From Cuba to China, Top News in Crypto Segment

There is so much happening in the space of cryptocurrency and blockchain technology, and here are our top picks from the technology domain to help you keep pace with the rapidly changing cryptocurrency scenario.

1. Cubans rank second in googling cryptocurrency: Cuba has been ranked second when searching the word cryptocurrency on Google, thereby revealing the high interest of Cubans in digital currency. Given that people in Cuba do not enjoy using Union Pay, PayPal, MasterCard, Visa, or Stripe, this news should not come as a surprise for many. The Covid-19’s impact has only made the transactions process more troublesome for Cubans, and this explains the arriving interest of the people in the cryptocurrency and digital space. We had already witnessed the launch of the Bitcoin exchange in Cuba in April month this year by Mario Mazzola.
2. VASPs will work under statutory regulations in the Cayman Islands: The Cayman Islands government has decided to come up with the regulation that would oversee the working of the virtual asset service providers (VASPs) in the country. These VASPs would function under the framework of the country’s Ministry of Financial Services, which has already executed phase one of the policy framework. Phase 2 of the process, on the other hand, is expected to come into effect from June 2021 onwards.
3. Australia is working on a central bank digital currency project: The Reserve Bank of Australia is collaborating with the Commonwealth Bank to find the digital currency’s potential. This is being done as the country’s central bank is looking forward to launching its digital currency. In this deliberation process, an investment company and blockchain software organization are also involved.
4. Bitcoin becoming part of Halloween Celebrations: Bitcoin has also become part of the Halloween celebration as a cryptocurrency user. Brad Mills distributed two Bitcoin gift cards worth $400 to the kids in Canada. Mills filled the gift box of Halloween with candies and two Bitcoin gift cards and filmed the reaction of kids who got these cards. He also posted kids’ reactions on Twitter later.
5. China’s digital Yuan project is going strong: The pilot program regarding the launch of the digital Yuan in China is accelerating. According to the statistics published by the People’s Bank of China, a transaction amount of 2 billion Yuan has been processed through 4 million transactions. Currently, four states in China are part of this pilot project, and enthused by the response; the bank has decided to include 5 more states in the project.