Canadian Barter Platform Bunz to Launch Own Crypto

Each Bunz user will receive 1000 BTZ, which can be exchanged for goods and services or can be send and received within users' community
10 April 2018   502

The Canadian platform for online trading and barter Bunz Trading Zone has issued its own crypto currency called BTZ. This is reported by Globe and Mail.

BTZ (pronounced "bitz") is, as its creators state, "the first Canadian crypto-currency, emitted in an already formed community - among the platform participants."

The Bunz project was created in 2013 by designer Emily Bitz as a closed group on Facebook in order to exchange things with friends. The number of the group grew rapidly, and she soon went beyond Facebook and Toronto. In 2016, an application and a website were released for Bunz.

The platform grew so quickly due to its simplicity and the absence of cash payments. However, it was the absence of payments that became a serious problem for Bunz, as it deprived the platform of "an obvious source of income".

You can use it in a simple and elegant way. We know the technology works … but we haven’t really seen a viable use case that the mass market can get behind. I think we’re going to be the first example of that.

Sascha Mojtahedi

CEO, Bunz

As stated in the project blog, each Bunz user will receive 1000 BTZ, which can be exchanged for goods and services or receive / send to other users of the platform. Initially, 1000 BTZ will be worth "enough to buy three coffee". BTZ tokens are available to 200,000 platform users since April 9th.

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.