The IMF believes that central banks are defying monetary law with digital currencies. Users trade Stablecoins from Argentina and Brazil against ETH, BTC, and other stablecoins.
The most important news of recent days includes the ratification of Ethereum 2.0 phase 0 on December 1st. It is the initial phase, the beacon chain, which will not represent any change for the users of the network. It will only keep track of the validators of the new chain.
Regarding Bitcoin, its price recorded a decrease last week after having reached USD 19,000, close to its all-time high of 2017. After that abrupt fall, the price of the cryptocurrency is rising again, with a weekly average of 2, 6%. At the time of writing this article, BTC is trading at USD 18,382, according to the market price of Latin America and Spain.
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Beacon chain is already active since 100% of the required 524,288 ethers (ETH) are already in the corresponding smart contract. Users can now contribute, even if they do not have all the funds, using staking services or pools. In them, traders gather several cryptocurrencies to participate with a validating node.
A non-fungible token (NFT) that honors Diego Maradona is also for sale on the Ethereum network. The OpenSea Digital goods market launched 10,000 units of the token after news of the former soccer player´s death became public knowledge.
In a document that the International Monetary Fund (IMF) recently published, this agency makes reviews existing financial legal provisions. They conclude that a reform of the laws will allow central bank digital currencies (CBDC) to acquire status as legal tender. Although this law authorizes the issuance of currencies in either paper or plastic form, nothing has legal support in digital form, which poses a challenge.
Satoshi Nakamoto may have been in London during the time he was working on the new technology. It is possible to place him there taking into account posts by Satoshi, messages sent to mailing lists, the Bitcoin Genesis block, and files on Internet webpages from the time. Based on schedules and other evidence, the Bitcoin creator’s operation center at that time seems to be the United Kingdom.
Stellar launched two new stablecoins pegged to the Argentine peso (ARS) and the Brazilian real (BRL). The network partnered with international payment company Settle Network to issue the ARST and BRLT stablecoins. The aim is that users will be able to send remittances in those crypto assets.
The Coordinator of the FinTech Observatory of the Circle of Legislators of the Argentine Nation (CLNA), Ignacio Vitale, spoke about the Crypto Asset Regulation Bill, which has just entered the Argentine Congress. He said that they seek to create a regulatory framework that benefits the growth and promotion of the crypto sector.
Chinese security forces seized more than 194,000 BTC from members of the PlusToken Ponzi scheme, a sum equivalent to more than 1% of the total supply of Bitcoin in circulation. They also held funds in Ether (ETH), Litecoin (LTC), EOS, DASH, Ripple (XRP), Dogecoin (DOGE), Bitcoin Cash (BCH), and Tether (USDT). The funds total around USD 4.2 billion. The Chinese court says that the authorities will process the funds under the local law and the revenues will go to the National Treasury.
By Alexander Salazar
