Israeli Central Bank and Ministry of Finance Warn of Bitcoin Perils
In a joint statement released Wednesday by the Bank of Israel and the Israeli Ministry of Finance, the institutions warned the public of the risks surround decentralized digital currencies the likes of bitcoin. The public advisory follows a slew of other warnings dished out by a number of central banks around the world. The warnings are essentially the same we've seen in similar announcements, with the institutions warning that digital currency is not legal tender, not issued by the Israeli central bank, and certainly not backed by the central bank. As such, there is not obligation or....
Related News
A report from the El Tiempo news publication in Colombia reports that the country's Superintendency of Finance, the national bank, and the Ministry of Finance are poised to release a document that will not only make clear of the country's stance on digital currency, but warn citizens of the perils of getting involved (much like other countries have). More alarmingly, the report could ban the usage of digital currency by financial institutions - namely bitcoin. Said report could be released as soon as Tuesday upcoming. The move comes two weeks following a statement from the Central Bank....
The Bank of Israel (BoI) and the Israeli Ministry of Finance have issued a joint statement calling on the public to exercise caution with regard to digital currencies. The warning falls in line with what we've heard from regulators across the world over the past few months. The Bank of Israel and the ministry stress that digital currencies are not legal tender, nor are they issued or backed by a central bank, which means there is not legal requirement for anyone to accept or exchange them. The joint statement was issued following a meeting convened by the Governor of the Bank of Israel,....
The Central Bank of Brazil's building in Brasília. Source: OPLOP. On Wednesday, not only did we have the central bank of Israel come out and warn of the perils of getting involved with digital currencies, Hungary also came forward with a statement of their own. Now, the Central Bank of Brazil is coming out of the woodwork with a statement of their own. And while they haven't slammed down the ban hammer like Russia recently has, they have echoed the sentiments previously communicated by a number of other central banks. The bank reminds its citizens that "virtual currency" are not issued nor....
The Finance Ministry in Russia, long known for taking an aggressive stance against Bitcoin is now developing a proposal to officially ban bitcoin in Russia. The proposal by the Finance Ministry cites the Russian Central Bank to be the sole issuing authority to create what it sees as the only valid currency in the country, the Russian ruble. The Ministry of Finance in Russia is in the process of proposing new amendments to article 27 of the Russian Federation’s Federal Law on the Central Bank (Bank of Russia). A report published today by Moscow-based publication Izvestia, has revealed that....
The Russian Ministry of Finance has proposed the adoption of two pieces of legislation aimed at regulating cryptocurrencies. The drafts will be presented for public discussions expected to continue until March 18. Media reports have revealed that Bank of Russia has been working on alternative bills. Russian Ministry of Finance to Open Consultations on New Crypto Legislation Russia’s finance ministry has started drafting two new bills to comprehensively regulate cryptocurrencies and related activities in the country. The treasury department proposes a new law “On Digital....