SEC Rejects Two Spot Bitcoin ETF Applications – December 23

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $49,143

Bitcoin price is holding around $49,000 again, following a retest of the $48,000 mark overnight.

Top-20 altcoins have cooled off a little, with Ethereum once again unchanged, Cardano gaining 4% and Uniswap standing out with a 14% gain.

Top Stories for December 23, 2021 πŸ”₯

πŸ‘‰ SEC Rejects Two Spot Bitcoin ETF Applications

The Securities and Exchange Commission (SEC) has rejected spot exchange-traded fund (ETF) applications by Valkyrie and Kryptoin, citing the same reasoning it has used against similar applications in the past.

According to the SEC, both applications were not adequately designed to prevent “fraudulent and manipulative acts and practices” to protect investors.

The products, which would be “physically” backed by Bitcoin, differ from futures-based ETFs that were approved earlier this year.

πŸ‘‰ SWIFT To Explore Asset Tokenization In 2022

The Society for Worldwide Interbank Financial Telecommunication, known to most as “SWIFT”, is exploring how to play a role in asset tokenization via trials in 2022.

The organization is teaming up with Clearstream, Northern Trust, SETL and others to connect several asset-tokenizing platforms, to improve issuance, delivery versus payment and redemption processes.

πŸ‘‰ Telegram CEO Backs TON Blockchain Spinoff

Telegram CEO Pavel Durov has publicly endorsed a spinoff of the company’s attempted TON blockchain project, via a post on his official Telegram channel.

The spinoff project, Toncoin, is based on the original blockchain’s open-source code and is community-led. The original project was shut down in 2020 following an eight-month legal dispute with the SEC.