Weekly news review

Hello, community!

🇻🇳 The adoption of cryptocurrencies is fastest in Vietnam, India and other developing countries, and the US and China have lost ground, probably due to tougher attempts to regulate all cryptocurrencies except the digital yuan.

🇨🇳 Small and medium-scale banks in China are preparing to provide their customers with access to the digital yuan. The list of thirty-five organizations includes joint-stock companies, city banks and some rural credit cooperatives.

📑 According to the report of the analytical company, the speed of adoption of cryptocurrencies worldwide has increased 9 times over the past year, with Vietnam, India, Pakistan and other developing countries becoming the leaders of growth.

🇺🇦 And in Ukraine, employees of the Ministry of Digital Transformation are the first in the country to receive a salary in the state digital currency.

🏦 The Central Bank of Ukraine has received permission to issue a digital hryvnia after the legislative body adopted a new law on payment services. The signed law was aimed at adapting Ukrainian legislation to the legal framework of the European Union and integrating the country’s payment system with the EU system.

🇦🇺 🇸🇬 The customs authorities of Australia and Singapore have tested a blockchain-based communication system. The agreement establishes rules for the development of digital infrastructure and the reduction of customs barriers.

😎The chairman of the US Securities and Exchange Commission (SEC) believes that his office may well regulate DeFi projects. Gary Gensler expressed the opinion that the term DeFi itself is “somewhat erroneous”. The head of the SEC noted that some DeFi projects are very similar to peer-to-peer credit platforms, and such platforms are subject to regulation. Therefore, we are waiting for increased control over cryptocurrencies, especially the DeFi industry.

🤝In turn, the congressmen asked the regulators to form a task force to work with participants in the cryptocurrency industry and clarify its regulation.

👐🏻The struggle between the distribution and regulation of cryptocurrencies sometimes becomes like a confrontation between good and evil, but it is obvious that ordinary users do not need a victory, but a compromise that will allow everyone to safely develop in the blockchain economy.

☀️ I wish you all clarity and a great weekend!