Welcome back to the weekly briefing presenting developments in blockchain and e-money from the Billon's point of view. A lot has been going on in the field of digital currencies, both crypto and CBDCs recently. From a Central American country planning to adopt BTC as a legal tender, to UK and US moving forward with their digital currency projects, to Anonymous targeting Elon Musk for his "cavalier" posts on Twitter... Let's go!
The 'hacktivist' group Anonymous have recorded a message aimed at Elon Musk. They express their frustration with the Tesla CEO over his 'cavalier attitude' to crypto. Why? Because tweets from Musk can send the digital currency plunging and hurt people's investments. So, it is possible that we can see some interesting leaks revealing Elon's dark side. At least, as "Forbes" rightly argues, this Anonymous are real.
El Salvador President Nayib Bukele plans to introduce legislation that will make it the world’s first sovereign nation to adopt bitcoin as legal tender. Bukele broadcast his intentions on a video at the Bitcoin 2021 conference in Miami. In result, the Central American country with a 70% unbanked population will partner with digital wallet company, Strike, to build modern financial infrastructure using bitcoin technology. Learn more at CNBC.
The US Federal Reserve took a step toward developing a digital currency, announcing plans to publish a research paper on the subject. The aim is to gather public comment and get the US play a "leading role" in the development of international standards - said Fed chairman Jerome Powell in a video message. Read more here.
In the meantime, the Bank of England said that payments with stablecoins should be regulated in the same way as payments handled by banks if they start to become widely used. The central bank also said it had made no decision yet about whether to issue its own central bank digital currency or "britcoin". Read more in this Reuters dispatch.
Say goodbye to the new currency. Christian Catalini, the chief economist of Diem (formerly Libra) said the Diem USD stablecoin is only intended as an interim step until the U.S. Federal Reserve issues an American CBDC. “The public sector has a large comparative advantage in developing anything that has to do with stability, money, value preservation and macroprudential policy. We don’t want to change that. In fact, we want to build on and take advantage of that infrastructure to accelerate use cases for consumers both domestically and also globally", Catalini said. Read more on Ledger Insights.
And that's all for now. See you next week!
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