{"id":414432,"date":"2022-03-10T21:54:00","date_gmt":"2022-03-10T18:54:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/distributed-ledger-heres-what-the-crypto-industry-is-looking-for-as-federal-agencies-draft-policy\/"},"modified":"2022-03-10T21:54:00","modified_gmt":"2022-03-10T18:54:00","slug":"distributed-ledger-heres-what-the-crypto-industry-is-looking-for-as-federal-agencies-draft-policy","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/distributed-ledger-heres-what-the-crypto-industry-is-looking-for-as-federal-agencies-draft-policy\/","title":{"rendered":"#Distributed Ledger: Here\u2019s what the crypto industry is looking for as federal agencies draft policy"},"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-6a417e0fa7a41\" 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-6a417e0fa7a41\" 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-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/distributed-ledger-heres-what-the-crypto-industry-is-looking-for-as-federal-agencies-draft-policy\/#%E2%80%9CDistributed_Ledger_Heres_what_the_crypto_industry_is_looking_for_as_federal_agencies_draft_policy%E2%80%9D\" >&#8220;Distributed Ledger: Here\u2019s what the crypto industry is looking for as federal agencies draft policy&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/distributed-ledger-heres-what-the-crypto-industry-is-looking-for-as-federal-agencies-draft-policy\/#%E2%80%98I_dont_think_you_can_expect_everything_to_be_detailed_right_out_of_the_gate_one_lawyer_says\" >\u2018I don\u2019t think you can expect everything to be detailed right out of the gate,\u2019 one lawyer says.<\/a><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/distributed-ledger-heres-what-the-crypto-industry-is-looking-for-as-federal-agencies-draft-policy\/#Crypto_in_a_snap\" >Crypto in a snap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/distributed-ledger-heres-what-the-crypto-industry-is-looking-for-as-federal-agencies-draft-policy\/#Crypto_Metrics\" >Crypto Metrics<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/distributed-ledger-heres-what-the-crypto-industry-is-looking-for-as-federal-agencies-draft-policy\/#Executive_order\" >Executive order<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/distributed-ledger-heres-what-the-crypto-industry-is-looking-for-as-federal-agencies-draft-policy\/#What_tokens_are_securities\" >What tokens are securities?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/buradabiliyorum.com\/en\/distributed-ledger-heres-what-the-crypto-industry-is-looking-for-as-federal-agencies-draft-policy\/#A_spot_bitcoin_ETF\" >A spot bitcoin ETF?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/buradabiliyorum.com\/en\/distributed-ledger-heres-what-the-crypto-industry-is-looking-for-as-federal-agencies-draft-policy\/#Crypto_companies_funds\" >Crypto companies, funds<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/buradabiliyorum.com\/en\/distributed-ledger-heres-what-the-crypto-industry-is-looking-for-as-federal-agencies-draft-policy\/#Must_Reads\" >Must Reads<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/buradabiliyorum.com\/en\/distributed-ledger-heres-what-the-crypto-industry-is-looking-for-as-federal-agencies-draft-policy\/#Frances_Yue\" >Frances Yue<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CDistributed_Ledger_Heres_what_the_crypto_industry_is_looking_for_as_federal_agencies_draft_policy%E2%80%9D\"><\/span>&#8220;Distributed Ledger: Here\u2019s what the crypto industry is looking for as federal agencies draft policy&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"%E2%80%98I_dont_think_you_can_expect_everything_to_be_detailed_right_out_of_the_gate_one_lawyer_says\"><\/span>\n  \u2018I don\u2019t think you can expect everything to be detailed right out of the gate,\u2019 one lawyer says.<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000686419\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000686419\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Hello! Welcome back to Distributed Ledger, our weekly crypto <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letter that reaches your inbox every Thursday. I\u2019m Frances Yue, crypto reporter at MarketWatch, and I\u2019ll walk you through the latest and greatest in digital assets this week so far. <\/p>\n<p> Find me on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> at <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/FrancesYue_\" class=\"icon none\">@FrancesYue_<\/a> to send feedback or tell us what you think we should cover. <\/p>\n<div class=\"paywall\">\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetButton\n            inline\n  article__inset\n          article__inset--type-InsetButton\n            article__inset--inline\n  \"><\/p>\n<p>               Subscribe Here to Distributed Ledger <\/p><\/div>\n<h6><span class=\"ez-toc-section\" id=\"Crypto_in_a_snap\"><\/span><strong>Crypto in a snap<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>Bitcoin<br \/>\n        BTCUSD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/31322028\/realtime\" class=\"negative\">-6.46%<\/bg-quote><br \/>\n       logged a 5.9% loss over the past seven days, recently trading at around $39,196, according to CoinDesk data. Ether<br \/>\n        ETHUSD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/108573964\/realtime\" class=\"negative\">-4.03%<\/bg-quote><br \/>\n       declined 7.8% over the seven-day stretch to around $2,600. Meme token Dogecoin<br \/>\n        DOGEUSD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/226077044\/realtime\" class=\"negative\">-3.91%<\/bg-quote><br \/>\n       is down 9%, while another dog-<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\">theme<\/a>d token Shiba Inu<br \/>\n        SHIBUSD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/231473891\/realtime\" class=\"\">-4.39<\/bg-quote><br \/>\n       is trading 9% lower from seven days ago. <\/p>\n<h6><span class=\"ez-toc-section\" id=\"Crypto_Metrics\"><\/span><strong>Crypto Metrics<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<table>\n<tbody>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      <strong>Biggest Gainers<\/strong><\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      <strong>Price<\/strong><\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      <strong>% 7-day return<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr class=\"data even\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Waves<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      $28.41<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      57.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Synthetix Network Token<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      $4.45<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      11.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data even\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Terra<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      $101.65<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      10.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Zcash <\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      $141.05<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      10.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data even\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Arweave<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      $33.42<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      5.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      <\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      <\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      <em>Source: CoinGecko as of <\/em>March 10<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table>\n<tbody>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      <strong>Biggest Decliners<\/strong><\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      <strong>Price<\/strong><\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      <strong><strong>% 7-day return<\/strong><\/strong><\/p>\n<\/td>\n<\/tr>\n<tr class=\"data even\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Fantom <\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      $1.27<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      -36.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Frax Share<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      $17.01<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      -27.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data even\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Convex Finance<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      $16.24<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      -23.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Humans.ai<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      $0.09<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      -22.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data even\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Harmony <\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      $0.13<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      -22.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      <\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      <\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      <em>Source: Coin<\/em>Gecko as of March 10<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h6><span class=\"ez-toc-section\" id=\"Executive_order\"><\/span>Executive order<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>President Joe Biden signed an executive order on Wednesday requiring federal agencies to engage in a broad review of their policies related to cryptocurrencies and other digital assets.\u00a0<\/p>\n<p>The order focuses on six priorities for the Biden administration in the digital asset space, including consumer protection, financial stability, illicit finance, economic competitiveness, financial inclusion and innovation, and will give agencies time ranging from 90 days to a year to formulate policy recommendations, MarketWatch\u2019s Chris Matthews reported.\u00a0<\/p>\n<p>Though some industry participants applauded the executive order as a \u201cwatershed moment,\u201d as they believe that it points to more regulatory clarity and will encourage mainstream adoption of crypto, some noted that it is only the first step in a \u201clong and complex policy-making journey.\u201d\u00a0<\/p>\n<p>\u201cI don\u2019t think you can expect everything to be detailed right out of the gate,\u201d Aaron Cutler, partner at law firm Hogan Lovells said in an interview.<\/p>\n<p>Grant McCarty, co-founder of think tank Bitcoin Policy Institute, echoed the point. \u201cThere\u2019s actually remarkably little concrete action that is being taken to regulate cryptocurrencies within this executive order,\u201d McCarty said. \u201cAs far as we can tell, it\u2019s simply a call to take this very seriously, and a call for the government to work in coordination across many different sectors to ensure that cryptocurrency is regulated properly.\u201d<\/p>\n<h6><span class=\"ez-toc-section\" id=\"What_tokens_are_securities\"><\/span>What tokens are securities? <span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>As the crypto industry awaits more detailed policy recommendations, some hope to gain more clarity on what cryptocurrencies are deemed to be securities by regulatory authorities.\u00a0<\/p>\n<p>A lawsuit filed by the U.S. Securities and Exchange Commission against Ripple Labs Inc. toward the end of the Trump administration claimed the platform violated investor-protection laws, but <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/crypto-industry-hopes-looming-legal-brawl-will-thwart-secs-regulation-push-11643724002?mod=article_inline\" class=\"icon none\">it remains unresolved<\/a>. The regulator said Ripple didn\u2019t register the cryptocurrency XRP it launched as a security offering, while the company makes the case that the crypto is used for international payment and doesn\u2019t fall into the SEC\u2019s jurisdiction.<\/p>\n<p>Meanwhile, William Hinman, former SEC corporation finance director said in 2018 that <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/ether-shouldnt-be-subject-to-sec-regulation-official-says-1528993984?mod=article_inline&amp;mod=article_inline\" class=\"icon none\">ether isn\u2019t a security<\/a>.<\/p>\n<p>The SEC has been classifying tokens into utility tokens and security tokens through \u201ca rather coarse way,\u201d according to Will Cong, professor at Cornell University.\u00a0<\/p>\n<p>Cong recommends classifying cryptocurrencies according to their economic functionality, and then determining specific regulations. Tokens can be divided into four categories including <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> payment tokens, platform tokens, ownership or product tokens and cash-flow tokens, Cong <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/abs\/pii\/S0304405X21004414\" class=\"icon none\">noted in his research<\/a>. <\/p>\n<p>Bitcoin and stablecoin Tether<br \/>\n        USDTUSD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/226258617\/realtime\" class=\"\"><\/bg-quote><br \/>\n       fall into the category of general payments token, according to Cong. Platform tokens, such as Filecoin<br \/>\n        FILUSD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/226472418\/realtime\" class=\"negative\">-4.71%<\/bg-quote><br \/>\n       and Chainlink<br \/>\n        LINKUSD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/226259543\/realtime\" class=\"negative\">-4.61%<\/bg-quote><span>,<\/span><br \/>\n       are used as local means of payment on platforms that provide certain services or functions. Nonfungible tokens, or NFTs, belong to the basket of ownership tokens. <\/p>\n<p>Cash-flow tokens, which entitle the holder to certain rights to future cash flows from a business, are \u201cwhat regulators or practitioners typically have in mind when they talk about security tokens,\u201d Cong said. \u201cSuch tokens are essentially security contracts and should be properly regulated under security law,\u201d Cong said. <\/p>\n<h6><span class=\"ez-toc-section\" id=\"A_spot_bitcoin_ETF\"><\/span><strong>A<\/strong> <strong>spot bitcoin ETF?\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>The executive order has also raised hope for some to see the approval of a spot bitcoin exchange-traded fund. It \u201cnow seems much more likely,\u201d Mikkel Morch, executive director at crypto hedge fund ARK36, wrote in an email.<\/p>\n<p>Since October, the SEC has approved trading of several ETFs based on bitcoin futures, but hasn\u2019t yet approved any applications for ETFs that are tied to physical bitcoin, citing concerns about fraud and manipulation.\u00a0 <\/p>\n<p>\u201cI\u2019m not sure if [the executive order] is going to directly affect their decision,\u201d Alexander Kravets, chief executive at crypto exchange Symbridge told MarketWatch in an interview. \u201cBut I think creating more transparency around trading will provide a better path for that in the medium-term future, because there\u2019ll be more certainty around the asset class.\u201d<\/p>\n<p>At least, \u201cthere will be more regulation around how crypto trades and more controls over market manipulation,\u201d Kravets said.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Crypto_companies_funds\"><\/span>Crypto companies, funds<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>Shares of <strong>Coinbase Global Inc<\/strong>.<br \/>\n        COIN,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/225893452\/composite\" class=\"negative\">-4.29%<\/bg-quote><br \/>\n       traded down 5% to $170.12 Thursday afternoon. It was down 4.4% for the past five trading sessions. Michael Saylor\u2019s <strong>MicroStrategy Inc. <\/strong><br \/>\n        MSTR,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202561856\/composite\" class=\"negative\">-5.88%<\/bg-quote><br \/>\n       declined 6% on Thursday to $410.24, while it has lost 4.3% over the past five days.<\/p>\n<p>Mining company<strong> Riot Blockchain Inc. <\/strong><br \/>\n        RIOT,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209538617\/composite\" class=\"negative\">-2.43%<\/bg-quote><br \/>\n       shares are down 3% to $16.32, while it was up 2.1% over the past five days. Shares of <strong>Marathon Digital Holdings Inc.<\/strong><br \/>\n        MARA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/205886758\/composite\" class=\"negative\">-5.26%<\/bg-quote><br \/>\n       slumped 6.4% to $24.04, with a 2.5% loss over the past five days. Another miner, <strong>Ebang International Holdings Inc.<\/strong><br \/>\n        EBON,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/219243771\/composite\" class=\"negative\">-6.30%<\/bg-quote><span>,<\/span><br \/>\n       traded 6.3% lower at $1.12, with a 6.3% loss over the past five days.<\/p>\n<p><strong>Overstock.com Inc.<\/strong><br \/>\n        OSTK,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200022359\/composite\" class=\"negative\">-3.01%<\/bg-quote><br \/>\n       traded down 3.7% to $49.69. The shares have lost 4.9% over the five-session period.<\/p>\n<p><strong>Block Inc. <\/strong><br \/>\n        SQ,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/205989440\/composite\" class=\"negative\">-4.36%<\/bg-quote><span>\u2019s<\/span><br \/>\n       shares, formally known as Square,\u00a0are down 5.4% to $105.94, with a 7.1% loss for the week. <strong>Tesla Inc.<\/strong><br \/>\n        TSLA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203558040\/composite\" class=\"negative\">-4.76%<\/bg-quote><span>\u2019s<\/span><br \/>\n       shares lost 4.9% to $817.50, while its shares logged a 2.6% loss for the past five sessions.<\/p>\n<p><strong>PayPal Holdings Inc. <\/strong><br \/>\n        PYPL,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208054269\/composite\" class=\"negative\">-2.16%<\/bg-quote><br \/>\n       lost 3% to $97.20, while it recorded a 4% decline over the five-session stretch.<strong> Nvidia Corp.<\/strong><br \/>\n        NVDA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200467500\/composite\" class=\"negative\">-2.71%<\/bg-quote><br \/>\n       lost 4% to $220.55, and was looking at a 7% loss over the week thus far.<\/p>\n<p><strong>Advanced Micro Devices In<\/strong>c.<br \/>\n        AMD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208144392\/composite\" class=\"negative\">-6.12%<\/bg-quote><br \/>\n       lost 6.5% to $103.92, while it lost 7.3% over the past five trading days, as of Thursday afternoon.<\/p>\n<p>Among crypto funds,<strong> ProShares Bitcoin Strategy ETF<\/strong><br \/>\n        BITO,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/230440344\/composite\" class=\"negative\">-6.57%<\/bg-quote><br \/>\n       was 6.5% lower at $24.61 Thursday, while <strong>Valkyrie Bitcoin Strategy ETF<\/strong><br \/>\n        BTF,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/230473388\/composite\" class=\"negative\">-6.50%<\/bg-quote><br \/>\n       was down 6.8% at $15.22. <strong>VanEck Bitcoin Strategy ETF<\/strong><br \/>\n        XBTF,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/230997909\/composite\" class=\"negative\">-6.44%<\/bg-quote><br \/>\n       fell 6.5% to $38.50. <\/p>\n<p><strong>Grayscale Bitcoin Trust<\/strong><br \/>\n        GBTC,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203330852\/delayed\" class=\"negative\">-5.62%<\/bg-quote><br \/>\n       was trading at $26.50, off 5.7% Thursday afternoon.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Must_Reads\"><\/span>Must Reads<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<ul class=\"articleList\">\n<li>\n      <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coindesk.com\/markets\/2022\/03\/10\/icons-icx-rockets-70-as-crypto-friendly-candidate-wins-south-korean-presidential-election\/\" class=\"icon none\">Icon\u2019s ICX Rockets 70% as Crypto-Friendly Candidate Wins South Korean Presidential Election<\/a> (CoinDesk)<\/p>\n<\/li>\n<li>\n      <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-09\/goldman-sachs-explores-offering-new-options-for-cryptocurrencies?utm_medium=email&amp;utm_source=newsletter&amp;utm_term=220309&amp;utm_campaign=author_20216864&amp;sref=OQBow3f2\" class=\"icon none\">Goldman Sachs Explores Offering New Options for Cryptocurrencies<\/a> (Bloomberg)<\/p>\n<\/li>\n<li>\n      <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-10\/crypto-obfuscator-tornado-doesn-t-plan-to-comply-with-sanctions?sref=OQBow3f2\" class=\"icon none\">Crypto Mixer Tornado Cash Doesn\u2019t Plan to Comply With Sanctions<\/a> (Bloomberg)<\/p>\n<\/li>\n<li>\n      <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/technology\/2022\/03\/08\/bitcoin-crypto-islam-haram\/\" class=\"icon none\">Islam has a rich tradition around finance. Crypto is prompting new questions.<\/a> (The Washington Post)<\/p>\n<\/li>\n<li>\n      Crypto allows Ukraine to raise donations for its military defense against Russia \u2018more efficiently,\u2019 says deputy minster Bornyakov (MarketWatch)<\/p>\n<\/li>\n<\/ul><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Frances Yue\",\"subhead\":\"The Wall Street Journal\",\"list\":[,{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/FrancesYue_\",\"text\":\"@FrancesYue_\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:frances.yue@marketwatch.com\",\"text\":\"frances.yue@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Frances_Yue\"><\/span>Frances Yue<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\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><\/p>\n<\/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\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-7A79-53DB1ECE9C21%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Distributed Ledger: Here\u2019s what the crypto industry is looking for as federal agencies draft policy&#8221; \u2018I don\u2019t think you can expect everything to be detailed right out of the gate,\u2019 one lawyer says. Hello! Welcome back to Distributed Ledger, our weekly crypto newsletter that reaches your inbox every Thursday. I\u2019m Frances Yue, crypto reporter at&#8230;<\/p>\n","protected":false},"author":1,"featured_media":414433,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.mktw.net\/im-429485\/social","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-414432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/414432","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=414432"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/414432\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/414433"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=414432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=414432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=414432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}