Cryptocurrency Affects Taiwan Financial Environment

Taiwan’s Vice Premier is worried about the impact of the cryptocurrency sector on the nation’s financial environment
07 February 2018   1052

According to the official government report, Shih Jun-ji, Taiwan’s Vice Premier of the executive branch of government, touched the topic of the impact of cryptocurrencies on the nation’s financial system during his speech at the Taiwan Academy of Banking and Finance.

Shih Jun-ji insists on introducing measures to control the cryptocurrency. In his opinion,  the impact of Bitcoin and other cryptocurrencies should not be underestimated.

During his speech at the Taiwan Academy of Banking and Finance Shih highlighted that the cryptocurrencies are in the midst of a ‘bubble’. However, the soaring price gains of 2017 may not necessarily constitute a bubble of the ‘asset’ that is Bitcoin.

He also spoke about regulatory moves to oversee the cryptocurrency industry in Japan, the United States, European countries, and stressed the importance of planning policies to protect the financial system of Taiwan.

Unlike other Taiwan regulators, Shih Jun-ji is not hostile to the cryptocurrency, blockchain, and ICOs, and wants to secure the government’s financial system.

SEC to Start VanEck-SolidX BTC-ETF Consideration

Starting today, the 45-day countdown to the SEC initial decision was launched
20 February 2019   98

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.