Bank of Thailand Asked its Banks Not to Trade Crypto

Bank of Thailand instructed national banks to prevent any kind of investment or trade involving cryptocurrency  
13 February 2018   916

According to the official circular, Bank of Thailand (BoT) asked the banks to ban transactions involving credit cards to buy cryptocurrencies. This rules will be implemented until new regulations are being formed.

Thailand’s Finance Minister stated that the government will not ban cryptocurrency trading. Within a month a regulatory framework will be released. BoT cannot regulate cryptocurrencies as it does not recognize such currencies as a legal tender. According to Finance Minister, the securities watchdog Thai Securities and Exchange Commission is the appropriate authority to oversee cryptocurrencies in Thailand.

However, there is no ban, the Finance Minister’s words mean that banks won’t be allowed to trade, but they would integrate the blockchain technology soon.

Such measures are not new. The US and the UK  also restricted the use of credit cards for the purchase of cryptocurrencies. Governments all over the world are taking measures to prevent the people from losing money.

SEC to Start VanEck-SolidX BTC-ETF Consideration

Starting today, the 45-day countdown to the SEC initial decision was launched
20 February 2019   87

For the first time since August of last year, two proposals on the creation of a Bitcoin-ETF are under consideration by the US Securities and Exchange Commission (SEC).

The application of VanEck and SolidX, issued in cooperation with the Cboe BZX exchange, as expected, was included in the Federal Register issue this Wednesday, with which the 45-day countdown to the SEC initial decision was launched. The application of Bitwise Asset Management and NYSE Arca was published last week.

I … hope that our investment in regulatory and market education, hard work and commitment will be honored when the time comes.

Gabor Gurbacs

Director of digital asset strategy, VanEck

The head of Bitwise’s research department, Matt Hogan, believes that not only firms that have submitted bids to create Bitcoin-ETFs are looking for approvals, but and the entire “extremely fast-growing” crypto industry.

A year ago there was maybe one qualified crypto custodian … and now there are half-a-dozen, and that number will go up from here. A little more than year ago, we didn’t have futures. A year ago we didn’t have nearly as many firms making markets. A few months ago, you didn’t have folks like Fidelity announced in the space. It’s evolving really, really quickly.

Matt Hougan

Global head of research, Bitwise

 As reported, ultimately, however, a bitcoin ETF approval will depend on how companies approach their proposals.