Thailand to Issue Central Bank Digital Currency

Solution called 'Project Inthanon' will be based on the Corda blockchain technology
23 August 2018   270

The Bank of Thailand (BoT) announced the launch of Project Inthanon, an initiative aimed at creating its own digital currency, CCN reports.

According to the report BoT, the financial regulator of this Asian country has joined forces with 8 partner banks and proceeds to create prototype solutions, which will be based on a Corda Technologies blockchain, created by a consortium of R3.

The project envisages the creation of tokens, through which money transfers across the country can be carried out using the interbank system.

Representatives of BoT noted that similar initiatives are also being implemented by the central banks of Canada, Hong Kong and Singapore.

Earlier this week, the head of the Bank of Thailand, Viratay Santiprabhob noted that crypto can not be directly associated with fraudulent projects.

Also this month, representatives of the BoT said that the country's financial institutions can buy and sell cryptocurrency after obtaining permission from the local Commission on the Securities and Exchange Commission (SEC).

SEC to Need More Info on BTC ETF

SEC is gathering more input from the public – to date, according to the agency, more than 1,400 comments have been submitted
21 September 2018   158

The US Securities and Exchange Commission (SEC) announced the beginning of a formal process for considering the application for the creation of bitcoin-ETF from the New York companies VanEck and SolidX. Nevertheless, the agency appealed to the community for more information. This is stated in the document published on the SEC website.

Institution of such proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change. Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.

The US Securities and Exchange Commission

At the moment, the SEC received about 1,400 comments.

According to the document, the Chicago Board Options Exchange (CBOE) has signed an agreement on the exchange of data on bitcoin transactions, trading and the state of the market with the cryptocurrency trading platform with Gemini.

The agency asked commentators to clarify the position of Gemini in the digital currency market and assess the likelihood of increased volatility at this site in connection with possible trades of bitcoin-ETF.

So, before September 30, the department had to decide on whether to approve, deny or initiate the proceedings. The SEC chose the latter, which is likely to delay the process until the next year.