Coin and its soon-to-be decentralized exchange, have definitely attracted attention. And as we’ve seen with other cryptocurrencies, community enthusiasm and numbers play a key part in the rise and fall of the project. 

Should ShibaSwap launch while the attention is at its peak, and function as promised, we could see another DeFi player emerge rapidly and push for a place in the top projects by market cap. At the time of the recording, Shiba Inu is in 14th place on Coinmarketcap and has passed the $10 billion threshold.

This rapid growth has of course been seen before and price volatility is expected in the short term. But if its unique selling point of being a cryptocurrency run 100% by its community does materialize, then we could be witnessing the start of something special.

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.

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Nick is a data scientist who teaches economics and communication in Budapest, Hungary, where he received a BA in Political Science and Economics and an MSc in Business Analytics from CEU. He has been writing about cryptocurrency and blockchain technology since 2018, and is intrigued by its potential economic and political usage. He can best be described as an optimistic center-left skeptic.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://beincrypto.com/bics-video-news-show-shiba-inu-shib/

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Crypto.com Gains Class 3 VFA License From Maltese Financial Authorities

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Crypto.com has reportedly become the first cryptocurrency platform ever to get a Class 3 VFA License. A license issued by financial authorities in Malta.

On May 12, Crypto.com posted a tweet stating their pride at this historic moment. They linked to a post on the company blog page, which outlined the license in more detail. The post described the event as “a watershed moment for the cryptocurrency industry.”

The Class 3 Virtual Financial Assets (VFA) License reinforces the relationship between Crypto.com and the Malta Financial Services Authority (MFSA). Now, affording the platform’s users with better protection under a definitive regulatory framework.

Prior to the issuance of this license, the crypto platform had adhered to Malta’s Virtual Financial Assets Act, and worked closely with the MFSA ever since.

A strict set of conditions

The license allows Crypto.com to provide services to users trading at both beginner and expert levels. Services such as executing orders on a trader’s behalf, or serving in the role of dealer on their own account. 

As one of the few countries in the European Union with a clear regulatory framework when it comes to cryptocurrency, the MFSA had a strict set of conditions for Crypto.com to meet before granting the license. Meeting those conditions gives the platform what it describes as “proof of [its] commitment to provide a secure and compliant crypto trading environment.”

Crypto.com is still waiting on a final decision from the MFSA regarding another certification. Namely, a Financial Institution License. The platform received its in-principle approval from the Maltese regulator back in November 2020.

According to Crypto.com’s latest blog post, the final approval over this license, which will allow the platform to issue electronic money and offer payment services, is still being processed.

Malta is not the only relationship Crypto.com has been carefully cultivating recently. The cryptocurrency platform forged a partnership in Italian soccer, last week. A partnership officially launching with the Hong Kong-based exchange sponsoring the Coppa Italia final between Atalanta and Juventus.

While this is by no means a first for Crypto.com in terms of sponsorship deals in sport, their partner, Lega Serie A, expressed pride at being “the first football league to step into the world of cryptocurrency.” A collection of NFTs will commemorate the collaboration. The series will reportedly feature match highlights and the trophy among other things.

Prior to this, Crypto.com has also collaborated with the Aston Martin Cognizant Formula One Team, also with a collection of NFTs. In addition, back in March, they partnered with hockey team The Montreal Canadiens.

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.

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Dale Hurst is a journalist, presenter, and novelist. Before joining the Be In Crypto team, he was an editor and senior journalist at a news, lifestyle and human-interest magazine in the UK.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://beincrypto.com/crypto-com-gains-class-3-vfa-license/

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More Crypto Point-of-Sales Through MoneyGram, Coinme Partnership

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MoneyGram is partnering with Coinme to enable the cash funding and payout of digital currency purchases and sales. 

The partnership will pair MoneyGram’s mobile, API-driven payments platform with Coinme’s proprietary cryptocurrency exchange and custody technology. It will enable thousands of new point-of-sale locations throughout the United States. If successful, the partnership will expand to international markets by the second half of 2021.

“This innovative partnership opens our business to an entirely new customer segment as we are the first to pioneer a crypto-to-cash model by building a bridge with Coinme to connect bitcoin to local fiat currency,” remarked MoneyGram Chairman and CEO Alex Holmes. 

Specially designed for newcomers to cryptocurrencies, the integration is set to provide a convenient way for customers to purchase bitcoin (BTC) with cash and withdraw bitcoin holdings in cash. This could dramatically expand access to bitcoin, as there are currently fewer than 20,000 cryptocurrency kiosks in the world.

“MoneyGram has spent more than 80 years building one of the world’s largest P2P payment networks,” said Neil Bergquist, Coinme CEO. “By integrating its global infrastructure with our licensed crypto exchange technology, we can enable the purchase and sale of cryptocurrencies across its system using cash”.

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

Nick is a data scientist who teaches economics and communication in Budapest, Hungary, where he received a BA in Political Science and Economics and an MSc in Business Analytics from CEU. He has been writing about cryptocurrency and blockchain technology since 2018, and is intrigued by its potential economic and political usage. He can best be described as an optimistic center-left skeptic.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://beincrypto.com/more-crypto-point-of-sales-through-moneygram-coinme-partnership/

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