Line, the Japanese instant messaging service, is interested in developing a platform for central banks to issue their own CBDC digital currencies. These and more news in this practical daily summary so that you are always informed with the latest events. Recent developments that occur within the crypto world.
📍 According to a South Korean news outlet, a representative of Line, the Japanese giant for instant messaging services, announced its plans to launch a digital platform for the development of digital currencies issued by central banks (CBDC). The publication indicates that the new platform will allow central banks to develop their own custom digital currencies, and that it is the first non-financial services platform to enter the world of digital currencies.
📍 The Bahamas has become the first country in the world to officially launch a CBDC or Central Bank Digital Currency, its well-known «Sand Dollar». In this way, the Caribbean country takes first place in financial innovation by creating this tool and using it officially. The project that began in 2019 with the help of NZIA has become a reality and now more than 339 thousand Bahamian inhabitants will be able to make real use of this CBDC. The digital currency is closely integrated with the nation's services and allows its use from web and text message interfaces, thinking about the greatest flexibility of use and even aiming for the structure to be active in times of national emergency, such as those that can be experienced due to floods or hurricanes, which usually affect the island.
Without a doubt, this is a great achievement for this small country that shows that the future of money lies in digital money, and that it seeks to transform people's lives to facilitate the attention of their needs at all times.
📍 Cordite Society, a cooperative of banks registered in the United Kingdom to promote the use of blockchain business, announced the launch of its token XDC on the net Rope de R3The developers of this new token guarantee that it is compatible with the regulations established by the FCA of the United Kingdom, and that XDC will open the doors to the development and implementation of various decentralized finance applications (DeFi) running on Corda.
Likewise, Cordite Society ensures that XDC meets the standards of the Financial Action Task Force (FATF), on digital assets, and which guarantees compliance with these regulations to mitigate the risks against money laundering (AML). Therefore, this new digital asset is presented as a better option compared to projects based on Ethereum, which continue to fail to address these regulatory parameters.
📍 Room 77, the well-known and popular Bitcoin bar located in Berlin, Germany, announced the permanent closure of its doors, possibly due to financial losses caused by the COVID-19 pandemic. Jörg Platzer, owner of this bar, published a letter on Reddit to say goodbye to his customers and the community, assuring them that his mission was accomplished. Room 77 had been serving its customers for over 9 years, and its owner is convinced that he became the first bar in the world to accept Bitcoin payments. In addition, Room 77 was the meeting point for Bitcoiners to celebrate their first meeting in the world.
📍 In Colombia, the president of the country's Banking and Financial Institutions Association (Asobancaria), Santiago Castro, announced that the country's financial sector is opening the doors to the world of Bitcoin and cryptocurrencies, , but the government has a strategy to regulate this sector, guaranteeing the control and protection of users. Casto said that the regulatory sandbox that Colombia promotes will allow the government and government entities to monitor the activities and functions carried out by the different exchanges within the country, in order to assess compliance with current legislation.
The executive also clarified that although Colombia is among the Latin American nations with the highest number of transactions in cryptocurrencies and digital assets, most of these are carried out on exchanges and digital platforms that operate outside the country.
📍 The Securities and Exchange Commission (SEC) points to Jillian Sidoti, affiliated with the law firm CrowdfundingLawyers.net, of facilitating the alleged fraudulent dumping of securities of the corporation Blake Insomnia Therapeutics. According to complaint from the SEC, Sidoti sold nearly all of Blake's shares to nominee shareholders using false material and information to conceal the shares that were actually being sold to shareholders affiliated with Blake.
📍 Bruno Le Maire, the French Finance Minister, posted a tweet arguing that blockchain is a reliable technology, but that some cryptocurrencies can be used to commit financial crimes and undermine the policies of some countries. According to the minister, cryptocurrencies can facilitate anonymity, and therefore, be used to carry out fraudulent transactions for the purchase of drugs, weapons, and money laundering.
However, several users took to responding to the minister's statements and defending the characteristics and potential of cryptocurrencies. In response to Le Maire, user Cyril Paglino He argued that the myth that cryptocurrencies are suitable for illicit activities, which has been falsely spread for more than 10 years, must end. Cyril Paglino claims that transactions on a blockchain are secure and traceable and that there is therefore no interest in using them in terrorist activities, unlike cash, which is widely used in this type of activity without any control.
📍 Almost 5 days after OKEx suspended withdrawals due to the absence of one of its executives and signatories, users of the exchange are beginning to express their frustrations at not being able to move their funds. Several users mentioned OKEx's lack of transparency, since apparently its CEO, Jay Hao, He has not been honest about the situation of the exchange, and Hao has also been criticized for having a carefree attitude towards the platform's users.
OKEx handles funds worth billions of dollars, something that has users and clients of this exchange worried, as it does not provide complete or updated reports on the real situation. Several users have stated that they will leave the exchange when it reactivates withdrawals, while others request some kind of compensation for the days of investment lost by having their funds blocked.
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