From the quest for a Bitcoin ETF to the market cap battle between Ripple and Ethereum, here’s a look at some of the stories breaking in the world of crypto.
Jay Clayton, head of the US Securities and Exchange Commission, says his agency is unlikely to approve a Bitcoin exchange-traded fund in the near future.
Speaking at a conference in New York, he cited the same concerns that led the agency to reject previous Bitcoin ETF proposals: fear of market manipulation, lack of security measures and too few investor protections.
Clayton says, as Bloomberg reports,
“What investors expect is that the trading in that commodity that’s underlying the ETF is trading that makes sense, is free from the risk or significant risk of manipulation. Those kinds of safeguards don’t exist in many of the markets where digital currencies trade.”
Ripple and XRP
Ripple’s global head of infrastructure innovation, Dilip Rao, will give a speech at the World Bank on November 29th.
Rao will talk about the benefits of distributed ledgers and their ability to improve the speed, transparency and lower the cost of cross-border transactions.
Meanwhile, XRP’s position as the number two cryptocurrency is enduring. The digital asset has now held onto its spot ahead of Ethereum for 12 days – its longest stretch in that position since 2016.
Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ethereum Classic, 0x, Basic Attention Token
Coinbase is starting to roll out an option to let customers withdraw liquidated crypto to PayPal, offering an easy way to turn coins on the platform into cash.