Analysis Crypto by Thebittimes.Com

A Brazillian Congressman has proposed the creation of a national Bitcoin (BTC) reserve in Brazil called Bitcoin Sovereign Strategic Reserve (RESBit – Reserva Estratégica Soberana de Bitcoins , in Portuguese), aiming to diversify the country’s Treasury. According to Portal do Bitcoin , a local media outlet, the politician, Eros Biondini, filed the proposal on Monday, November 25.  “The creation of RESBit is a strategic measure that positions Brazil as a leader in the new digital economy, reducing economic risks and expanding opportunities for technological and financial development. The approval of this project is essential to guarantee the country’s economic sovereignty and align Brazil with global innovation trends,” wrote the deputy in the justification for the bill. Picks for you Trading expert believes this is just the beginning of X...

The National Bank of Georgia will launch mandatory supervision of virtual asset service providers starting from Sept. 1, 2023. Georgia, a major crypto currency-friendly country among Post-Soviet states, is preparing to start monitoring crypto firms to prevent money laundering and comply with sanctions. The National Bank of Georgia plans to launch mandatory supervision of virtual asset service providers (VASP) starting Sept. 1, 2023. NBG’s acting governor Archil Mestvirishvili said that the new regulatory measures will help the country combat money laundering, the local news agency InterPressNews reported on May 31. In line with Anti-Money Laundering considerations, the upcoming VASP probe is expected to increase the country’s compliance with Western sanctions against Russia and Belarus. Mestvirishvili noted that NBG is among the main authorities that supervise compliance with those sanctions. The supervision was especially active last year when global jurisdictions like the United ...

Undeterred by the reported slow adoption of the Nigerian central bank digital currency, the deputy governor of the Reserve Bank of Zimbabwe, Innocent Matshe recently said his institution will proceed with plans to launch its own digital currency. In addition to sending a team to learn from the Central Bank of Nigeria’s experiences, Zimbabwe has also reportedly sent teams with a similar mission to countries like China and Ghana. ‘Jury Is Still Out’ on CBDCs The reported slow embrace of Nigeria’s central bank digital currency (CBDC) or the e-naira will not dissuade the Zimbabwean central bank from working on its own CBDC, Innocent Matshe, the bank’s deputy governor has reportedly said. He said that while the “jury is still out,” on CBDCs, his institution will still proceed with its digital currency launch preparations. As previously reported by Bitcoin.com News, fewer than anticipated Nigerian adults have downloaded or are using the CBDC when making pa...

On October 25, Nigeria commemorated the first anniversary of the Central Bank of Nigeria’s e-naira, even as more residents continue to snub the digital currency . In a move aimed at boosting the use of the CBDC, the central bank is offering a 5% discount to motorized rickshaw drivers and passengers that use the e-naira. Kingsley Obiora, a deputy governor at the CBN, suggested that the digital currency needs “a little push from the government” if it is to be widely embraced. E-Naira Rollout at Phase 2 As Nigeria commemorated the e-naira’s first anniversary on October 25, critics have claimed that the average Nigerian has still not embraced Africa’s first central bank digital currency (CBDC). They point to the e-naira wallet’s relatively low number of downloads as well as the still-growing use of cryptocurrencies when remitting funds or making cross-border payments. In August, Bitcoin.com News reported that between January and June this year, peer-to-peer bitcoin ...

Source: AdobeStock / prima91   Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news . __________ Security news A new Visa report found that, beyond attacks on traditional currency, threat actors are employing new tactics to defraud cryptocurrency users, including new malware focused on browser extension wallets for crypto users as well as innovation in phishing and social engineering schemes. Crypto bridge services are also a target. From January through February 2022, three sizeable thefts exploiting vulnerabilities in various bridge services netted cyber thieves over $400 million, they said. Legal news Bitstamp announced that it was appointed by Mt. Gox Trustee as one of four designated crypto exchanges to assist in the repayment procedures to Mt. Gox creditors. Bitstamp has released a complete description of how those affected can register to recla...