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Regulations on virtual currencies and Initial Coin Offerings are expanding everywhere. And the United States remains one of the countries that everyone is looking at in terms of regulations. But the Securities and Exchange Commission (SEC) said on April the 26h that they disagree with a hard approach towards ICOs.

SEC Wants Balanced Regulations on ICOs

The Congressman Brad Sherman, called for a ban on ICOs during a hearing that took place on Thursday. The hearing featured the SEC and the House Financial Services Committee. But members like Brad Sherman strongly disagree with the balanced approach taken by the SEC.

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William Hinman, Director of the SEC’s Division of Corporation Finance, explained that his division is ‘striving for a balanced approach’ to regulate virtual currencies and ICOs.

But Mr, Sherman did not seem very happy and glad about these comments. That’s why he answered that token sales affect in a negative way the country’s economy.

At the same time, the hearing was intended to discuss why IPOs are declining in the country. And there is an inverse relationship between ICOs growing and IPOs decreasing. In order to stop it, Bill Huizenga asked Hinman whether ICOs could be regulated in order to allow IPOs to grow again.

SEC Considers Bitcoin ETFs

Cryptocurrencies have been attracting the attention of important investors in the last months and years. That’s one of the reasons why the SEC explained that formal proceedings are set to being listing the first Bitcoin exchange-traded funds, also known as ETFs.

The report that the commission released reads as follows:

“The Commission is instituting proceedings pursuant to Section 19(b)(2)(B) of the Act to determine whether the proposed rule change should be approved or disapproved.  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, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.”

The intention is to accept Bitcoin ETFs in the United States. This is the reason why it has decided to initiate an inquiry. With Bitcoin related ETFs, bitcoin futures contracts would have greater exposure. That will allow investors to diversify their portfolios by incurring in the crypto market.

At the moment, there are some Blockchain ETFs available to be traded on Nasdaq.  The two ETFs are known as Reality Shares Nasdaq NexGen ETF (BLCN) and Amplify Transformational Data Sharing ETF (BLOK).

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