Lithuanian Banks Issued a Warning Over Crypto Investments

A group of self-governing Lithuanian banks issued a warning regarding the crypto investment risks

01 March 2018 857

According to a statement, the Lithuania Banking Association stated that despite an increasing attention, cryptocurrencies still remains obscure to domestic investors. Banking Association advised being cautious in dealing with cryptocurrencies.

Investors must realize that they do so only at their own risk. Cryptocurrencies are unattended and unregulated. According to the statement, today’s value of cryptocurrencies is based on speculations.

The Banking Association consists of major financial institutions in the country including Swedbank, SEB Group, Danske Bank and the LKU Credit Union Group. It was founded in order to inform the public about financial technologies.

According to the association, it does not want to relate to cryptocurrencies. It plans to support the country's central bank, Bank of Lithuania.

LBA members strictly adhere to the position of the Bank of Lithuania to clearly disconnect their activities from virtual currencies and not to provide related services.

The Lithuania Banking Association

Exchanges Bitcoin Blockchain

SEC to Start VanEck-SolidX BTC-ETF Consideration

Starting today, the 45-day countdown to the SEC initial decision was launched

20 February 2019 87

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.