These days, the banking industry is calling on their users to use digital banking payments instead of cash. According to research, some of the more economically developed countries, like Sweden and UK, will move to a cashless society by 2020. However, why are banks so eager to call on their customers to stop using cash?
Wu Xiaoling, former Vice-President of the People’s Bank of China (PBoC) and now chairperson of Wudaokou School of Finance at Tsinghua University, has once again praised bitcoin and other altcoins, saying although they have their pros and cons, they play a crucial role in development.
Texas Securities Commissioner has granted an injunction against Coinvaultpro over illegal and fraudulent crypto scheme bringing the total enforcement actions the state has now effected against crypto companies to 27.
Talks about Central Bank Digital Currencies (CBDC) have been ongoing for a long time, however, we are seeing attempts at practical implementation only now as the coronavirus pandemic rages across the world.
Kentucky Republican Rep. Thomas Massie tried to delay the voting on COVID-19 relief bill by objecting a roll call voting that would not require the presence of all members in Washington. Eventually, he failed to do this as the quorum of the House members blocked his request.
The government of Ukraine will start overseeing all Bitcoin and cryptocurrency transactions, however, the current minister of finance has acknowledged that it is not virtual tokens but fiat currency which villains, fraudulent and corrupt public workers take advantage of.
At the international level, the framework is being composed thanks to the indisputable initiative of Switzerland in particular that on the issues of the new regulation for cryptocurrency / tokenization in financial markets is leading the way and laying the foundations for the construction of many experimental projects and to build those experiences that then allow to "write the actual rules".
The Reserve Bank of India recently announced cryptocurrency is not banned in the country but advised citizens not to rely on it. At the same time, the country seems to be much more friendly towards blockchain, launching a hub in Bengaluru.