Cloud Hosting

As 2020 kicks off it seems likely that government owned crypto will become a mainstay of the sector. Both China and Russia have begun tests for integrating state controlled cryptocurrency into their respective markets. Other major legislative and technological shifts are also underway.

Get comprehensive access to global business, stock market, business news, and trending topics like Bitcoin and cryptocurrency. Download the application for accurate and concise finance news, stock market intelligence alerts and everything you need to know about currencies, commodities, and futures.

China is ready to start testing the digital yuan, said Mu Changchun, Head of Payment and Settlement Solutions Division of the Peoples Bank of China. He noted that the payment system has already passed the functional research and debugging stage, and now there will be the launch of pilot programs.

On around January 1, 2020, the Ethereum network will host Muir Glacier hard fork. It will take place on block 9 200 000 with the goal of delaying the activation of the complexity bomb.

Digital rights (tokens) can be assessed as the subject of a bribe, explained the Supreme Court of Russia in addition to the resolution of the Supreme Court Plenum of July 9, 2013 on judicial practice in cases of bribery and other corruption-related crimes. At the same time, tokens should receive a monetary value on the evidence provided by the parties, and if necessary, a specialist or expert opinion will be required.

The number of open long positions on the Bitfinex exchange has set a new historic high, exceeding 47.5 thousand BTC. This may indicate that the cryptocurrency community is expecting Bitcoin value to rise over the coming weeks after recent troubles.

The Bank of Russia has started to test the stablecoins in the regulatory sandbox. The agency is studying the possibility of issuing a digital ruble and determining its advantages over a more traditional fast payment system.

Craig Wright, who calls himself the creator of Bitcoin, said that on January 1, 2020, he will have access to 1.1 million BTC. As evidence, he presented the court with an email allegedly signed in 2011 by Dave Kleiman, who is considered one of the early developers of the first cryptocurrency.

More than 204 thousand Ethereum came to the hot wallets of the leading trading platforms. 25 thousand ETH was transferred to Binance and about 100 thousand to Huobi. Another 89 thousand ETH was sent to Kraken, while all coins came from one purse. Its owner could be a member of the Ethereum development team or Vitalik Buterin himself.

Senegal, Venezuela, Uruguay, and Tunisia have already presented digital payment systems, and, at the end of December, the Bank of Russia, which is skeptical about the new type of assets, reported on the beginning of testing the stable coins.

__

(Featured image by Clifford Photography via Unsplash)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words believe, project, estimate, become, plan, will, and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in , a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Continued here:
China and Russia begin testing cryptocurrency - Born2Invest