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SEC Must Decide About VanEck Bitcoin ETF the Same Day Pro-Crypto Commissioner Hester Peirce Will Speak About This Subject… Good News Ahead?

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Everybody in the crypto-verse is focused on expectations and speculation. Which currency will rise, which will fall, which company will adopt blockchain technologies… and which will be the first Bitcoin ETF approved by the SEC.

Commissioner Hester M. Peirce (source SEC)

Although all previous attempts have failed, there is a light at the end of the tunnel. The US Securities and Exchange Commission is having a conference in New York on May 21 to discuss the future of ETFs and how they could affect the financial industry.

However, it is important to note that Hester “Crypto Mom” Peirce is responsible for giving the keynote speech. This new commissioner gained popularity within the ecosystem after raising her voice against the SEC’s refusal to approve a crypto ETF.

Peirce commented that this postures affected the industry and were harmful to innovation.

SEC is Slowly Giving More Reasons to be Optimistic

Elad Roisman

Along with Peirce, another recent change in the SEC board of directors gave a dose of optimism to entrepreneurs and enthusiasts as Elad Roisman the new commissioner is also openly a crypto supporter.

The fact that it is Ms. Peirce who gives the speech is a reason to be optimistic. The fact that they have chosen a date so close to the most important Blockchain event on the continent as well, but no doubt the fact that the SEC has to announce its verdict on VanEck’s request for a Bitcoin ETF that very same day is (for those who have a little faith) one of the reasons to be more excited.

Despite the motives for optimism, the truth is that the majority of the community expects the SEC to delay its decision once again. In a very pessimistic scenario, they may even reject the application.

The Community is Maturing

As reported by Ethereum World News, a few days ago the SEC delayed its rule on a Bitcoin ETF proposed by Bitwise. The fact that they have not given an opinion on VanEck’s proposal makes us imagine that this ETF might have a better fate:

However, something changed from the previous unsuccessful attempts. Now the community seems to have matured a bit, and despite expectations, the news of the delay did not change the market sentiment and BTC remained bullish.

And that alone is good news.

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NYSE files a trademark application for trading NFTs

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The world’s largest stock exchange may be planning to bring business into the Metaverse.

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Traders say $4,000 Ethereum back on the cards ‘if’ this bullish chart pattern plays out

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Global tensions that could trigger a correction in markets abound, but traders say ETH’s current setup could result in a swift return to the $4,000 level.

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CryptoPunks community reacts to the ongoing copyright battle between V1 and V2

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Although the collection is no longer deemed authentic by Larva Labs, its creators alleged sold 210 ETH worth of CryptoPunks V1 when the wrapped versions first gained traction.

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Binance.US is under investigation from SEC over trading affiliates: Report

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Binance CEO Changpeng Zhao allegedly has connections to two market makers buying and selling crypto on Binance.US.

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Boost Insurance unveils product covering against crypto theft from qualified custodians

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Boost Insurance, an insurance infrastructure-as-a-service platform, alongside go-to-market partner, Breach Insurance, a company that provides insurance technology and regulated insurance products for the cryptocurrency market, today announced the launch of Crypto Shield, an insurance product for cryptocurrency available to retail wallet holders.

Crypto Shield covers the theft of cryptocurrency while in the custody of a qualified custodian.

The Crypto Shield product allows individuals to purchase protection for their crypto wallets held by select custodians. In the case that the custodian is breached or suffers a social engineering attack resulting in lost assets, individuals insured under Crypto Shield can be reimbursed for the value of their policy.

Boost + Breach

While there is some commercial insurance available to cryptocurrency institutions, Breach envisioned Crypto Shield as a solution to the protection gap that currently exists for individuals holding crypto, securing a partnership with Boost to assist in bringing the Crypto Shield product to life.

Boost’s insurance infrastructure-as-a-service packages the necessary operational, technological, compliance, and capital requirements for new insurance programs into a white-label solution, enabling insurtechs like Breach to swiftly launch new lines of business.

“Boost’s deep expertise and insurance infrastructure-as-a-service platform, and Relm’s industry-leading crypto reinsurance capabilities, have positioned Breach to bring a highly complex insurance product to the market in a beautifully delivered customer experience.”
– Eyhab Aejaz, Co-Founder & CEO at Breach

To deliver that product in a seamless experience, Boost and Breach’s platforms connect via API, allowing Boost’s policy administration system to deliver back-end management for the Crypto Shield product. Breach’s customers are then able to purchase and manage every part of their policy and claims process, all from within Breach’s proprietary crypto insurance platform.

“With Boost’s infrastructure-as-a-service platform, companies like Breach can launch and deliver innovative new insurance offerings, at a fraction of the time and cost required to build a full-stack insurance program from scratch.”
– Alex Maffeo, CEO & Founder of Boost

In addition to powering the new product, Boost and Breach partnered to source and secure the necessary reinsurance backing from industry expert Relm Insurance Ltd. (Relm), underwritten by Trisura Specialty Insurance Company. Operating out of Bermuda, Relm is a capacity provider to the crypto sector with a track record of insuring companies across the ecosystem. Relm has recently been awarded an ‘A Exceptional’ Financial Stability Rating (FSR) by Demotech.

“Relm’s partnership with Boost and Breach to reinsure the US’s first cryptocurrency insurance product for retail wallet holders is a milestone in supporting the development of crypto and blockchain technologies.”
– Joe Ziolkowski, CEO at Relm

The post Boost Insurance unveils product covering against crypto theft from qualified custodians appeared first on CryptoNinjas.

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