European Central Bank to Research Bitcoin

The European Central Bank is impressed by the Bitcoin and has to acknowledge that cryptocurrencies can affect the financial stability  
09 February 2018   757

One of the great concerns of European Bank is that Bitcoin can effectively impact the financial stability of any region. Until now, banks and policymakers have not paid enough attention to cryptocurrencies. At the moment, the European Union, which is quite impressed with the potential of the blockchain is willing to research it.

On a European level, only a few countries introduced their taxation regulation. However, the European Central Bank has no plans to regulate cryptocurrencies, they even don't have enough power to do it effectively.

At the moment, the ECB may not see Bitcoin as a threat, but things can change. The main goal of the ECB is to study the risks connected with cryptocurrencies in the future. Especially Bitcoin which may cause a major risk to financial stability.

Before making any conclusions, it is necessary to conduct additional studies. Regulating the сryptocurrency is a complicated issue, because no one is able to control the cryptocurrency, not even the European Central Bank.

At the moment, the European Central Bank can only provide more guidelines to help mitigate any impact on local economies.

SEC May Approve BTC ETF in 2019

This thought was told by Bill Barhydt, chief executive of bitcoin payment start-up Abra
05 September 2018   414

In an interview with CNBC, the head of Abra, Bill Barhydt, said that the SEC had not yet approved the bitcoin-ETF because the initiators of the launch of these funds "do not meet the expectations" of the agency.

I think the issue with the SEC, quite frankly, is that the people who are doing the applications don't fit mold of who the SEC is used to approving. I used to work for Goldman Sachs, but if you look at how I'm dressed you probably wouldn't know it. So I probably, unfortunately, couldn't go like I am here to a meeting at the SEC to say I'm applying for the ability to issue an ETF.

Bill Barhydt

CEO, Abra

According to Barhydt, the applicant must "look, smell and behave" as the SEC wants to approve the application. He also believes that the application for the launch of ETF from a reputable financial company will be approved rather than from a start-up.

He also expressed confidence that the first publicly cryptocurrency ETF will appear next year.

It's going to happen in the next year, I would actually make a bet on it. There is too much demand for it.

Bill Barhydt

CEO, Abra

In late August, the SEC rejected an application for the ProShares Bitcoin ETF and ProShares Short Bitcoin ETF. At the same time, a similar fate awaited several applications for the launch of Bitcoin-ETF from Direxion and GraniteShares.