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Bitcoin [BTC] could combat money laundering & cross-border terrorism, says Tunisian Central Bank Guv




Bitcoin [BTC] allows Central Banks to combat money laundering & cross-border terrorism, says Tunisia Governor
Source: Unsplash

Bitcoin [BTC], the largest cryptocurrency by market cap, has grabbed the attention of Afghanistan, Tunisia, and Uzbekistan, as the countries march towards becoming the first to ever launch a state-issued Bitcoin bond.

According to a report by Asia Times, the governors of the Central Banks of Afghanistan and Tunisia discussed the issuance of a sovereign Bitcoin bond during the annual Spring Meetings of the Boards of Governors of the World Bank Group and the International Monetary Fund, which took place between April 8 and April 14 in Washington.

On the one hand, Governor of Central Bank of Afghanistan, Khalil Sediq, was quite optimistic about the use-case presented by cryptocurrencies. The Governor stated that they were “seriously considering” launching a blockchain-based crypto bond that would be issued with an intent to raise around $5.8 billion.

The raised funds would cater to the mining, agriculture and mining sectors, stated the report. The main reason behind this was the “severe restrictions” on non-concessional loan, which refers to loans provided by international organizations to countries with better interest rate and duration than standard loans.

More so, the Governor stated that the largest cryptocurrency would be backed by metals such as Lithium, adding that the mining industry in Afghanistan was worth over $3 trillion.

Governor Sediq reportedly stated,

“[…] a crypto issuance could offer a way to access international markets via a first-of-its-kind financial instrument made possible with hyperledger’s blockchain technology service platform.”

On the other hand, the Governor of Central Bank of Tunisia, Marouane El Abassi, also a former World Bank official, stated that the country had already formed a group that was investigating the use-case, advantage, and disadvantage of state-issued Bitcoin bond.

Interestingly, according to the report, the Tunisian Central Bank Governor stated that Hyperledger’s blockchain technology and Bitcoin, which was usually criticized by many for being a tool used by criminals, provided “central banks an efficient tool to combat money-laundering, manage remittance, fight cross-border terrorism and limit grey economics”.

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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.


SEC delays VanEck Bitcoin ETF decision days after delaying Bitwise proposed rule change





SEC delays VanEck Bitcoin ETF decision days after delaying the Bitwise proposed rule change
Source: Unsplash

The Securities and Commission Exchange [SEC] has yet again delayed another Bitcoin ETF. This time around, the commission has decided to delay the VanEck Soldix Bitcoin ETF, one of the most awaited exchange-traded funds in the cryptocurrency community.

In the document released today, the exchange has asked for more comments on the proposed rule change and has also asked for further information on queries related to the exchange-traded fund. The commission stated that it has received 25 comments on the proposed rule change so far.  It stated,

“On January 30, 2019, Cboe BZX Exchange, Inc. […] filed with the Securities and Exchange Commission, […] a proposed rule change to list and trade shares of SolidX Bitcoin Shares issued by the VanEck SolidX Bitcoin Trust […] The proposed rule change was published for comment in the Federal Register on February 20, 2019.”

It further stated

“On March 29, 2019, pursuant to Section 19(b)(2) of the Act, the commission designated a longer period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change.”

Notably, the main concerns of the commission continue to be market manipulation and the measure taken by the platform to protect its investors. The commission is currently seeking comments on 14 queries pertaining to the VanEck Bitcoin ETF.

This includes the views of the ‘commenters’ on whether the exchange has entered “into a surveillance-sharing agreement with a regulated market of significant size related to bitcoin?”, the relationship between the Bitcoin futures markets and the Bitcoin spot market, with the focus being price formation, the relationship between the Bitcoin futures market and the proposed Bitcoin ETF, and the commenters’ views “of the Exchange’s assertions that bitcoin is arguably less susceptible to manipulation than other commodities that underlie ETPs”.

Gabor Gurbacs, Director of Digital Assets Strategy with VanEck said on Twitter,

“The VanEck SolidX #Bitcoin #ETF decision has been postponed by the SEC. We continue the hard work towards better-regulated, safer and more liquid digital assets markets. Bitcoin is too big to ignore. Vires in numeris!”

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