Coinatory

On February 7, the Reserve Bank of South Korea warned its counterparts from other countries about the risks that, according to the regulator, are related to digital currencies of central banks (CBDC). A new statement was made shortly after the financial institution announced that it did not intend to issue its own cryptocurrency. CBDC, which can also be understood as a state-supported or government-controlled digital currency, includes a transaction system on the blockchain. In fact, it is a digital analogue of the state fiat currency. However, many analysts criticize this model, believing that the blockchain is more like decentralized cryptocurrencies. Currently, several countries are considering whether the release of CBDC is ... Read more about " South Korean regulator warned against central bank cryptocurrencies " on coinatory.com

After a year of speculation and news about various improvements, Iran has finally introduced Payman digital currency. State-supported cryptocurrency will be used to circumvent sanctions from the United States. Currently, the country"s financial system is isolated from SWIFT, which makes import and export almost impossible. The launch of the state cryptocurrency was announced on January 29 during the annual conference on electronic banking and payment systems in Tehran. The theme of the conference this year was the “Blockchain revolution”. Iran quickly discovered the power of the blockchain and digital currencies, after losing contact with SWIFT and became subject to US sanctions, which led to this bold economic step. The dir ... Read more about " Central Bank of Iran introduced Payman cryptocurrency " on coinatory.com

Iran, whose economy suffers from international economic sanctions, is discussing the use of its state cryptocurrency in the transactions with eight countries. This is reported by the Tehran Times. Representatives of Iran, in particular, are negotiating with colleagues from Switzerland, South Africa, France, England, Russia, Austria, Germany and Bosnia. According to Mohammad-Reza Modoudi , head of the Iranian Trade Promotion Organization, meetings are held in the hope of attracting foreign investors to the country. At the same time, the question of how Iran will be able to carry out international trade under the pressure of international sanctions restricting access to banking is relevant. According to Modoudi, the key to solving ... Read more about " Iran offers monetary transactions in cryptocurrency to eight countries " on coinatory.com

According to CNBC-TV18, a research group set up by the government of India has concluded that all virtual currencies in the country should be outlawed. The task assigned to the employees of the group by the authorities was to create a bill regulating the circulation of cryptocurrencies. The group, headed by Subhash Chandra Garg, Secretary of the Department of Economics under the Ministry of Finance of India, was established in November of this year. After completing its mission, the group handed the conclusion to Finance Minister Arun Jaitley, who must make a final decision. Members of the group believe that the Reserve Bank of India needs a new law to implement the ban on cryptocurrencies: “The law should prescribe punitive m ... Read more about " India on the verge of total cryptocurrency ban " on coinatory.com

According to local media, the Central Bank of Kuwait announced plans to create a national cryptocurrency and payment system. The head of the bank, Dr. Mohammad Y. Al-Hashel, said that in 2019 and 2020, the Kuwaiti National Payment System (KNPS), which is being created in cooperation with banks and payment services, will be deployed in the country. The new system will include a government e-banking service, digital currency and an automated clearing house. According to Al-Hashel, all these initiatives are designed to strengthen stability and improve the efficiency of the financial system, as well as to create the infrastructure necessary to serve the growing economy of the country. For example, a government electronic banking system ... Read more about " Kuwait creates infrastructure for its future national cryptocurrency " on coinatory.com

In fact, banning Bitcoin, the Indian authorities are considering the possibility of creating their own cryptocurrency. According to Quartz, an expert group under the Ministry of Finance may soon recommend to the government the launch of the national cryptocurrency Lakshmi. A senior government official who participated in the panel discussions told: “We are evaluating the government-backed cryptocurrency and crypto-token. And we are looking to develop and encourage our own research and development of blockchain technology” The expert gro ... Read more about " India intends to replace Bitcoin with “divine” digital currency Lakshmi " on coinatory.com

Nicolas Maduro, president of Venezuela announced the launch of the national cryptocurrency Petro, which will be used as a means of payment in international payments. The brief summary of his speech. Residents of the country will be given the opportunity to register on a special portal to get a crypto-wallet, and after that, they will have access to El Petro. From November 5 this year, the cryptocurrency will be available for purchase in exchange for souvenir bolivars - this is all the money that is released after the denomination. The ... Read more about " Petro: public sale date revealed " on coinatory.com

Secretary of the Supreme Council of Cyberspace of Iran reported that various ministries of the country"s government recognized the mining of cryptocurrencies as an industry. Secretary of the Council of Cyberspace Abolhassan Firouzabadi stressed that the mining of cryptocurrency, such as bitcoin (BTC), was approved by major state bodies as an industry. However, the official legislation creating a legal basis for the industry has not yet been introduced in the country. Mr. Firouzabadi said that the mining was recognized as the industry by ... Read more about " Iranian authorities: mining is recognized as an industry " on coinatory.com

It was reported earlier that the Iranian authorities could issue their own sovereign cryptocurrency, with the help of which they try to circumvent the economic sanctions imposed by the United States. As it was recently revealed, the work on the preparation for launching the national cryptocurrency of Iran is almost complete. According to the available information, the Iranian cryptocurrency will be released on the Hyperledger blockchain platform. The authorities have already prepared a document detailing his plans to create a national ... Read more about " Iran disclosed details of the national cryptocurrency " on coinatory.com

Mining was called "new oil" in Kazakhstan and they want to strongly encourage the mining of cryptocurrency. This was told by the vice-president of the Association of the blockchain and the cryptocurrency of Kazakhstan Leonid Muraviev. The official explained that mining, the rise in the price of bitcoin and, of the cryptocurrencies in general, can positively affect the economic development of the country. The potential of Kazakhstan allows providing electricity to about half of all miners that mine cryptocurrency in different countries ... Read more about " Mining in Kazakhstan will be encouraged " on coinatory.com

Participants of the market explained this during the St. Petersburg International Economic Forum. Blockchain technologies and the national cryptocurrency will allow Russia to get a number of advantages in terms of sanctions, experts said on the St. Petersburg International Economic Forum. According to Sergei Zhigarev, Chairman of the State Duma Committee for Economic Policy, Industry, Innovative Development and Entrepreneurship, the blockchain will allow Russia to bypass various sanctions. "The appearance, for example, of the national ... Read more about " National cryptocurrency will give advantages to Russia during sanctions " on coinatory.com