The managers of the American investment company Blackrock met the Crypto Working Group on Securities and Exchange Commission (SEC) American to discuss various questions relating to the products negotiated on the stock market (ETP) on Friday. This discussion, among other recent developments in the administration of American president Donald Trump, represents the growing American interest in the cryptography industry.
Blackrock and dry speak of marked out in ETF – incoming approval?
According to a note Friday by the SEC, the representatives of Blackrock brought together the agency's crypto working group, led by Commissioner Hester Pierce, to “resolve several questions related to regulations in cryptographic assets”. In particular, the briefing between the two parties spoke of the punishment of ETFs, which has become a major subject of discussion in recent months.
In particular, BlackRock sought to discuss the Commission's point of view on stimulation and the potential to allow negotiated funds on the stock market with stimulation options.
In particular, the New York Stock Exchange (NYSE) submitted a draft rule change in February which will introduce the implementation of the gray levels EETF of trust there and Grayscale and Trust ETF. If the SEC approves this request, the gray levels would be allowed to lock parts of cryptographic assets in its Het Holdings to generate additional income for the trust.
In April, the SEC delayed a decision on this request. Bloomberg analyst James Seyffart previously said that there was a lot of potential for the Commission to hold approval until the final deadline in October, despite the intermediate deadlines in May and August. In addition to Grayscale, the Chicago Board of Exchange (CBOE) also made a similar request for the 21shares Core ETF ETF.
Tokenization, Crypto ETP approval standards, others
In addition to marked out the ETFs, BlackRock and the SEC also conversed on the means of advancing the tokenization of titles in accordance with existing federal laws on securities. In particular, BlackRock offers the Buidl token, which is a monetary market fund which invests in high quality public securities such as cash bills.
In addition, the two parties have also discussed the need for clear standards which determine the rejection or approval of an ETP Crypto, which would also examine the provisions of article 6 of the exchange law which guarantees that ETP trade will only occur on a regulated scholarship. Although this framework is written, BlackRock also proposed the creation of a temporary regulatory system for the activity of ETP transmitters.
The final discussion point between the two parties has explored the requirements to fix positions and exercise limits on the trading options of ETPS Crypto, emphasizing the way in which the liquidity of the underlying assets influences these limits.
In Pretitime, the total cryptography market is estimated at 3.22 billions of dollars after a gain of 1.19% during the last day.
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