- Commissioner Brian D. Quintenz Ending His Term at the CFTC
- U.S. Clears Security Token Trading System to Launch
- Bank of China Will Expand Regulatory Pilot Project to Six More Cities and Districts
- Zhejiang-based Ebang International Holdings Inc. Filed IPO
Commissioner Brian D. Quintenz Ending His Term at the CFTC
Brian D. Quintenz is ending his five-year term as Commissioner at the Commodity Futures Trading Commission (CFTC). He released a statement on April 28, 2020 regarding his future plans. He announced that he would not seek re-nomination to another five-year term as a Commissioner at the CFTC.
U.S. Clears Security Token Trading System to Launch
The U.S. Securities and Exchange Commission (SEC) has given the Public Private Execution Network (PPEX) regulatory clearance to launch in the United States. The PPEX is an alternative trading system for exempted digital assets and other private securities. The company intends to launch with digital asset trading capabilities built into its system. PPEX completed FINRA’s membership application in February and filed its Form ATS with the Securities Exchange Commission in March.
Bank of China Will Expand Regulatory Pilot Project to Six More Cities and Districts
The Bank of China plans to conduct pilot projects in Shanghai, Chongqing, Shenzhen, Hebei Xiong’an New District, Hangzhou and Suzhou. The Bank of China released “The Fintech Development Plan (2019-2021)” outline last year. The outline covered the bank’s main ideology, leading principles, and goals. Strengthening and expanding fintech regulation in China is one of the main goals of the Fintech Development Plan.
Zhejiang-based Ebang International Holdings Inc. Filed IPO
Zhejiang-based Ebang International Holdings Inc. (Ebang) filed its United States initial public offering (IPO). It seeks to raise $100 million in the United States. Ebang is a Chinese cryptocurrency miner.
Ebang told the U.S. Securities and Exchange Commission (SEC) in its registration statement, “We intend to start with the cryptocurrency mining and farming business and explore applying blockchain technology into non-cryptocurrency industries, such as the financial services and healthcare industries,” Ebang also told the SEC that they “believe our extensive experience in the blockchain and cryptocurrency industry positions us well in our future endeavors.”