When large financial companies, air carriers, fast food leaders, and marketplaces are introducing cryptocurrencies into their services, and the number of Bitcoin wallets accounts for the tens of millions (in EDC Blockchain, this figure exceeds 1,3 million), government authorities cannot ignore the cryptocurrency issue. Let’s take a look at current events in the field of cryptocurrencies in the TOP-10 countries.
The Swedish authorities are considering the creation of a krone-pegged token, as many countries are already working on such a project. The Treasury Department is analyzing the implications of the regulated token launch and plans to release the report in November 2022.
Singapore, one of the world's largest financial centers, ranks third among the richest countries in the world. The country's main bank, DBS Bank, is launching a cryptocurrency exchange that will support tokenized securities and a range of cryptocurrencies, such as BTC, ETH, BCH and XRP. The exchange will only be available to institutional investors.
Bank Hapoalim, a large Israeli bank, has begun cooperation with the Digital Bank Guarantee platform, which uses blockchain to regulate the process of bank guarantees and secure the debtor's obligations to the creditor.
Italian bank Banca Generali, a branch of the well-known insurance company Assicurazioni Generali, plans to launch a cryptocurrency custody service in 2021.
Spain's second largest bank, Banco Bilbao Vizcaya Argentaria, is planning to launch cryptocurrency trading and custody services in a few months.
The Swiss stock exchange SIX wants to create a cryptocurrency gateway by providing access to cryptocurrency through the SIX Digital exchange. Thanks to this, banks will be able to freely conduct cryptocurrency settlements.
The French authorities want to oblige exchanges and exchangers to identify users in order to prevent fraudulent schemes and terrorist threats.
The news site RunRun.es has received classified data from the Venezuelan Central Bank, which says that the supply of food and household goods to the Venezuelan market is funded using Bitcoin. Deliveries are made mainly from Iran and Turkey.
The Russian president signed a decree according to which officials and parliamentary candidates must provide information about the digital assets that they, their spouses or children own. The data must be provided from January 1st to June 30th, 2021.
The American bank Wells Fargo spoke negatively about Bitcoin, calling it speculative, and compared it with the gold rush of the 1850s.
The peculiarity of cryptocurrencies is that their value depends on the interest of users and investors. Around the time the first coronavirus outbreak hit, people started looking for an alternative to save money and found it in the form of Bitcoin and other digital assets. As a result, the crypto market began to recover quickly from the fall in 2018.
Back in November this year, the value of the EDC coin was $0,03, while in early December it increased to $0,09, thus, today it is traded at $0,06. Each coin, including EDC, has the value that you offer, while the other person accepts it. The higher the demand for a coin, the more it is used, the larger its shortage, the higher the value of the coin. To this end, EDC Blockchain offers blockchain tools such as staking, which brings users daily rewards, creates its own ecosystem for small business owners, and expands the application of the EDC coin.
In a financial crisis, this is more relevant than ever.