The U.S. Securities and Exchange Commission published a new warning against initial exchange offerings (IEOs). According to the notice, IEOs are similar to initial coin offerings (ICOs), many of which the agency has been investigating as unregistered securities offerings over the past several years. While IEO providers may claim their sales are different from ICOs, they may still violate federal securities laws, the SEC said. As such, the agency warned investors to “be cautious” if they are considering investing in an IEO.
Options on bitcoin futures from Chicago Mercantile Exchange (CME) got off to a good start on Monday, seeing trading volume reach 55 contracts in the opening session. That amounts to a notional volume of about $2.3 million or 275 bitcoin, with each contract worth 5 BTC. Also, only call options traded on the first day, as noted by Skew.com, provider of data analytics for Bitcoin and Ether derivatives.
Some have called for caution with regards to China’s digital currency, with the urgency to rush through Beijing’s own plan now lessened as Libra, which is perceived by Beijing as a major threat to China’s financial sovereignty, faces major regulatory obstacles worldwide.
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The Kiffmeister is a former Senior Financial Sector Expert at the International Monetary Fund.
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