Swiss Stock Exchange Chairman Endorses the E-Franc

Romero Lacher thinks that E-Franc "would be good for the economy"
26 February 2018   175

Chairman of the Swiss Stock Exchange SIX Romero Lacher believes that the idea of launching a crypto-currency version of the Swiss franc has many "positive aspects".

In a conversation with the Financial Times, Lacher said that his company will give all possible support to this initiative, adding that "he does not like cash".

I believe there would be a lot of upsides, we would be strongly supportive … An e-franc under the control of the central bank would create a lot of synergies — so it would be good for the economy. I don’t like cash.

Romero Lacher

Chairman, SIX

Switzerland is known as one of the most focused on the sphere of crypto-currencies and blockchain of the world's jurisdictions, however, in its banking industry, digital currencies have not yet spread.

This was again reminded by the National Bank of Switzerland, saying that the country "does not need" in the so-called "e-franc" at the present time.

I think the strategic direction is good, but it’s like going into fog. You don’t know what you will see on the other side. Many mistakes will be made, but we will also learn a lot and I am sure, we will be successful. My worry is that until recently, the value of cryptocurrencies has only been in one direction — up. After the first ICO to collapse, there will be burnt fingers.

Romero Lacher

Chairman, SIX

Lacher, in turn, shares the cautious view of the regulators on the ICO.

SEC to Start Crypto Hedge Funds Check

To date, the regulator has identified at least 100 funds working with crypto-currencies
23 March 2018   10

The US Securities and Exchange Commission is preparing to check about 100 hedge funds that work with crypto-currencies. The Wall Street Journal writes about this with reference to a source familiar with the situation.

The initiative followed the announcement of the verification of dozens of crypto-currency start-ups suspected of spreading securities under the guise of digital tokens.

Although the agency will pay attention to various violations during its audit, the main task is to inform the market participants about the policies that the regulator adheres to the crypto currency, the source said.

The audit will begin within 2 months, the source said. The Commission will pay attention to whether the assets that buy hedge funds match those that they offer to their investors. The SEC will also check how hedge funds inform investors about the risks and how their documents describe the trading strategy for crypto-currencies and tokens. To date, the regulator has identified at least 100 funds working with crypto-currencies.

The SEC directly regulates hedge funds under the control of which there are assets worth more than $ 150 million, and smaller companies check periodically. In 2017, 84 crypto-currency hedge funds were launched.