El Salvador has made history by meeting the payment of an $800 million external bond without help from the International Monetary Fund. This and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
El Salvador pays bonus on time
📍Despite skepticism, El Salvador has made good on its $800 million Eurobond payment, which was due on January 24. Nayib Bukele, president of El Salvador, showed the world that the adoption of Bitcoin as legal tender in September 2021 has not worked against him, despite the volatility that the cryptocurrency has experienced.
On Twitter, the Salvadoran president announced the timely payment of an $800 million bond that was due this Tuesday.
In his post, Bukele highlighted the skepticism and negativity of the international media regarding the fulfillment of this debt, pointing out the possible risk to which the country had been exposed by recognizing Bitcoin as legal tender and by investing part of its treasury in this cryptocurrency.
More than 5.500 BTC circulate on Avalanche Network
📍The Lightning Network's Bitcoin capacity has been surpassed by the number of bitcoins circulating on Avalanche. According to data from Dune Analytics, the circulating supply of bridged bitcoins on the Avalanche blockchain is over 5.500 BTC at the time of writing.
The number of bridged bitcoins in this blockchain are called BTC.by, according to the graph made by @gfkacid, there are a total of 5.580,12 BTC in Avalanche; this is 6% more than the Bitcoin capacity of the Lightning Network scalability network, 5.246,2 BTC, at the time of going to press.
Source: Dune Analytics
UK continues plans for digital pound
📍UK Treasury seeks digital currency director As part of its efforts to regulate cryptocurrencies and digital assets, the UK Treasury is seeking a Director of Digital Currency to join its team, who will be responsible for leading the development of the digital pound and driving initiatives that bring innovation to the money and payments landscape.
La job offer The announcement was published on LinkedIn, where the country's Treasury Department confirmed its commitment to creating a CBDC digital currency, as well as its interest in creating new regulations that will keep the UK payments sector at the forefront of innovation and technological development, the government agency said.
The UK wants to elevate its financial leadership position by regulating the crypto industry. The current government has plans to recognise stablecoins as legal means of payment in the country and embrace NFTs. In addition to this, the country also announced a series of reforms that integrate cryptocurrencies with the aim of optimising its financial system. It is expected that a regulation for the crypto industry in the United Kingdom be announced in the first quarter of this year.
Greater restrictions for banks that manage cryptocurrencies
📍A vote on Tuesday on bank exposure to cryptocurrencies ended up imposing more capital requirements on banks. A proposed amendment proposing changes to the Capital Requirements Regulation for banks with exposure to cryptocurrencies and digital assets has been approved by a majority in the European Parliament.
Its approval will force banks that want to expose themselves to cryptoassets to maintain the highest risk weighting, of 1.250%, in order to minimize the impact of possible crises that may occur in the market in the future.
What this new capital requirement means is that banks that want to hold cryptocurrencies will have to issue one euro of capital for every euro worth of cryptocurrency they hold, in order to back their entire crypto holdings. In addition to this, the amendment prevents banks from any form of leverage.
Sur, the digital currency of Latin American countries
📍The governments of Brazil and Argentina have proposed the creation of a regional digital currency called “Sur.” The digital currency project was presented during the meeting of Latin American leaders in CELAC and already has the support of other countries in the region, such as Venezuela. The proposal arises from the need to overcome economic sanctions and displace the US dollar as the main currency that dominates the market.
Continue reading: Ethereum developers successfully implement Shanghai shadow fork
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