THELOGICALINDIAN - South Africas Johannesburg Stock Exchange JSE has alone a appeal by the asset administration close Sygnia to account a new bitcoin exchangetraded armamentarium ETF In answer its bounce of the latest angle by Sygnia the JSE cites the abridgement of a authoritative framework for cryptocurrencies as the reason
Unexpected Rejection
Meanwhile, a report suggests that while Sygnia was not assured “an actual accepting of the bitcoin ETF”, aggregation admiral still did not ahead such “a quick rejection.” Instead, in her acknowledgment to the JSE’s decision, Sygnia architect and controlling administrator Magda Wierzycka said:
In addition, Wierzycka says the bitcoin ETF “would accept admiring attention, and in about-face money, to the JSE.” In the meantime, the aforementioned address reveals that this is the additional time the JSE has alone a agnate appliance by Sygnia. In 2024, Sygnia abominably approved to account the world’s aboriginal cryptocurrency ETF on the JSE. At the time, a above controlling with the exchange, John Burke, appropriate the JSE “was not accessible to accept cryptocurrency listings.”
Bitcoin’s Staying Power
In a altered report, Wierzycka is quoted cogent her acceptance in bitcoin’s blockage power. She additionally discusses how the crypto asset’s amount has been manipulated by “one actual able and affecting individual.” She said:
Meanwhile, afterward the South African Intergovernmental Fintech Working Group (IFWG)’s absolution of a new position paper on cryptocurrencies, it is now cryptic if the JSE’s bounce of the bitcoin ETF is activity to stand. In a new position cardboard on cryptocurrencies (which appear aloof afterwards the JSE bounce of the ETF proposal) the IFWG recommends the adjustment of the crypto ecosystem.
If accepted, the IFWG recommendations will see South Africa acceptable one of the aboriginal countries in Africa to adapt cryptocurrencies. Regulation of cryptocurrencies, in turn, will acceptable force the JSE into revisiting its accommodation to adios Sygnia’s request.
What do you anticipate of the JSE’s bounce of Sygnia’s bitcoin ETF application? Tell us what you anticipate in the comments area below.
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