In an interview with Roll Call, U.S. Securities and Exchange Commission (SEC) Commissioner Robert J. Jackson Jr. said that he expects an applicant to eventually meet the regulatory requirements for a cryptocurrency-based fund.
"Eventually, do I think someone will satisfy the standards that we've laid out there? I hope so, yes, and I think so," Jackson said, per Roll Call.
So far, several attempts to list an exchange-traded fund based on Bitcoin have not been approved. But many believe that such a service could garner mainstream investment.
The Financial Crimes Enforcement Network (FinCEN) has assessed a civil money penalty against a peer-to-peer bitcoin trader for violating anti-money laundering (AML) regulations, its first enforcement action against a cryptocurrency exchanger. According to the agency, the exchanger failed to register as a money services business and failed to report "suspicious transactions," among other violations. The exchanger has been assessed a $35,000 fine and is now prohibited from providing money transmission services.
The Enterprise Ethereum Alliance has announced a "Token Taxonomy Initiative" to develop universal definitions for tokens to encourage their interchangeability across blockchain platforms. Members of the initiative include Microsoft, R3, ConsenSys, IBM, EY, Accenture and Intel.
Gemini Trust, a New York-based cryptocurrency exchange, has announced support for Segregated Witness (SegWit) addresses and transaction batching. As a result, customers can now use SegWit addresses for bitcoin deposits and withdrawals, ideally improving processing times and lowering bitcoin withdrawal fees.