The ZEN and CAKE tokens both broke an ascending and parabolic support line.

The ICX was rejected by the long term resistance zone at $ 2.

DASH and ZEC are traded within long-term support areas

The majority of crypto markets have declined significantly since February 21, with some having been significantly more affected than others.

In this article, we’ll take a look at the eight cryptocurrencies that declined the most during the week (February 19-26).

After a period of constant rally that started on November 20, ZEN cryptocurrency hit a record high of $ 86 on February 18. Since then, it has continued to decline.

So far, ZEN has fallen 45%, currently trading near $ 46. Price first rebounded to the fibonacci retracement support 0.5 to $ 47.1, but has since fallen below.

Technical indicators are bearish, and price has moved below the ascending parabolic support line it has been following throughout its rise. It is therefore possible that the uptrend has ended and ZEN has now started to correct.

If so, and although a short-term rebound may occur from this sizable decline, ZEN will likely continue to decline at least to the 0.618 fibonacci retracement level, at $ 38.

The XVS has been declining since it hit a record high of $ 102.94 on February 19

This record high was reached at the 1.61 Fib fibonacci extension of waves 1-3. Thus, the entire uptrend (in orange) that started on January 21 may have ended.

This theory is supported by the bearish cross of the Stochastic Oscillator, although the RSI and MACD are still bullish. Nonetheless, the XVS bounced back to the $ 47 support area, creating two long lower strands.

Thus, a rebound towards the area of ​​72 dollars is likely, but the price must regain this level for the trend to be bullish.

The ICX has been in decline from its high of $ 2.69 on February 19. The decline left a long upper wick in its wake, and the ICX failed to close above the long-term resistance zone of $ 2.

Despite the decline, technical indicators are still bullish.

Additionally, the ICX is trading between the 0.5-0.618 fibonacci retracement levels of the last upward movement. It could therefore find support near the current price area.

The most likely scenario would be that the ICX creates some form of structure before breaking through the resistance zone at $ 2.

The ZEC has been down from its high of $ 203 on February 19. Despite the drop of nearly 50%, the price falling to $ 120, the ZEC validated its previous level of advance, located at $ 110.

Technical indicators are still bullish. As long as the ZEC does not close below this level, the trend remains bullish.

If the ZEC rebounds, the next resistance zone would be at $ 345. This is the 0.382 fibonacci retracement level measured from the historical high of price.

The DASH is down since reaching a peak of $ 335 on 19 February. This drop led the price to the $ 210 area, which previously acted as resistance.

Despite the retest of its support, DASH has yet to rebound, currently trading around $ 215. The weekly close is extremely important as the DASH could either create a bearish Japanese overlap candlestick or a long lower wick.

Technical indicators are still bullish, as evidenced by the bullish cross of the Stochastic Oscillator and the rise of the MACD.

If the DASH price rebounds and validates the $ 210 area as support, the next resistance area would be at $ 500.

The movement of the cryptomonnaie CAKE was parabolic since early January 2021. On 19 February, the CAKE peaked over 21.45 dollars. Since then, it has continued to decline.

The decline took the price below its ascending parabolic support. It also caused the Stochastic Oscillator to cross bearish.

While the CAKE has started a small rebound at the 0.5 to $ 11.12 fibonacci retracement level, it is more likely to decline to the 0.618 to $ 8.68 fibonacci level. A horizontal support is also present at this level.

Despite this decline, CAKE was listed on the Kucoin and VCC exchanges last week (February 15-19).

The rise of AVAX has been almost parabolic since its inception. However, the price has declined since it hit a record high of $ 60.30 on February 10.

The technical indicators are decidedly bearish, as evidenced by the bearish cross of the Stochastic Oscillator, the RSI crossing below 50, and the negative MACD.

Despite the possibility that the trend has turned bearish, the AVAX is trading between the 0.5-0.618 fibonacci retracement support levels. Some kind of rebound is therefore likely, even if AVAX were to eventually decline.

Additionally, the AVAX is approaching a long-term ascending support line, which coincides with the 0.618 fibonacci retracement level.

On February 25, Avalanche also announced a partnership with CTSI, an initiative that could have a positive effect on its price.

The cryptomonnaie BCH is down from its peak at $ 775 February 15. This drop took the BCH to the area at $ 470, which it had previously passed.

Due to a deviation below this level, the support area and its recovery is not as sharp as that of DASH and ZEC. It is still likely that this is a retest of the area. Additionally, both MACD and Stochastic Oscillator are bullish.

While the weekly RSI previously generated a bearish divergence (in blue), a decline has already occurred as a result. Likewise, the RSI is potentially generating a hidden bullish divergence (in green).

Posiadacze tokenów DMG udają się na Twittera, aby opłakiwać ich udziały w 75%.

DeFi Money Market, jeden z najwcześniejszych projektów mających na celu wprowadzenie rzeczywistych aktywów do łańcucha, nagle ogłosił wczoraj wieczorem, że „zaprzestał działalności”

„W wyniku dochodzeń regulacyjnych DMM wyłącza się” – czytamy w oświadczeniu na stronie internetowej projektu. „[…] DMM żałuje konieczności tego działania i chciałby podziękować społeczności DMM za wsparcie i aktywny udział w tym projekcie.”

Witryna dostarczyła użytkownikom instrukcje, jak wykupić mTokeny przynoszące zyski i poinformowała, że ​​10 lutego zyski z tokenów spadną do 0%.

„Jesteśmy pewni, że masz pytania, ale niestety nie jesteśmy obecnie w stanie odpowiedzieć na nie” – dodaje oświadczenie.

Projekt potwierdził również zamknięcie w dwóch tweetach:

Wraz z RealT i innymi projektami tokenizacji nieruchomości, Bitcoin Era był jednym z pierwszych, którzy podjęli próbę wprowadzenia rzeczywistych zasobów do krajobrazu DeFi. Oferowali ponad 6% oprocentowanie swoich tokenów zabezpieczone pożyczkami samochodowymi w świecie rzeczywistym. Projekt został uruchomiony przy wsparciu zbudowanej na zamówienie wyroczni Chainlink i przy wsparciu inwestora-miliardera Tima Drapera.

Niektórzy spekulowali, że kontrola regulacyjna, do której zespół odwołuje się w swoim ogłoszeniu, może być powiązana z nieudanym uruchomieniem tokena . Niedługo po sprzedaży tokenów pojawiły się raporty, że dokumenty przesłane przez firmę w celu udowodnienia, że ​​zabezpieczenie pożyczki nieumyślnie ujawniły tożsamość posiadaczy pożyczki.

Crypto sleuths sporer en overførsel, der var vidne til, at en stor Bitcoin-hval pludseligt dræner en BTC-tegnebog til hundreder af millioner af dollars.

Den højrullende kryptoenhed flyttede lige 17.473 BTC til en værdi af $ 615 millioner mod et gebyr på ca. $ 3.

Transaktionen blev oprindeligt set med det automatiske distribuerede ledger-overvågningsværktøj kendt som Bitcoin Block Bot.

Ifølge de seneste block explorer-data flyttede hvalen BTC-formuen til tre separate adresser.

En tegnebog med i alt 48 transaktioner modtog 360 BTC. En anden adresse med i alt fem transaktioner indsamlet 17.113 BTC. En tredje adresse med to transaktioner modtog mindre end 1 BTC.

De involverede adresser har ingen kendte bånd til et firma, der investerer eller arbejder i kryptoindustrien. Desuden er den pågældende Bitcoin Bank ikke blevet flyttet til nogen kendte adresser, der ejes af kryptobørser, hvor den kunne handles og sælges på det åbne marked.

BitInfoCharts viser, at den massive hval oprettede den originale tegnebog den 15. januar og modtog en betydelig mængde BTC samme dag.

Med Bitcoin-handel over $ 36.000 siger on-chain analyseplatform WhaleMap, at hvaler synes at være interesserede i at købe BTC-fald på niveauet $ 30.000.

”Sådan handler du hvalbobler for alle, der undrer sig. Der skete også store tilstrømninger til hvalpunge på $ 29.314.

De vil beskytte deres BTC … Dette skal være stærk støtte til Bitcoin på kort sigt og forhåbentlig på lang sigt. ”

Elektronik Kæmpe Mitsubishi Building Blockchain-platform til styring af peer-to-peer-energihandel

Mitsubishi Electric går sammen med Japans førende videnskabs- og teknologiuniversitet Tokyo Tech for at opbygge en blockchain-baseret platform til peer-to-peer (P2P) energihandel.

Projektet er designet til at give folk en optimeret måde at købe og sælge overskydende energi på.

Partnerne siger, at de designer det nye blockchain-baserede økosystem for automatisk at optimere ordrer baseret på udbud og efterspørgsel.

”Hvis målet er at maksimere den mængde overskydende elektricitet, der er tilgængelig på markedet, kan der søges efter det bedste tilbud-bud-match med hensyn til dette fælles mål. Hvis der findes et overskud, vil handelsprisen sandsynligvis falde i henhold til markedsprincipperne …

Hvis prioriteten er overskud fra forbrugere og forbrugere, kan det delte mål justeres for at øge det samlede overskud eller hæve det laveste overskud af alle forhandlere og forbrugere. ”

Mitsubishi siger, at dets system er designet til at behandle et stort antal transaktioner med minimal krævet computerkraft.

Mitsubishi og Tokyo Tech begynder at teste det nye system i april.
Gå ikke glip af et beat – Abonner for at få krypto-mailadvarsler leveret direkte til din indbakke

The United States Securities and Exchange Commission (SEC) is taking legal action against Ripple for the sale of unregistered securities for $ 1.38 billion, via XRP. As a direct consequence, the price of XRP collapses and the delisting of cryptocurrency begins on some platforms.

SEC goes to war with RIPple

It’s now official, the U.S. Securities and Exchange Commission (SEC) is taking legal action against Ripple and its cryptocurrency, XRP . Ripple CEO, Brad Garlinghouse , had already informed the community about this yesterday , saying that the SEC is wrong.

The SEC therefore files a lawsuit against Bitcoin Revival, its CEO Brad Garlinghouse and its co-founder Chris Larsen . The latter are accused of having carried out an unregistered sale of securities for an amount of 1.38 billion dollars , via XRP .

“Ripple has raised funds, starting in 2013, through the sale of digital assets known as XRP in an unregistered securities offering to investors in the United States and around the world. Ripple is also said to have distributed billions of XRP in exchange for non-monetary consideration, such as labor and market making services, ”the complaint alleges.

The SEC also adds that Brad Garlinghouse and Christ Larsen have reportedly failed to record their personal XRP sales, estimated at $ 600 million . Ripple had been in the SEC’s sights for a long time, with the company even receiving warnings even before the public rollout of its project:

“Ripple engaged in this illegal offering of securities from 2013 to present, although Ripple received legal advice as early as 2012 that in certain circumstances XRP could be considered an ‚investment contract‘ and therefore as a security under federal securities laws. “

For his part, Brad Garlinghouse believes that this is not only an attack on Ripple, but against the entire cryptocurrency industry. He believes that the SEC is doing everything to curb innovation in the United States in terms of cryptocurrencies, and that this action could be followed by others affecting various companies in the ecosystem.

Is this the end for Ripple and its XRP?

The impact on XRP is already considerable. The price of the cryptocurrency has been in free fall since yesterday and is approaching the levels of last November, with the bull run of the market. At the time of writing these lines, the XRP loses -40% over the last 24 hours , from $ 0.50 to $ 0.30 :

As a direct result of the SEC’s attack on Ripple, the Hong Kong-based exchange OSL has suspended all trading markets including XRP until further notice. For the moment, it is impossible to know if other trading platforms will also make this decision.

However, many believe that all exchanges with branches in the United States are likely to delist XRP, so as not to offend the regulators .

The battle between the SEC and Ripple is likely to be fierce and full of twists and turns. Obviously, Ripple plans to fight with all the means at its disposal. Regardless, and even if the outcome of this case is favorable to Ripple, the reputation of the company and of XRP is once again tarnished.

XRP will be hard pressed to recover, and if further delistings occur in the coming days on larger platforms like Coinbase or Binance , the result would be catastrophic for the cryptocurrency.

In 2020, DeFi laid the building blocks for an entirely new financial system: payments, loans, asset issuance and swaps. This was achieved through a combination of stablecoins, automated market makers, liquidity mitigation, dynamic redistribution Profit Revolution scam of the liquidity pool, smart asset management, flash loans and more.

The growth of DeFi in 2020
Today we are looking at one of these aspects responsible for the explosive growth of DeFi in 2020: automated market makers (AMMs).

Growth of fixed value at Defi in 2020

Central Limit Order Books (CLOB) are the backbone of modern crypto exchanges. They work by aggregating bids and requests (limit orders) from market makers at different price points for different asset pairs. CLOBs generally work reasonably well with centralised exchanges, but the CLOB model breaks down when the entire exchange moves to the blockchain and goes decentralised.

CLOB on DEX does not work
The reasons are simple: every bid and every question, and every adjustment to those bids and questions, incur transaction costs (on Ethereum that is gas) because they are recorded on the blockchain. In addition, every order can theoretically get a front-run, as orders are prioritised based on how much transaction costs you pay instead of how fast you are. Some projects are working on layer 2 solutions to these problems with on-chain order books, but at the moment it is too expensive to manage an order book on-chain.

Automated market maker
Uniswap is a decentralised stock exchange that uses an automated market maker. The concept was first proposed by Vitalik Buterin at the end of 2016 and developed by Bancor in mid-2017, but Uniswap made AMM mainstream. SMPs solve the problem of maintaining a CLOB by locking trading pairs‘ assets into liquidity pools. There are several types of SMPs today, but they all use something called a ‚market maker with constant functions‘ to price assets and ensure that each order is filled for each pair listed.

For example, the ETH-DAI pair on Uniswap contains equal amounts of ETH and Dai at a ratio of $600: $1. If there is a $12,000 liquidity pool to trade against, this means that 10 ETH and 6,000 Dai are locked into the SMP.

Criticism of SMP
The criticism of SMPs was that they were only good for small transactions. Trying to execute a USD 1 000 transaction for ETH in a market with only USD 12 000 liquidity would have a huge impact on the price of Ethereum. This is quite separate from trading on centralised exchanges.

Enough advantages
However, despite possible slippage, SMPs are an innovation that allows you to bypass large, central stock exchanges. Not only for safety reasons (self-care), but also for convenience and accessibility. SMPs do not have as much compliance overhead for every market they support, and anyone can immediately start a market for a new asset on Ethereum. Centralised exchanges are no match for this. SMPs are very fast and convenient for trading synthetic tokens (think of a synthetic bitcoin on Ethereum).

Putting everything into perspective
Ryan Selkis of Messari says that decentralised fairs are not nearly as popular as centralised fairs. He makes a good comparison. Selkis sees SMPs versus CLOB in the same way as Bitcoin versus global currencies. Bitcoin is a bad currency compared to the US dollar, but a very good currency compared to the Argentine Peso or Venezuelan Bolivar or Sudanese pound. As bitcoin strengthens and overtakes other currencies, it rises on the currency rating.

Similarly, Uniswap is a ‚bad exchange‘ compared to Binance, but a very good exchange compared to centralised exchanges outside the top 50 in terms of volume. It is only a matter of time before Uniswap is in the top 10 in terms of volume. In the future, most liquidity for most markets will flow through decentralised exchanges, and SMPs will be a crucial part of that story.

Bitcoin har haft en fantastisk körning. Är det nu den perfekta tiden att komma in i BTC-längder?

BTC har varit i en icke-korrigerande hausseartad rally ända sedan den sjönk den 12 mars 2020. De intermittenta tillbakadragningarna som vi såg var försumbara på en högre tidsram.

Bitcoin varje månad

Som vi kan se i det månatliga Bitcoin-diagrammet, sedan mars, av åtta månader fram till november, har bara en månad varit mycket korrigerande, vilket var september. Juni korrigering var obetydlig.

BTC varje vecka

Som vi kan se i veckodiagrammet ovan, efter den 12 mars, var det en kraftig nedgång i veckan efter den 31 augusti där vi såg en 20% dragning. Bortsett från det har det inte funnits några signifikanta pull-backar.

Ett sådant rally följs vanligtvis av en korrigering. BTC närmar sig sitt höga pris på $ 20.000, vilket kan vara en av de stora motståndsnivåerna och förmodligen ett tillfälligt stopp för detta imponerande rally.

Alla som föll till FOMO 2017 i BTC och köpte på nuvarande nivå kan relatera till vad som kan följa nästa. Så, är det här rätt tidpunkt för att komma in i BTC-längtar? Tekniskt sett är svaret NEJ. Låt oss ta reda på vilka som skulle vara bra startpunkter för BTC-längtar.

Låt oss granska det dagliga diagrammet.

• BTC dagligen
• Support / motståndszon:

Det finns tre zoner som skulle vara intressanta att göra långa beställningar.

Den första köpzonen skulle vara i supportzonen för $ 17 600. Andra platsen att lägga till längder skulle vara vid 20-dagars EMA till $ 16 700, och om vi kan se en ytterligare nedåtgående rörelse kan vi börja lägga till våra slutliga längtar på $ 15 600-området.

Fibonacci:

Sammanträffande, om vi plottar fibrerna från den högsta tiden till de senaste ackumuleringszonerna från maj till augusti, sammanfaller fibren 0,786 och 0,618 fib med stödzonerna på $ 17,600 och $ 15,600, vilket skulle vara en bättre risk att belöna långa områden .
Vad händer om vi inte går tillbaka och bryter det höga priset?

Ja, det är definitivt ett möjligt scenario, men risken att längta här är mycket högre jämfört med belöningarna. I scenariot där Bitcoin bryter priset på $ 20.000, skulle en mer försiktig metod vara att placera längtar när BTC bryter över $ 20.000, gör ett steg högre och testar sedan $ 20.000 för att vända det från motstånd till support.

Sammanfattningsvis är det en mycket högre risk att längta här än att långt efter BTC:

Bryter nedåt mot tidigare stöd.
Bryter uppåt mot $ 20.000 + (okänd hög) och faller tillbaka mot $ 20.000.

Bitmain and MicroBT report that several of their miners will be sold out by spring 2021 due to high demand.

In the meantime, search Bitmain’s official websiteaccording to the miners Antminer S19 Pro and T19, you will find out that all pre-orderers have to wait for their orders until May next year

But not only Bitmain is currently in trouble when it comes to the procurement of mining equipment. The company’s main competitor, MicroBT, reported that the WhatsMiner M30 was sold out.

A company spokesman spoke out about the product shortageThe Block:

We continue to work hard to get more chip capacity from Samsung to accommodate more pre-orders for future inventory.

The sold out miners can only be purchased directly from the manufacturer, but only with a significant price premium. The Antminer S19 was originally priced at $ 3,000. This has now leveled off at US $ 3,800-4,100. Pre-orderers were able to purchase the miner for 2,684 US dollars.

The currently soaring Bitcoin price triggered a real hype. It sometimes happens that customers want to buy 1,000 miners at once, explained Mike Colyer, CEO of Foundry, a subsidiary of the Digital Currency Group .

I dag er fredag ​​den 13. og kun den anden forekomst af den uhyggelige dato i det, der har været et katastrofalt år. Da uret vendte sig til den nye dag, trak Bitcoin-prisaktion sig lidt tilbage for første gang i uger.

Har de to ting noget med hinanden at gøre? Vi har analyseret tidligere forekomster af den overtroiske dato for at se, om der har været nogen indvirkning på kryptovalutaen, og der er en overraskende sammenhæng. Tjek, hvordan fredag ​​den 13. kan påvirke Bitcoin i dag og resten af ​​kalenderåret.

EN KORT HISTORIE OM FREDAG DEN 13. OG HVORDAN DET KAN PÅVIRKE CRYPTO-MARKEDER

Med Halloween for mindre end to uger siden kunne „Fredag ​​den 13.“ muligvis frembringe minder fra 1980’ernes slasherfilm om den hockeymaske-iførte Jason Voorhees. Men overtroene relateret til datoen dateres muligvis tilbage til middelalderen.

En oprindelseshistorie henviser til nordisk mytologi og et scenario, hvor 12 guder mødtes i Valhalla, da en ubuden 13. gæst dukkede op – den nordiske gud Loki – og forårsagede ondskab.

Andre potentielle oprindelseskilder inkluderer henvisninger til Jesus og kristendommen, Tempelridderne og endda en roman fra 1907 med titlen „Fredag ​​den trettende“, hvor en børsmægler brugte overtro til at skabe panik på Wall Street.

Med en roman skrevet om, hvordan datoen kunne påvirke markederne, kunne der faktisk være mere ved overtro, da Bitcoin tager en pause for første gang i næsten to måneder med kraftig opadgående? Interessant nok har det daglige lys hidtil dannet en doji, der signalerer „ubeslutsomhed“ på markedet. Kunne investorer være uhyggelige eller føle sig usikre, hvor den overtroiske dag rullede rundt? Eller er nummer 13 virkelig så uheldig?

KUNDE EN BITCOINTENDENS SKIFTES MED DEN ULYKKEDE DAG?

Folk finder ofte stærk symbolik i tal. 13 betragtes som særlig uheldig, men heldig for andre. Mange bygninger er opført uden 13. etage. Næste gang du træder ind i en elevator, skal du kontrollere det selv.

Triskaidekaphobia er det videnskabelige navn for frygt og undgåelse af tallet 13. Det er hvor vigtigt dette antal kan være for nogle. Navnet af frygt for selve fredagen den 13. dato kaldes paraskevidekatriaphobia.

Med ægte, diagnosticeret frygt for nummer 13 og betydelig overtro i medierne være nok til potentielt at påvirke masserne? Det er muligt, og Bitcoin-prisdiagrammet afspejler også denne teori.

Tre ud af de sidste fire fredag ​​den 13. datoer er blevet føjet til diagrammet ovenfor, hvor de to foregående fungerer som omdrejningspunkt for en trendændring. Den seneste fredag ​​den 13. var dagen efter sort torsdag, og den dag Bitcoin begyndte sin opsving til $ 16.000.

Med endnu en fredag ​​den 13. i dag, der sker øverst på et rally, der først begyndte den sidste fredag ​​den 13., kunne dette være en mulig kortvarig tilbageførsel i Bitcoin? I 2021 er der kun en fredag ​​den 13., og det er i august. Marker dine kalendere, og hold øje med, om der var nogen ændring i tendensen fra i dag, og brug den uheldige overtro til din fordel i fremtiden, hvis du kan.

Um tribunal dos Estados Unidos em Seattle condenou um ex-engenheiro da Microsoft a 9 anos de prisão após considerá-lo culpado de 18 crimes federais relacionados ao seu elaborado esquema para fraudar a gigante da tecnologia de US $ 10 milhões. Ao proferir a sentença, o tribunal critica Volodymyr Kvashuk, um engenheiro de software e cidadão da Ucrânia, por tentar mascarar evidências digitais por meio do uso de misturadores de bitcoin e do uso ilegal de contas e senhas de colegas de trabalho para ajudar neste esquema.

Caso sofisticado

De acordo com os autos do tribunal, Kvashuk, um cidadão ucraniano, foi condenado em fevereiro de 2020 por várias acusações de fraude eletrônica, lavagem de dinheiro, roubo de identidade e apresentação de declarações fiscais falsas.

Em sua reação à sentença, o procurador dos EUA Brian T Moran homenageia „parceiros de aplicação da lei e o Ministério Público dos EUA“ por prevalecerem no caso que „exigia habilidades tecnológicas sofisticadas para investigar e processar“. Comentando sobre a severidade da punição, o Procurador dos EUA afirma:

“Roubar de seu empregador é ruim o suficiente, mas roubar e fazer parecer que seus colegas são os culpados aumenta o dano além de dólares e centavos.”

De acordo com documentos apresentados ao tribunal, Kvashuk, que estava envolvido no teste da plataforma de vendas de varejo online da Microsoft, é acusado de „usar esse acesso de teste para roubar ‚valor armazenado em moeda‘ (CSV), como cartões-presente digitais.“

Estilo de vida pródigo

Usando a receita das vendas de cartões-presente, Kvashuk “comprou uma casa à beira do lago de $ 1,6 milhões de dólares e um veículo Tesla de $ 160.000”. À medida que os roubos aumentavam, Kvashuk começou a “usar contas de e-mail de teste associadas a outros funcionários” para encobrir seus rastros. O documento adiciona:

Ele usou um serviço de ‚mistura‘ de bitcoin na tentativa de esconder a origem dos fundos que acabaram sendo transferidos para sua conta bancária. Ao todo, durante os sete meses de atividade ilegal de Kvashuk, aproximadamente US $ 2,8 milhões em bitcoin foram transferidos para seu banco e contas de investimento. Kvashuk então preencheu formulários falsos de declaração de impostos, alegando que o bitcoin tinha sido um presente de um parente.

Timothy Lane says the central bank is developing a CBDC at „a good pace“.

According to an October 15 report by The Canadian Press, Timothy Lane, deputy governor of the Bank of Canada, or BoC, said central banks should have their own digital currency ready in case regulators block the Facebook Pound token. He also pointed out that this asset is important as a possible solution to the economic realities due to the COVID-19.

Lane spoke at an online panel discussion organised by the Central Bank Payments Conference, indicating that the Bank of Canada has been developing a digital central bank currency, or CBDC, at „a good pace“. He said the bank would need to consult on what Canadians expected from a Crypto Legacy, but added that Facebook’s efforts to introduce Libra could help improve cross-border payments. In addition, he said it could help the unbanked and under-banked become part of the global economy.

„That is the heart of the question: is the answer Libra or is it something that central banks do? „If we say, well, it should be (a CBDC and) not Libra, then we have to have something ready so that, if a decision is made, the central bank’s digital currency is the way to go, we are really ready to launch it.

The Lieutenant Governor’s comments are a change from those of February before the pandemic, when he stated that „there was no convincing case“ for the bank to create a CBDC. Canada’s central bank also recently released a report calling CBDCs „risky“, given the competition between crypto-currency exchanges and banks, and how digital currency is used for transactions.

Global regulators, including the G20’s financial watchdog, the Financial Stability Board or FSB, recently published regulatory recommendations opposing global stablecoins such as the Pound. The group stated that such stable currencies could become „systemically important“ in all jurisdictions, undermining the ability of governments to conduct monetary and investment policies within their borders.

Cointelegraph reported on October 12 that seven G20 members representing the world’s largest economies said they would initially oppose the launch of global stable currency projects, which would include Libra, pending adequate regulatory oversight. The group of seven has expressed concern about how to ensure that digital assets comply with anti-money laundering laws, consumer protection rules and other regulatory issues.

„The progression here is not to disrupt the system or compete with it, but to increase the payment option for consumers and to complete the system,“ said Libra Association policy director Julien Le Goc, in the same online panel as Lane.