Ⅱ.Policy Trends

1.International

(1) America: The SEC and CFTC are urged to publish clear cryptocurrency regulations

July 23: The American Chamber of Commerce has urged the Securities Exchange Commission (SEC) and the CFTC to release clear cryptocurrency regulations. The Chamber hopes the SEC will continue to research ICOs to determine whether they will be able to become an effective fundraising method while simultaneously protecting investors and obeying the law. It also hopes that the CFTC will research how cryptocurrencies will operate in the futures and commodities market.

(2) America: Former chairman of the CFTC: Only regulation will make Bitcoin’s bullish price settle.

July 24: Gary Gensler, former chairman of the CFTC, stated in an interview with the Wall Street Journal that he grows more interested in research concerning Bitcoin and blockchain technology every day. He is also aware of the potential risks despite his positive outlook on blockchain technology and cryptocurrency. Gensler believes that the SEC and CFTC can work together to supervise and search for potential blockchain-related fraud. This phase extremely important, because blockchain reduces costs and risks to a great scale and enjoys the stability that public interest provides.

(3) America: A poll among the SEC reveals that most members will approve ETF.

July 24: Results from a poll already conducted this summer by the SEC relating to Bitcoin’s ETF are mostly positive. Supporters of the proposal to change the ruling believe that Bitcoin’s ETF makes the cryptocurrency market safer for investors and makes it an exchange worthier of trust. And if Bitcoin’s ETF obtains approval, then the blockchain company Cboe and SolidX will also be permitted to issue regulated Bitcoin ETFs.