South Korean Financial Supervisory Service denies value of cryptocurrency

Financial watchdogs say that it’s a piece of deception but not the real money
23 November 2017   810

Choe Heung-sik, the head of the Financial Supervisory Service (FSS) announced that there is no need to control operations with digital money because members of the agency don’t think that cryptocurrency can be used as legal tender. They consider digital coins as a mean for sharp practices. Choe claims that cryptocurrency can not be used for payments.

As long as FSS keeps in check all operations with public money, digital currency is beyond the control of South Korean Financial watchdogs. Choe Heung-sik admitted that under the prevailing circumstances the agency has no plan how to control exchange of the cryptocurrency.

It should be noted that shortly before such announcements of the chief of the FSS there was a collapse with South Korean domestic exchange Bithumb. As a result, Bithumb lost billions of won.


SEC to Decide on Bitcoin ETF until Feb 27 2019

Despite this news, Bitcoin price hit another bottom - $3400 this time
07 December 2018   100

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.