The SEC is Now Weighing an Ethereum ETF Proposal

The SEC has quietly begun the process of weighing the approval of EtherIndex, an exchange-traded fund (ETF) for the cryptocurrency Ether (ETH). The EtherIndex Ether Trust was filed in July 2016 to launch an ETF backed by a cache of ethers on the NYSE Arca exchange. NYSE Arca then filed for a proposed rule change clearing the way for the ETF listing in December, according to a notice published in January. A new notice from the SEC reveals that the agency has begun weighing whether it will approve the proposed ETF.

The agency remarked in the notice:

"Institution of such proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change. Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to provide comments on the proposed rule change."

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India is Cracking Down on OneCoin

Outlets such as Times of India, The Hindu and Hindustan Times report that authorities in India are undertaking a broad crackdown on OneCoin, a digital currency investment scheme widely believed to be fraudulent. 18 individuals have been arrested during Sunday in connection with OneCoin events in the country. Police are also said to have confiscated funds from bank accounts associated with the individuals totaling more than $2m. The reports, the arrests, and subsequent account seizures came from the undercover work of Indian authorities during a recent OneCoin event.

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WINGS Token Launches on the Ethereum Mainnet

Five months after a successful backing campaign, in which the Wings project collected just under two million dollars, the WINGS token has finally been released on the Ethereum blockchain and it is now trading on the Bittrex exchange’s BTC and ETH markets. Prior to its release, the WINGS token smart contract was audited by three different entities: Open Zepplin group, Peter Vessenes of New Alchemy, and Marco Polci of Digital Identity.

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