Friday events: On kryptowalutowe funds too early; Dealers of gold benefit on the correction of Bitcoin; Korean banks profit from customers investments in kryptowaluty; Swiss Church accepts donations via Bitcoin; Calm on the exchanges.
• Kryptowalutowe funds too early:
The American Commission on Securities and exchange Commission (SEC) published a letter from the two groups trade Wall Ctreet interested in opening funds ETFs and mutual funds based on Bitcoinie. Says that companies that offer investment products based on kryptowalutach still unable to comply with SEC rules.
Dalia Blass, Investment Director at the SEC, she wrote in a letter:
We appreciate the fact that the supporters on crypto currencies and related products, has identified a number of potential advantages. We also know that critics in the crypto currency has made various concerns about transparency of information, trade, pricing and other issues related to the nature of the asset. In light of these considerations, we have in the moment is important, unresolved issues relating to how funds that have significant volumes on crypto currencies and related products that meet the requirements of the law, since 1940.
The law on investment companies of 1940. is the source of regulation for all investment funds, closed-end funds, hedge funds, private equity funds and holding companies.
The letter contains questions that, in the opinion of the SEC, must be answered to enable them to consider and support the idea of a Fund based on kryptowalutach. Blass writes that the assessment of portfolios of cryptography at the end of each day will be difficult due to the instability of the market and the nature of the Protocol, the Blockchain. The SEC also considers the liquidity potential problem, as in the act.
The risk of fraud and manipulation in the market, which has already been presented in the Bulletin of the SEC from August 2017. for ICO, is repeated in writing in relation to the funds ETF (Exchange-traded Funds). In early January 2018., SEC asked about the withdrawal of two proposals ETF related Bitcoinem, citing the same concerns about liquidity. The final position of the SEC about the possibility of funds based on Bitcoinie, is currently unfavorable.
We do not believe that sponsors should initiate the check funds, which are going to pretty much be an investment in kryptowaluty and related products. We asked for sponsors that submitted applications for registration filed in such products, their opinion.
– according to Blass.
• Dealers gold win for the correction of Bitcoin:
Daniel Marburger, Director of the European dealer of gold CoinInvest, said 16. December the company sold to customers about 30 kilograms of gold worth more than $ 1 million. This week was very volatile for Bitcoin and several of the industry believes that investors are looking for at this time more stable assets. Bitcoin, like most others on crypto currency, was found with a 40% correction.
Marburger said Bloombergowi that the sale of gold 16. February rose five times:
Tuesday was a crazy day. E-mail and phone numbers not stood still with customers pytającymi how they could replace kryptowaluty in gold.
A similar situation was described by the Irish company GoldCore LTD, where customers used bitcoin and bought physical gold last three months. GoldCore Director mark o Byrne, told Bloomberg by e-mail for concerned customers:
They told us that they are afraid that the huge price changes are unstoppable and annoying. We think that more and more people understand that digital assets have a much higher level of risk than traditional assets safe havens» like gold.
Earlier, in December 2017, when the price of bitcoin reached a record level, Larry McDonald, head of U.S. macro strategy at ACG Analytics said in an interview with CNBC that investors sell gold to buy Bitcoin in November and December 2017:
Kryptowaluty definitely eat gold.
• Korean banks profit from customers investments in kryptowaluty:
Published data from the South Korean Agency for Financial Supervision (FSS) show that in 2017. several major banks from South Korea, has received about $ 2 million Commission from virtual accounts for investing in kryptowaluty. This is the sum of 36 times higher than in the previous year.
The probe was tested six major banks: Woori Bank, Kookmin Bank, Shinhan Bank, NongHyup Bank, Industrial Bank of Korea and Korea Development Bank, to ensure that effectively prevent money laundering using virtual accounts, support kryptowaluty.
For Yonhapa, Industrial Bank of Korea announced 634.500 dollars, and NongHyup Bank 614,760 dollars.
Last week in South Korea, broke out a wave of controversy over government attempts at strict regulation of cryptography, such as a ban on the use of anonymous accounts associated with virtual number of stock exchanges on crypto currency, prohibiting minors and foreigners to invest on the market performance of cryptographic.
16. March, the South Korean petition against the regulation of digital currencies has recorded more than 200,000 signatures, now requires an official response from the government.
• The Swiss Church accepts donations via Bitcoin:
The overall installation of most churches is that they are conservative and stick to traditions. Although this is often true in many ways, many churches are actually wanting to adopt the latest innovations that have brought the technology. An example is IFC Evangelical Church in Zurich, which begins to accept donations using Bitcoin.
The Church takes kryptowaluty is one of the largest in Switzerland. His congregation is relatively young, and the Church is a big supporter of new technologies. It is for these reasons the collecting of donations bitcoinowych makes sense for the Church. The press-Secretary of the ICF, Nicolas Legler, told the local media:
Digital currencies and the Blockchain technology will change in the next few years our daily lives.
Many churches have long used technological innovations to spread his Ministry, from the transmit stations, to Kazan online that people can download and browse in your free time.
Bitmain Technologies, the great Chinese Bitcoin mine, moved to Switzerland, because China is doing everything possible to end the possibility of mining in the country. Just a few years ago the Swiss city of Zug, began a pilot project in which citizens can pay Bitcoinami for government services.
• Peace of mind on the exchanges:
This is probably the calm before the storm, as we experienced from the first long period, a quiet day on the stock exchanges on crypto currency. Most of them zaliczyły minor adjustments – Bitcoin at 1.7%, Ethereum 2%, and the Wave of 5.2%. It was a good day for investors Bitcoin Gold, which recorded a 6.5% new growth. The total capitalization of the market is 566 billion dollars, which means to sail in the $ 22 billion for the last day.
source: bitcoinist.com, cointelegraph.com, coinmarketcap.com.