According to information from the Japan Times, the Bank of Japan is preparing to launch its own digital currency by 2023. The fact that most of the payments in the country are already made digitally causes the digital currencies to be supported by the Central Banks. In such a period when Japan's institutional investors flock to Bitcoin, Central Banks' initiation of digital money preparations is seen as a very appropriate step.
PayPal Talks With Paxos, New Cryptocurrency Custody Company
With PayPal's announcement in October that it would initiate crypto payments, it was rumored that the payment giant would buy BitGo, a cryptocurrency custodian. But now the deal turned out to be a failure. PayPal then started negotiating with Paxos, and if an agreement is reached, users will be able to easily purchase Bitcoin and other cryptocurrencies through the Paxos-powered PayPal digital wallet.
Bitcoin Demand Trends Are Increasing
Bitcoin has had a strong rise in the past days, which has made it to reach $ 24,000. In their comments, analysts underline the strong demand as well as limited supply behind this strong rise. "The perfect demand storm is on the ground of a famine unlike what we've seen," said Cole Garner, a BTC analyst, in his comments.
Wall Street Veteran Establishes $ 25 Million Bitcoin Fund
In recent developments, we have often witnessed Wall Street investing in Bitcoin due to the need for inflation protection and the stagnation in other asset types. Recently, a Wall Street veteran and a former White House employee set up a BTC fund with his own investment of $ 25 million, again showing that the demand for the crypto asset is growing.
Ripple Partner Does Not Expect Lawsuit Results To Be Heavy
Financial services giant SBI Group, the top Ripple partner in Japan, shared its views on the Ripple situation, stating that even the worst case scenario will not affect Ripple as badly as thought. Following the statements, he emphasized that 90% of Ripple's customers are located outside the USA.
Statement From MoneyGram
In statements made by Ripple partners SBI Holdings and MoneyGram about the XRP case, it was noted that SBI Holdings supported Ripple, while MoneyGram denied the accusations. In a statement regarding the SEC case, MoneyGram gave the message that we never needed such financing, claiming that it did not directly use the ODL platform owned by Ripple. His self-laundering defense rather than supporting his partner Ripple did not go unnoticed.
Bitwise Sold XRP to Buy Bitcoin and Ethereum
Bitwise announced that they sold all XRPs within the crypto fund and bought them instead of Bitcoin, Ethereum and other cryptocurrencies with a small amount. Bitwise processes more than $ 20 million daily in volume and has a market value of $ 650 million. Before the sale of XRP assets on December 22, XRP accounted for 3.8% of the fund.
Crypto Wallet Proposal from US Treasury Agency FinCEN
The US treasury agency FinCEN has announced a draft law on cryptocurrency payments to prevent people from misusing digital currencies. The digital wallets in FinCEN's new proposals, on the other hand, have the content to report the assets in all kinds of cryptocurrency wallets and keep their records. The goal is to eliminate crimes made on cryptocurrencies.
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