What’s up, crypto enthusiasts? Another week has just passed, so here you have our short summary of it!
It was an interesting week in the crypto world for sure. We have already mentioned about Justin Sun’s investment into the Poloniex exchange (and how he denied the whole case). But it wasn’t the only news from the last seven days. Check our update to learn more!
Tunisia denies launching digital currency
Last week, Russian news agency informed about cooperation between the Tunisian Central Bank and Universa Blockchain in developing a digital currency. According to an agency, it was announced during the FOREX Club Tunisia event. It would make Tunisia the first country where monetary authority would issue a central bank digital currency (CBDC).
However, the Tunisian Central Bank denied those rumors. According to the authorities, they are currently working on the unspecified “proof of concept” project related to the idea of CBDC. The presentation of its prototype during the FOREX Club Tunisia might be taken as an announcement by mistake.
Yet the fact that Tunisia is working on a similar solution is interesting, especially if we notice that this country is already open-minded to the idea of cryptocurrencies. Let’s hope that the project will eventually launch in the near future.
Bakkt expanse on cash-settled futures
We informed you a few weeks ago about the Bakkt launch: a Bitcoin future exchange. Currently, it offers only physically-settled futures for clients. However, this situation may change soon. Adam White, a CEO of the company, announced recently during the CoinDesk’s Invest: NYC, that Bakkt is currently working on cash-settled contracts.
According to CoinDesk, the company is still discussing the implementation of the idea with the Monetary Authority of Singapore (MAS) – yet the exchange is aiming to launch is still in the current year. Such expanse is a good sign for the Bakkt. It means that despite a relatively unsuccessful launch, the company managed to turn in the right direction.
Anonymous donation and Satoshi rumors
Donations are a common thing within the cryptocurrency industry. Generous donors might be very helpful in the process of developing a blockchain project. But when we are talking about the 50 BTC, the case is getting serious.
That’s how much received a privacy Coin Grin on November 11. The money came from an anonymous source, but one of the Grin developers, Daniel Lehnberg, stated that the donor wants the company to “keep working as you did in the past,” without any economic pressure.
The amount of donation was so significant that it quickly sparked the rumors about alleged Satoshi connections, especially when Litecoin founder Charlie Lee informed that coins were mined in 2010, and untransferred until this moment. However, he quickly described his own words as “just a joke.” A pretty unfunny one, if you want to know my opinion – or at least I don’t get it.
John McAfee about crypto firms responsibility
Our favorite crypto philanthropist is also making a cameo in today’s Weekly Update. Known from his usually absurd statements about the industry, this time, he referred to crypto firms’ responsibility. Did he talk with more sense than usual?
Author of the famous antivirus software believes that cryptocurrency developers shouldn’t be blamed for the crimes related to this industry. He further stated that the benefits of people’s freedom are far more significant than “small part criminals are going to play in this technology.”
This libertarian approach is suitable for the person who sailed on international waters just to escape from US taxation. I must admit that blaming crypto entrepreneurs for crimes won’t solve the problem – and McAfee’s words are reasonable in the time of regulatory hell in the American government. But since we are talking about the country where you can get two sentences of life prison just because you were running a website, the shift in the regulatory approach is still far away.
BRICS discussing the idea of unified crypto payment
Last but not least, we have another approach to the concept of government-issued cryptocurrency. This time, the idea was discussed during the meeting of the BRICS group, which consists of five major emerging national economies: Brazil, Russia, India, China, and South Africa. According to Kirill Dmitriev, the director-general of the Russian Direct Investment Fund, the idea of a shared payment system get approval of BRICS Business Council.
The number of government initiatives aimed to issue a digital currency is rising significantly during the last months. We will see how this trend will develop in the future.
Image by Aaron-Schwartz / shutterstock.com