South Africa’s Johannesburg Stock Exchange (JSE) has rejected a request by the asset management firm, Sygnia, to list a new bitcoin exchange-traded fund (ETF). In justifying its rejection of the latest proposal by Sygnia, the JSE cites the “lack of a regulatory framework for cryptocurrencies as the reason.” Unexpected Rejection Meanwhile, a report suggests that while Sygnia was not expecting “an immediate acceptance of the bitcoin ETF”, company executives still did not anticipate such “a quick rejection.” Instead, in her reaction to the JSE’s decision, Sygnia founder and executive chairman Magda Wierzycka said: We expected the JSE to put in it ‘file 13’ and if and when they were ready that Sygnia would be the first in the queue. In addition, Wierzycka says the bitcoin ETF “would have attracted attention, and in turn money, to the JSE.” In the meantime, the same report reveals that this is the second time the JSE has rejected a similar application by Sygnia. In 2017, Sygnia unsu...
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