Interesting news in the world of the forks of Bitcoin, both for Bitcoin Cash and Bitcoin SV, although we can’t be as optimistic about their prices, as they have fallen by more than 35% over the past 7 days.
Bitcoin Cash at auction
The U.S. General Services Administration (GSA) recently auctioned off Bitcoin Cash (BCH) and Litecoin (LTC) that had been seized from tax evaders.
To be precise, these are 8.93 BTC, 150.2 LTC and 0.00022 Bitcoin Cash. The auction began last 18 June and will end tonight, 22 June. Back in March 2021, the agency had started auctioning several cryptocurrencies, but this is the first time Litecoin is also mentioned.
Thomas Meiron, Regional Commissioner of the GSA, explained:
“Experienced investors recognise a good opportunity when they see it, which is why our auctions have generated so much enthusiasm among the crypto community. With the addition of a new type of cryptocurrency, this promises to be one of our most exciting auctions of the year.”
Meanwhile, in South Africa, the Fintech Working Group (IFWG) has announced that Bitcoin SV will partner with Centbee, a fintech company that will be part of the regulatory sandbox in South Africa.
The regulatory sandbox will provide an opportunity to test new products and services that will push the boundaries of existing regulations while remaining under the supervision of relevant regulators.
IFWG also works with the National Treasury, the Financial Intelligence Centre, the Financial Sector Conduct Authority, the National Credit Regulator, the South African Reserve Bank, the South African Revenue Service and the Competition Commission.
Centbee’s app, Minit Money, will test cross-border payments in Ghana and beyond. Angus Brown, co-CEO of Centbee, explained:
“We are proud to be the first Bitcoin SV business globally to work closely with financial sector regulators in South Africa and are delighted to be selected for South Africa’s first regulatory sandbox.”
Centbee has apparently decided to use Bitcoin SV as a blockchain for cheap and fast transactions.