ETF gloom

Skepticism on regulation, ethereum and zcash, Blockstream advances, Illinois digital currency guidance comments View this email in your browser January 20th, 2017 "Nearly all men can stand adversity, but if you want to test a man's character, give him power." – Abraham Lincoln Got this from a friend? SUBSCRIBE HERE David Brill, one of the lawyers who helped draft the Gemini ETF application, believes that SEC approval of bitcoin-related investment vehicles won't come any time soon. In conversation with CoinDesk, Brill explained that while he believes that a bitcoin ETF will eventually trade on a major stock exchange, he doesn't expect the SEC to grant approval while China accounts for such a large part of bitcoin trading. If he's right, this could dampen enthusiasm for bitcoin, as a recently published analyst report pointed at ETF approval as a potentially significant source of bitcoin demand.    Furthermore, Brill believes that the OCC proposal revealed last month for a federal FinTech charter – which would have simplified the licensing of crypto-exchanges and boosted their credibility – will end up stalling, due to opposition from individual states. He wasn't completely pessimistic, though. He does believe that the Trump administration will take a pro-bitcoin stance.   Read the whole story Tweet Share Who will be at CONSTRUCT?  21, Abra, ANX, Blockseer, Blockstack, Blockstream, Bloq, Chain, Ciphrex, Civic, Coinbase, Consensys, CME Group, Deloitte, Digital Asset, Digital Currency Group, DTCC, Ethereum Foundation, EY, Gem, Groupon, FDIC, Fidelity, IBM, IDEO, Intel, Intuit, IPFS, Lightning, Loyyal, MIT Media Lab, Netki, Overstock, R3, Ripple, Scotiabank, tØ, Vanguard, Zcash, and more. Come and join us January 30-31 in San Francisco, USA, for two intense days of panels, workshops, demos and beers. 😎 APPLY TO ATTEND 😎 Wait, there's more: **CoinDesk Research Poll: Will Blockchain Disrupt Venture Capital?** Blockchain token sales, or Initial Coin Offerings (ICOs), raised over $100m in funding for blockchain startups in 2016. Yet the industry seems divided on the future and the legality of this increasingly popular financing method. What do you think? Give us your take for our poll ahead of our forthcoming State of Blockchain 2016 report. Take our survey. Trump's 'Acting' CFTC Chair Details Vision for Blockchain Regulation At the SEFCON event in New York City, Chris Giancarlo – "acting chairman" of the CFTC – laid out his agenda for the regulation of blockchain technology. In conversation with CoinDesk, key attendees expressed their optimism that greater interaction and a light touch in regulation would be good for the sector, although there was some skepticism that the cost was justified. Read more. The Industry's Critique of Illinois's Digital Currency Guidance is In The Illinois Department of Financial and Professional Regulation has published the comments it received regarding its proposal to create a working environment for digital currency startups, and to consider exchanges that only deal in cryptocurrencies exempt from state money transmission rules. Read more. Blockstream Makes its Case for Bitcoin-Powered Private Blockchains Blockstream, best known for its work on the bitcoin blockchain with projects such as Lightning and sidechains, has released its second white paper. Among other things, the document reveals details of its sidechain Liquid, and positions it as an alternative to other private blockchains. Read more. Bid to Connect Ethereum and Zcash Blockchains Reaches New Milestone According to a blog post by lead developers from ethereum and Zcash, a new test has taken them a step towards being able to verify zk-SNARK proofs on the ethereum blockchain. Read more. FINRA Believes Blockchain Could Impact its Regulatory Rules The self-regulatory organization for US securities firms has published a new report outlining the potential impact of the blockchain on its industry rules. Read more. Go to CoinDesk BTC: $896.18 +0.4%  ETH: $10.56 +2.9% @10:00 EST - More price details WHAT DO YOU THINK? Will blockchain disrupt venture capital? Is the lack of legal framework a barrier? Do you think they're safe? We would really appreciate your feedback for our forthcoming State of Blockchain 2016 report. 🎉 TAKE THE SURVEY 🎉 PRESS RELEASES   20, Jan - Press Release: ERP Integration to Distributed Ledger and Blockchain 18, Jan - Press Release: Gospel Technology launches its Enterprise Trust Fabric 06, Jan - Press Release: UNICEF, UK Home Office and BTCC to speak at London Blockchain Week 2017 Happy Friday! Wherever you are in the world, I hope that you have a great weekend. Our weekly is out as usual on Sunday (if you don't subscribe, you can do so here). Until then, take care! Copyright © 2017 CoinDesk, All rights reserved. You're receiving this email because you subscribed for updates on our website. Our mailing address is: CoinDesk 636 Avenue of the Americas New York City, NY 10011 Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list