SAINT KITTS AND NEVIS – It was a significant week for Bitcoin since it observed that the before all else Bitcoin Independence Day. The previous day or two additionally highlighted the advancement made from the cryptocurrency space, together with China considering using its very own digital money.
November 1-5 is considered while the state Bitcoin Independence Day. It’s additionally the first anniversary of this BSV ticker, the only real cryptocurrency that follows the protocols that are original from the Satoshi white paper.
The Bitcoin ecosystem and currency has experienced a great deal of changes and helped build up a solid eco system. China is certainly one of various countries which are considering building their particular cryptocurrency. Nevertheless, the Asian super power educated the world that while it’s an electronic virtual yuan, it hasn’t released everything yet.
The People’s Bank of China (PBoC) also put out a warning that China and its central bank is not connected to any company peddling digital yuan. The PBoC says these sales are fraudulent, and the bank will release an official announcement once its cryptocurrency is ready. They also added that it is still years away from happening.
It’s a different case with the Royal Bank of Canada (RBC). One of the country’s largest bank is reportedly designing a product that would provide its clients with the opportunity to trade in cryptocurrencies directly. The news appears to have been triggered by a patent filed recently that supports what the RBC planned to do.
Jean Fancois Thibault, a spokesperson for the RBC, tried to downplay the news. He did acknowledge that the bank filed several patent applications. But he said these were done to safeguard “proprietary thoughts and theories. “
Meanwhile, the darker side of Bitcoin also came to light with the news of a trader using the Silk Road platform to launder money. Cryptocurrency was not designed to be used for illegal purposes. Still, Hugh Brian Haney used it to launder more than $19 million that he accumulated from selling drugs on the Dark Web.
Haney was found guilty by the US Attorney of the Southern District of New York. He is now facing thirty years of jail time. District Attorney Geoffrey Berman also warned those using the Dark Web and cryptocurrency that they won’t be more anonymous for ever.
For all those subsequent Facebook’s effort to establish the Libra stablecoin, the week highlight why one sooner supporter backed from this job. As stated by Mastercard Asia Pacific co-president Ari Sarker, your choice to measure straight back was expected to Libra maybe not being willing to function as “a part of a global financial network. “