Digital coins issued by the central bank are considered to coexist with Bitcoin

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Binance chief executive ChangpengZhao said it was “coexisting” then with a more restrictive digital coin era, like Bitcoin and cryptocurrencies such as Ethereum issued by the Central Bank of China. Cho, who runs the world’s largest bitcoin exchange, said digital assets issued by central banks are different from public coins in many ways. In an interview with Bloomberg Television on Monday, the Joes said they don’t offer the same freedom of use and have set a supply cap.

“Most central bank digital currencies have a lot of control,” Cho said. Depending on the difference between the two types of coins, the central bank version may not be appealing to those who are fascinated by the world of cryptocurrencies. He says, “Ultimately, it’s the basic attributes that will be of interest to users.”

Bitcoin and Ethereum hit all-time highs this year as institutional investors and businesses buy cryptocurrencies to improve their balance sheets. In bitcoin news, it hit the ether record high of $ 3,339 on Monday. Bitcoin is only used for digital value transfer, but Ethereum supports the Isa Liam blockchain, which allows for more types of transactions.

Cho said user demands for Ethereum to buy assets such as non-alternative tokens could also increase the price. He says, “All of these examples are currently running, and people need different coins for this new transaction.” That cannot be the reason the ether is rising. “”

Bitcoin News, says about 70% of Binance users are private clients, the rest are institutional investors, he said. It won’t list the company, but Coinbase GlobalInc. There are no traces. He said Binance is making money on its own and that it no longer needs to raise funds.

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CBDC and cryptocurrency

The Bank of England and the UK Treasury have established the Central Bank Digital Currency Working Group (CBDC) to coordinate investigations into potential UK CBDCs. Below is information about the working group. The World Bank has also created two external participation groups. The CBDC Participation Forum is co-hosted by the UK Treasury Department. This allows advanced stakeholders to engage and bring together all strategic non-technical contributions regarding the CBDC. The CBDC Technical Forum attracts stakeholders and collects opinions on all technical aspects of CBDCs from a variety of expertise and perspectives. Please see the following for submission requirements and how to apply for membership in each forum.

The CBDC is fundamentally different from cryptocurrencies and crypto-assets. I wrote an article on the economics of digital currency. However, crypto-assets present risks for investors. Anyone who buys crypto-assets should be prepared to lose all of their money. The Bank of England is a member of the Cryptoasset Working Group, working with HM Treasury and the Financial Behavior Monitoring Organization to develop the UK’s response to decentralized stable crypto-asset ledger technology as the industry evolves.

In addition, the World Bank’s Monetary Policy Committee has announced that the current regulatory framework may need to be adjusted to respond to innovations in the payments industry. Stablecoins are one example.