{"id":367354,"date":"2021-11-15T20:37:22","date_gmt":"2021-11-15T17:37:22","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/law-decoded-crypto-cities-investor-protection-nation-nov-8-15\/"},"modified":"2021-11-15T20:37:22","modified_gmt":"2021-11-15T17:37:22","slug":"law-decoded-crypto-cities-investor-protection-nation-nov-8-15","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/law-decoded-crypto-cities-investor-protection-nation-nov-8-15\/","title":{"rendered":"# Law Decoded: Crypto cities, investor protection nation, Nov. 8\u201315"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4113c9e737c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4113c9e737c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-crypto-cities-investor-protection-nation-nov-8-15\/#Spot_Bitcoin_ETF_denied\" >Spot Bitcoin ETF denied<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-crypto-cities-investor-protection-nation-nov-8-15\/#Commissioner_Crenshaw_on_DeFi\" >Commissioner Crenshaw on DeFi<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-crypto-cities-investor-protection-nation-nov-8-15\/#CBDC_watch\" >CBDC watch<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Law Decoded: Crypto cities, investor protection nation, Nov. 8\u201315 <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTEvZWQ4NzBkMDYtMWEzMy00MWZlLTgxOTgtMGZhMWVjYWYxMzZiLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>As the U.S. federal government \u2014 acting through its Securities and Exchange Commission \u2014 continues to valiantly protect investors and the public interest from the grave dangers of a spot Bitcoin exchange-traded fund, one major American city after another begin embracing or at least exploring the potential of crypto and blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> to improve various aspects of city finance, administration and residents\u2019 monetary well-being. Following the lead of Miami, New York, Tampa and Jackson, Tennessee, it is now Philadelphia that is looking into the ways to implement blockchain solutions in city government.<\/p>\n<p>The hope is that a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of city governments\u2019 successful ventures into the crypto space will eventually make the federal government adopt a more \u201cmunicipal\u201d perspective.<\/p>\n<p>Below is the concise version of the latest \u201cLaw Decoded\u201d <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letter. For the full breakdown of policy developments over the last week, register for the full newsletter below.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Spot_Bitcoin_ETF_denied\"><\/span>Spot Bitcoin ETF denied<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Last Friday, following two deadline extensions, the SEC formally dis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roved asset manager VanEck\u2019s spot Bitcoin exchange-traded fund application that was first filed in March 2021. The regulator maintained that the applicant failed to demonstrate the existence of a \u201ccomprehensive surveillance-sharing agreement with a regulated market of significant size related to the underlying or reference Bitcoin assets,\u201d which is essential for preventing manipulation and fraud.<\/p>\n<p>In the SEC\u2019s view, surveillance-sharing is sufficient in the case of the Chicago Mercantile Exchange\u2019s BTC futures market but is not up to standard when it comes to spot markets that underlie the bulk of CME\u2019s Bitcoin futures\u2019 pricing. A recent letter from Representatives Emmer and Soto highlights the limitations of the agency\u2019s argument well.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Commissioner_Crenshaw_on_DeFi\"><\/span>Commissioner Crenshaw on DeFi<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>In an article published in the <em>International Journal of Blockchain Law<\/em>, SEC Commissioner Caroline Crenshaw has shared her thinking on some of the regulatory issues around the domain of decentralized finance. On the most fundamental level, she believes that DeFi products may be securities and should be viewed according to applicable securities laws.<\/p>\n<p>The commissioner\u2019s key thesis comes down to the need for DeFi market participants to come forward and voluntarily comply with securities laws, specifically those around risk disclosure. She also warned that those who fail to comply could become subject to the SEC enforcement action and incur heavy penalties.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"CBDC_watch\"><\/span>CBDC watch<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>People\u2019s Bank of China governor Yi Gang discussed the plans for the digital yuan\u2019s cross-border expansion, while the managing director of the Monetary Authority of Singapore revealed a strong retail focus of the nation\u2019s prospective CBDC. Over in Russia, an updated timeline for the release of the digital ruble trial was revealed, with a prototype platform expected to be ready for testing by early 2022. Concurrently, Russian lawmakers have begun preparing the legislative base for the digital currency\u2019s nationwide adoption. Meanwhile, the Bank of England gave itself ample time to consider all the pros and cons of implementing the digital pound, marking \u201cthe second half of the decade\u201d as the earliest time for the possible launch.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/law-decoded-crypto-cities-investor-protection-nation-nov-8-15\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Law Decoded: Crypto cities, investor protection nation, Nov. 8\u201315 &#8221; As the U.S. federal government \u2014 acting through its Securities and Exchange Commission \u2014 continues to valiantly protect investors and the public interest from the grave dangers of a spot Bitcoin exchange-traded fund, one major American city after another begin embracing or at least&#8230;<\/p>\n","protected":false},"author":1,"featured_media":367355,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTEvZWQ4NzBkMDYtMWEzMy00MWZlLTgxOTgtMGZhMWVjYWYxMzZiLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74858,75046,74863,74898,3885,70934,8575],"class_list":["post-367354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-regulation","tag-cbdc","tag-cryptocurrencies","tag-sec","tag-new-york","tag-regulation","tag-usa"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/367354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=367354"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/367354\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/367355"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=367354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=367354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=367354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}