Bitcoin (BTC) exchange-traded funds, or ETFs, have faced unfair pushback from U.S. regulators, according to VanEck director and digital asset specialist Gabor Gurbacs. "There's a persistent double standard against Bitcoin and digital assets, which I think is wrong," Gurbacs told host Max Keiser on a recent episode of the Keiser Report. Bitcoin ETF denials by the bushel In its simplest form, a Bitcoin ETF is a financial product traded officially on mainstream stock markets, with shares representing exposure to Bitcoin's price. A Bitcoin ETF might be cash-backed or BTC-backed, depending on the product. This avenue essentially allows folks Bitcoin investment …

Even in light of recent riots, protests, and uncertainties, mainstream U.S. financial markets show upward prices due to overarching forces, according to Morgan Creek Digital co-founder, Anthony Pompliano. "Yes there are protests, there are all these things, but the bigger force is the fact that now all these businesses are opening up," Pompliano said in a June 2 episode of "Lunch Money" on his YouTube channel. "There's going to be more economic activity and there should be a recovery in that data." Economy returning to function After weeks of shelter-in-place orders and COVID-19 protection measures, many U.S. states are currently …

Cryptocurrency has seen a rise in mainstream attention starting last fall — before COVID-19 measures took off, according Floating Point Group, or FPG, an algorithmic trading technology startup conceived at MIT. "An increasing portion of our inbound prospects are established industry participants coming from FX, equities and derivatives markets," FPG co-founder Kevin March told Cointelegraph on May 28 after confirming the presence of increased mainstream crypto trading interest. Cryptocurrency opportunity knocking Abiding with U.S. regulation, FPG offers institutional players a number of tools, APIs and other tech for trade automation. March noted similarities among the incoming crypto trading interest. Elaborating, …

A recent report suggests that the lack of traditional financial infrastructure makes Africa a place where cryptocurrency adoption is likely. The report — shared with Cointelegraph by a Luno representative on May 27 — sheds light on Africa’s financial infrastructure and the role that cryptocurrencies play in it. The author of the research, which was jointly conducted by market analysis firm Arcane Research and crypto exchange, Luno, wrote that the financial landscape seen on the continent plays a role in forming appetite for crypto in Africa: “Although it is a diverse region, African nations share some key similarities and trends. …

The crypto space is well over a decade old with more than 5,500 different cryptocurrencies and a market capitalization north of $250 billion. Researchers at American venture capital firm Andreessen Horowitz say the 11-year old industry is in its fourth supercycle with the three previous epochs culminating in distinct developments that have gone on to shape the market as a whole. In a report issued earlier in May, the VC firm posited that despite the apparently chaotic nature of the crypto market, each previous cycle has proceeded in roughly the same order. According to the report, every new stage begins …

Chicago Mercantile Exchange's, or CME, global head of equity index and alternative investment products, Tim McCourt, said traders prefer cash-settled Bitcoin trading over products backed by physical Bitcoin (BTC). "So far, clients have expressed a clear preference and priority for a cash-settled product," McCourt told Cointelegraph in an email when asked why the CME chose to go the cash-settled route for its Bitcoin futures trading product back in 2017. The CME launched its BTC futures after its price metrics The CME opened Bitcoin futures trading in 2017, based on the exchange's own CF Bitcoin Reference Rate, or BRR, and Bitcoin …

The Chairman of the United States Federal Reserve, Jerome Powell, recently spoke about measures taken during the financial crisis, with many on Twitter viewing his remarks as evidence of the need for cryptocurrency. In a Sunday interview that aired on 60 Minutes, Powell spoke to news anchor Scott Pelley, saying the Fed had essentially flooded the economy with money printed in response to the Dow Jones Industrial Average falling in March and investors turning away from U.S. Treasurys. According to Powell, the Fed can print U.S. dollars digitally in addition to creating physical bills: "As a central bank, we have …

Mainstream market exchange, the Chicago Mercantile Exchange, or CME, recently posted record numbers for its Bitcoin (BTC) trading products. May 14 yielded open interest of 10,792 Bitcoin futures trading contracts at CME, totalling 53,960 BTC — an all-time high for the product, according to information a CME representative provided to Cointelegraph. On May 4, CME also tallied 66 large open interest holders, or LOIHs — another record. These LOIH figures in particular indicate added involvement from institutions, the CME representative noted. CME Bitcoin options have performed well since launch CME largely opened the door for mainstream Bitcoin participation in December …

A number of governing entities in China recently came together to issue an official document, proposing the development of a blockchain-based trade finance platform. Contributors included the People's Bank of China, the China Banking Regulatory Commission, China Securities Regulatory Commission, and the Foreign Exchange Bureau. In the document, the four organizations submitted their opinions on how best to finance the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, with an emphasis on global trade and finance. Disrupting how cross-border trade info is shared In an attempt to develop and implement better financial technology in the region, the proposal states that …

CoolBitX Founder Michael Ou believes regulators in Asia are leading the way when it comes to compliance with the Financial Action Task Force (FATF) travel rule, which is due to be implemented in June. The startup has developed a solution to the travel rule, called Sygna Bridge, which allows exchanges to communicate the identities of the senders and receivers of each transaction. On May 7 it announced it had conducted a series of cross-border transfer tests that demonstrated Sygna Bridge’s effectiveness in complying with the FATF guidelines by verifying transactions against the names of known terrorists and drug dealers. Singapore …

IOV Labs, a startup that constructs financial solutions based on Bitcoin's blockchain, has introduced another layer of scaling. "IOV Labs announced the launch of its Light Client for the Lumino Payments Network, a third-layer Bitcoin scaling solution," said a statement provided to Cointelegraph, which added: Lumino Payments Network enables off-chain payment capabilities for any current or future ERC20-compliant token deployed on the RSK and RIF blockchain networks." Bitcoin-based decentralized finance Ethereum made a name for itself as a smart contract-enabled network primed for project building. Thanks to a sidechain solution called Rootstock (RSK), however, projects can work with smart contracts …

Bitcoin’s year-to-date performance compared to the Brazilian Real coupled with the country’s financial woes may help drive demand towards the cryptocurrency. According to a new report released May 11 by Delphi Digital titled “The State of Bitcoin”, Brazil’s central bank lowering its interest rates to 3% and the fact the Real had lost 30% of its value relative to the U.S. dollar could drive away investors “who find the risk-reward tradeoff no longer attractive” in certain local markets. Delphi Digital speculated that this potential exodus could lead to a greater push towards Bitcoin (BTC) in Brazil: “This is not to …