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US Federal Reserve Decides to Start Own Crypto Money

Amerikan Merkez Bankasının Kendi Kripto Parasını Yapma Kararı

St. The researcher at the Federal Reserve Bank of St. Louis, Aleksander Berentsen and his colleague Fabian Schar, issued a statement acknowledging that central banks are easy to form their own crypto currencies.

"However, the key features of crypto currencies can pose a threat to central banks," the researchers said. In the article titled an Central Bank Electronic Money Case and the Crypto Currency Case of the Central Bank u, it was stated that publicly recognizing the identity of the persons involved in the financial transactions is compulsory due to the application of laws.

Financial Crimes Prevention

In order to prevent financial crimes such as drug smuggling, terrorism and money laundering, the police authorities should be able to easily identify the sender and recipient of monetary transactions. If a bank would indeed create a block chain-based crypto currency without permission, it would not be easy to identify the identities of those involved in the proceedings. This; Researchers say that central banks controlled by central governments will not make sense to develop their own counterfeit crypto currencies.

Most likely, a digital currency given by the central bank, decentralized or peer-to-peer (P2Pnot a money transfer system, but a centrally managed electronic money format. Therefore, researchers,the FEDCO”Or any other central bank to create a crypto currency is a bit of a movement.

According to the research report; The central way of providing virtual money was long before the invention of the block chain. In May 2018, Lael Brainard, governor of a Federal Reserve Board; The central bank said the digital currencies (CBDCs) would not be useful because their virtual currency is highly unstable. Brainard therefore stated that they cannot work effectively as an active exchange environment (MoE) or a value store (SoV).
Amerikan Merkez Bankasının Kendi Kripto Parasını Yapma Kararı

American Central Bank's decision to make its own crypto money

IMF President: All Banks Crypto Money Consider Starting the Unit

Brainard's comments came during the Digital Currency Compilation Reading Conference in San Francisco. Brainard is critical for CBDCs; block chain technology, the ability to improve the efficiency and transparency of various business processes.

Although the US Federal Reserve does not plan to develop its own encrypted currency, it is possible for other nations to initiate their own digital currency. As CryptoGlobe reported in November; The head of the International Monetary Fund (IMF), Christine Lagarde, said all financial institutions should seriously consider exploring the feasibility of their virtual currencies.

Lagarde, an experienced French politician and lawyer,

block chain technology is ”safe, cheap and potentially semi-nameless blok. According to him, central banks can benefit from the crypto currencies, he said. He added that he believes cryptaes will help in providing money to the digital economy. He added that digital money can support economic and financial participation, since a large percentage of the world's population still cannot access modern banking services.

Source: Cryptoglob to

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Industry News

SEC Accuses 5 Insiders of BitConnect for Illegal Promotion

SEC, Yasadışı Tanıtım’dan BitConnect İçerisinden 5 Kişiyi Suçladı

About the five people at BitConnect SECIt said it “violated Federal Securities laws.”

The SEC's complaint is that “persons who support the BitConnect Program are sold without registering the Securities with the Commission and registering as a broker-dealer with the Commission as required by law.” BitConnect's lending program is said to encourage people to invest in potential investors, including Trevon Brown, Craig Grant, Ryan Maasen, and Michael Noble, by creating promotional-style videos and posting them on YouTube. It is also claimed that some YouTube channels that make promotions are paid on a commission basis in return for their promotional efforts.

Shortly after his release, Trevon Brown (better known as Trevon James) posted a tweet saying he didn't deny the charges and said the community would "rally" around him.

Lara Shalov Mehraban, Deputy Regional Director of the SEC's New York Regional Office,

“We will try to hold accountable those who make illegal profits by taking advantage of the public's interest in digital assets”

said.

 

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Bitcoin News

Who Has The Most Bitcoin (BTC) Savings?

Bitcoin Analizi, Bitcoin 5.700 Doları Geçti!

According to the research result, the Winklevoss twins own 150,000 BTC, but there are names that own more Bitcoin than them…

Blockchain Center, which investigates who owns the largest amount of Bitcoin (BTC); From Winklevoss twins to scammers, from hackers to "zombie coins", he laid out all the data.

 

On the other hand, the most famous hacking case of the cryptocurrency world, Mt. Gox incident allegedly owned 166,000 BTC.

It is claimed that 30,000 BTC seized from the Silk Road scandal is in the hands of Tim Draper.

Plus Token scammers were said to have 200,000 BTC.

On the other hand, “Zombie coins” are surprisingly plentiful. These tokens we are talking about consist of 1.5 million BTC, which will never be used and will not be spent by anyone forever.

Grayscale's Bitcoin Trust is known as the largest institutional Bitcoin investment vehicle and currently holds over 400,000 BTC of liquidity. Lightning Network only holds 1,000 BTC, while Ethereum (ETH) has another 80,000 BTC locked.

Another 2.5 million Bitcoins are expected to enter circulation over time. Time will tell which other names will be included in this list.

 

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Blockchain News

National Fisheries Institute and IBM's Blockchain Tracking System Food Trust

Ulusal Balıkçılık Enstitüsü ve IBM’in Blockchain Takibi Sistemi Food Trust

The United States seafood trade association, the National Fisheries Institute (NFI), is working with Food Trust, IBM's blockchain supply chain solution, to monitor FoodOnline's reports on June 11 seafood and food-related news.

In the report, they mentioned the new system for monitoring the type of seafood jointly carried out by multiple companies. In addition, NFI members representing harvesters, importers, cold storage, food service restaurants and retail sales were also included in the program.

IBM's Blockchain Tracking System Food TrustSIRF President's Statement

The project is funded by the Seafood Industry Research Fund (SIRF), whose chairman Sean O'Scannlain said in a statement on developments:

“The tracking system is nothing new to the seafood industry, but we'll test how blockchain is a new concept, with IBM's Food Tracking system, helping seafood businesses earn revenue and reduce costs to customers from harvest to distribution.”

The system also states who can access and how long companies can control data, and who will retain control after the chain is loaded. Raj Rao, IBM Food Trust general manager Food Food Trust can change any sector, especially when we have large ecosystems, businesses and organizations ” He said.

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Source: Cointelegraph

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