ECB Governor Calls For Tax on Bitcoin

Ewald Nowotny call governments to regulate bitcoin, labelling the cryptocurrency an object of speculation and a tool for money laundering
03 January 2018   1515

Ewald Nowotny, member of the European Central Bank ’s governing council, said in an interview with German paper Sueddeutsche Zeitung on Wednesday that governments should regulate and tax bitcoin, labelling the cryptocurrency an object of speculation and a tool for money laundering.

We need a value-added tax on bitcoin, since it's not a currency. It can't be allowed that we've just decided to stop printing 500-euro notes to fight money laundering, that we've slapped strict rules on every tiny savings club, and then have to watch people blithely laundering money around the globe with bitcoin. One ought to apply what the basic rule is in any other financial transaction: everyone involved should reveal their identity.

 

ECB governing council member

Ewald Nowotny

Nowotny's comments echo those by other ECB officials, who regard the bitcoin's spectacular surge in value as a bubble, rather than a sign it could be a digital competitor to the euro single currency used by its 19 member nations.

Recently, we have reported that the Bank of Israel is considering issuing digital currency in order to create a faster payments system as well as reducing the amount of cash in the economy.

WisdomTree to Launch BTC-Based ETP at SIX

WisdomTree, a $60B worth asset manager, believes that Bitcoin is not a passing trend, so it can be included in portfolios
04 December 2019   68

$ 60 billion asset manager WisdomTree has launched an exchange-traded Bitcoin-based (ETP) product on the largest Swiss stock exchange SIX Swiss Exchange.

ETP will allow investors to invest in the first cryptocurrency without the need to store the coins themselves. WisdomTree believes that Bitcoin is not a passing trend, so it can be included in portfolios.

Swissquote will act as custodian of bitcoins, and Flow Traders will act as a market maker.

On the SIX listing, there are nine more cryptocurrency ETPs from Amun AG, including products based on Bitcoin, Ethereum, XRP, Bitcoin Cash and Binance Coin.