Central Bank of Israel Refuses to Recognize Bitcoin

The Deputy Governor of the Bank of Israel spoke at the Knesset Finance Committee on a number of issues related to the phenomenon of cryptocurrencies
09 January 2018   324

The Deputy Governor of the Bank of Israel Nadine Baudot-Trajtenberg revealed on Monday the central bank’s official position on the recognition and regulation of cryptocurrencies. The central bank official also admitted fielding a number of public complaints about banks making it difficult to move fiat money from their accounts to purchase cryptocurrencies while adding it would be difficult to issue regulations for cryptocurrencies.

Bitcoin and similar currencies do not fit the legal definition of a currency or foreign currency. A currency fulfills the functions ascribed to it in the economic literature — a unit of account, a mean of payment, and stability that enables it serve as a store of value. None of these exist with Bitcoin or similar currencies, which are characterized by higher volatility, difficulty in making transactions, and a lack of certainty regarding the parties that stand behind it.

 

Nadine Baudot-Trajtenberg

The Deputy Governor, the Bank of Israel

Addressing customer concerns about using their fiat money to buy cryptocurrencies, she added that banks face compliance risks, particularly when fiat funds swapped into cryptocurrencies may be used to launder money, finance crime and so forth.

Recently, we have reported that the Bank of Israel announced its plans to issue digital currency in order to create a faster payments system as well as reducing the amount of cash in the economy.

Bitcoin White to Release iOS and MacOS Wallet

According to the roadmap of Bitcoin White, the wallet for iOS and Mac OS will be released on February 19, 2018
19 February 2018   76

Bitcoin White is a flexible and decentralized application platform designed to lower the threshold for developers. Using JavaScript as the programming language and relational database to store data, Bitcoin White is increasing the similarities between developing a DAPP and a traditional web application.

Bitcoin White team has already developed and released the version of its wallet for Windows, Linux and Android. According to the roadmap of Bitcoin White, the wallet for iOS and Mac OS will be released on February 19, 2018.

 Bitcoin White Roadmap
Bitcoin White Roadmap Fragment

The features of the wallet include asset management, account information, setting an additional password, blocking the account by block, and internal blockchain list of transactions.

At the moment of press, these are main market parameters of Bitcoin White:

Average price: $0,184621
24h volume: $48 806