The cryptocurrency-blockchain industry is constantly growing in size. As the size of the industry grows consistently, so are the number of headlines and news from the respective spaces. Therefore, it is important to be aware of the latest and most crucial happenings from around the world involving crypto-blockchain.
The first headline is from the decentralized finance (DeFi) sector where a new stablecoin has been launched within the decentralized finance space. The new token was been dubbed as Djed and has been developed by Coti. The stablecoin will reportedly be operating through the Cardano network and will be offering a permanent solution to transaction fee volatility. The new stablecoin will be used in the DeFi space to make the transaction fees more stable and predictable, making things easier for the users.
The second headline is from Turkey where the Central Bank of Turkey has announced that it has made significant progress in the development of CBDC. The regulator has announced that it has expedited the process of development and research on the digital Turkish lira. For this purpose, the Bank of Turkey has already partnered with three major research & development firms from within Turkey. The names of these firms are Havelsan, TUBITAK, and Aselsan. These companies will be accompanying the Bank of Turkey throughout the development and research phase of the digital Turkish lira.
The third headline is from Japan where one of the major cryptocurrency trading and wallet firms known as Rakuten, has made a huge announcement. The exchange has announced that it has reinstated XRP on its platform. This means that the exchange users will be able to trade in XRP even when there is no final verdict about Ripple. The exchange has announced that Ripple (XRP) cannot be perceived as wrong in the matter until the court gives the final verdict. Therefore, it is going to reinstate XRP and keep it that way, until they receive an update on the matter.
The fourth headline is again from Turkey where the Turkish President has talked about the fate of cryptocurrencies in the country. During a Q&A session with youngsters in Turkey, Erdogan stated that cryptocurrencies are not welcome in the country. They are unregulated, have no physical existence or value, and are highly volatile, which is why they cannot be trusted. On the other hand, Erdogan stated the opposite in favor of the digital Turkish lira. He stated that adopting cryptocurrencies would end up bringing more harm and instability to the country’s economy.
The fifth headline is from Russia where the Russian Central Bank has announced that it will be closely working with local banks to closely monitor crypto-transactions. The regulator has revealed that it wants to protect the funds of the local investors who are eager to invest in cryptocurrencies. The bank clarified that it would simply halt cryptocurrency transactions initiated by investors from their banks to crypto exchanges where there is the possibility of FOMO.