5 Bitcoin, Blockchain and DeFi News. Cripto247 gives you a summary of the world crypto ecosystem in 5 news.
The Indian government plans to accelerate its cryptocurrency bill . The rule could potentially start the development of a digital rupee while banning “private cryptocurrencies.” The Prime Minister’s Office of India, the Ministry of Finance and the Cabinet secretariat have started to draft the details of the ordinance that will put the Act into effect.
Coinsquare has announced a new mobile trading application designed to simplify buying and selling cryptocurrencies in Canada. Quick Trade , which was officially unveiled on Monday, allows commission-free transactions of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BTC).
A total of 15 trading pairs are available at launch, with “many more digital assets to be added in the coming months.” The app is available on Android and Apple devices along with Coinsquare’s existing mobile app, which is an extension of its web-based trading platform.
The Central Bank of Nigeria (CBN) issued a five-page statement on Sunday clarifying its position on cryptocurrencies after a regulatory advisory to local banking institutions on Friday sent out warnings via social media.
In the statement, the CBN said that Friday’s letter was just a reminder that cryptocurrencies are not legal tender in Nigeria and reiterated a position the bank has held since 2017, without imposing any new restrictions on the industry.
The Bank of Korea published a book on the legal problems of CBDCs – central bank digital currencies. The South Korean central bank released the post on legal issues that should be addressed to ensure the smooth functioning and usefulness of a future central bank digital currency. Additionally, the book calls for revisions to the law to ensure that a future CBDC can operate successfully.
The main financial Malaysian company will invest on a regulated exchange. Malaysian financial services company Kenanga Investment Bank Berhad is dabbling in digital assets.
Kenanga Investment Bank Berhad, one of Malaysia’s largest financial services companies, is moving into the cryptocurrency industry with a new investment and signed a conditional agreement to acquire a 19% equity stake in a licensed exchange.