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   631

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 Need More Info on BTC ETF

SEC is gathering more input from the public – to date, according to the agency, more than 1,400 comments have been submitted
21 September 2018   134

The US Securities and Exchange Commission (SEC) announced the beginning of a formal process for considering the application for the creation of bitcoin-ETF from the New York companies VanEck and SolidX. Nevertheless, the agency appealed to the community for more information. This is stated in the document published on the SEC website.

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, as described below, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.

The US Securities and Exchange Commission

At the moment, the SEC received about 1,400 comments.

According to the document, the Chicago Board Options Exchange (CBOE) has signed an agreement on the exchange of data on bitcoin transactions, trading and the state of the market with the cryptocurrency trading platform with Gemini.

The agency asked commentators to clarify the position of Gemini in the digital currency market and assess the likelihood of increased volatility at this site in connection with possible trades of bitcoin-ETF.

So, before September 30, the department had to decide on whether to approve, deny or initiate the proceedings. The SEC chose the latter, which is likely to delay the process until the next year.