Uzbekistan is another country that banned buying cryptocurrencies. China confirmed its digital Yuan is not decentralized, Bahamas will use crypto to fight natural disasters!
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Digital Yuan is not Real Crypto!
As the majority of crypto enthusiasts expected, the Chinese digital Yuan is not going to be decentralized, as the government is still banning crypto in the country. Moreover, Mu Changchun, the People’s Bank of China Deputy Director, announced that the Chinese virtual currency is going to be absolutely different from Bitcoin and even stablecoins.
China is not launching its national digital currency to start a war with fiat, but rather to push the US away from global economic domination. President Xi Jinping advocated for the blockchain technology earlier this year but reminded the society that blockchain is not Bitcoin, making it clear that cryptocurrency is not in favor of Chinese officials.
Digital Yuan is not for speculation, stated Mu Changchun and indicated that China’s national digital currency would operate in a two-tier system, with the PBoC on top, and commercial banks allowed in the second tier of the centralized system.
Ether never sleeps!
How will you spend the first day of 2020? Well, the Ethereum community knows the answer. Node operators and cryptocurrency miners have to download the latest version of client software to catch up with the latest Ethereum update… which was scheduled for New Year’s Day!
The organization behind the world’s second-largest cryptocurrency was already criticized for scheduling an update on a holiday. The Ethereum Foundation announced the plan to implement the network upgrade on Jan 1, 2020. This one would come just less than a month after the network’s last Hard Fork in early December, known as Istanbul.
Another one bites the dust…
Cryptocurrencies were banned in Uzbekistan. Local authorities have restricted citizens from buying cryptocurrencies as digital assets. From now on the crypto holders are only able to sell their coins.
Yes, Uzbekistan amended its crypto regulations. Last year crypto media headlined that the country legalized cryptocurrency trading and introduced licensing for exchanges, but according to a new order the citizens will only be allowed to sell crypto assets on registered exchanges. On top of that, performing any transactions with coins that have been acquired through anonymous transactions is banned as well.
Sand Dollar of Bahamas
Project Sand Dollar was launched on December 27 by the central bank of Bahamas. The Sand Dollar is a digital version of the Bahamian Dollar. The initiative aims to make access to financial services more efficient and easy.
The central bank says the project aims to serve a defense against money laundering and terrorism, as well as natural disasters! Digital currency would have the ability to free the country from dependence on cash. Avoiding the cash shipment and cash handling would be particularly useful after a natural disaster.
Crypto YouTube Purge: a Mistake?
The most popular video hosting and social media platform, YouTube, has aggressively started deleting cryptocurrency-related content, by a mistake, as it claims.
Based on Twitter and Reddit threads, YouTube suddenly began deleting a number of cryptocurrency videos earlier this week. Many crypto influencers’ channels were suspended and their content removed and named “harmful or dangerous”.
Crypto Tubers spoke out about the ban on Twitter. After three days the YouTube team answered that the event must’ve been an error that occurred during the review process. The majority of videos were restored and almost all the crypto voices are back by now, but the trust is lost. YouTubers are now looking for alternative decentralized hosting platforms.
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