Kuwait Prohibits Bitcoin

The Central Bank of Kuwait does not allow financial institutions to trade bitcoin
19 December 2017   1411

On December 18 Kuwait’s Ministry of Finance said that it does not recognize bitcoin and forbids its trading in the Kuwaiti financial institutions.

According to the Arab Times, sources from the ministry explained that the Central Bank of Kuwait does not allow financial institutions, banks and affiliated companies to trade bitcoin in the wake of the recent surge in prices.

The sources added the encrypted electronic currency is not guaranteed by the banking system or the Central Bank and the Central Bank had earlier asked the Ministry of Commerce and Industry to take the necessary measures to inform customers of the risks of this currency.

On December 16 the Arab Times reported that Kuwaiti citizens are at the "forefront" of trading bitcoin following the recent price gains. Sources from the public prosecution office indicated that the Kuwaiti law cannot prohibited online trading as it falls under the laws for "e-programs."

Recently, we have reported that the Central Banks of Saudi Arabia and the UAE plan to use cryptocurrency in cross-border payments in the future.

SEC to Decide on Bitcoin ETF until Feb 27 2019

Despite this news, Bitcoin price hit another bottom - $3400 this time
07 December 2018   97

The US Securities and Exchange Commission (SEC) issued a notice stating that consideration of a decision on an application to start Bitcoin-ETF from VanEck and SolidX with the assistance of CBOE will last until February 27 of next year.

According to the SEC rules, the period for consideration of this decision cannot be extended yet. Thus, the Commission on maximum uses the allotted time, and February 27 will be the final date for the decision on this application.

The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change.
 

Securities and Exchange Commision

According to representatives of the SEC, to date, the Commision has received more than 1600 comments on this application.

Despite this news, Bitcoin price hit another bottom - $3400 this time.