The head of Dash predicts the release of state coins, negotiations with the SEC on Bitcoin-ETF were successful. In Japan, the cryptocurrency market is moving to self-regulation.
The head of the Dash Core Group, Ryan Taylor, is confident in the inevitable appearance of cryptocurrency from the Central Banks. The development of technology makes regulators go for unusual measures, because otherwise they risk losing competition to the private sector. Thus, in its memorandum, the IMF advises central banks to take such measures to stabilize money circulation.
It is noteworthy that this statement was made against the background of another event. For the first time, Coinbase has announced that it will support stablecoin USDC from Circle. Perhaps it is the fixed-rate assets that are the prototype of the future national cryptocurrency.
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The Financial Services Agency of Japan allowed the creation of the Association of cryptocurrency trading platforms in the country. The JVCEA network is now an association of 16 exchanges that have received a regulator's license and operate in full compliance with the developed standards.
The task of the new organization will be to formulate the rules for the provision of services in the cryptocurrency market and to protect the interests of clients from unauthorized actions. Japan was one of the first to legalize the trade in cryptocurrencies, and now it is taking a new step. As practice has shown, government agencies around the world can not develop norms and rules for regulating the industry. Officials hardly understand the conditions for the development of encryption technology.
Significant progress has been made in the negotiations on the Bitcoin-ETF approval procedure. The American Securities Commission in the near future may give permission to launch the exchange fund, the basic asset of which will be Bitcoin.
According to market participants, the opening of such a fund will attract institutional investors to trade in this financial instrument. In the course of negotiations with SEC representative Elad Roizman, representatives of Cboe, VanEck and SolidX managed to resolve all controversial issues. It now remains to wait for the Commission to approve the opening of the fund. Perhaps this will happen in December 2018.