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Is the New Zealand government up for the CBDC mission next?

Many state central banks are exploring the possibility of using central bank digital currency. New Zealand is the latest to announce it is exploring the possibility. One of the main advantages is its use as a monetary policy tool.

China has already started tests of its own digital yuan and is trying to eliminate any competition from the country in the form of blanket bans on cryptocurrencies and their mining.

New Zealand is another country that is researching the benefits of these centralized digital currencies. The Royal Bank of New Zealand today released a public consultation document which contains the following statement:

“Trends in the use of cash and monetary innovation offer the Reserve Bank an opportunity to consider expanding central bank money into a widely used digital form. The decline in the use, acceptance, and availability of cash in New Zealand, and the emergence of innovations in private money, namely stablecoins, make it an opportune time to think about a central bank digital currency (CBDC).

According to an article on Bloomberg, the bank admits tremendous complexity in developing such an asset and a long time to do so, but the CBDC would allow people to turn “private money” into a digital bank. . Money.

This would allow the New Zealand currency to remain relevant in a digital future and provide a very useful monetary policy tool for the government. The RNBZ said:

“As with other forms of digital currency, a CBDC must be operationally resistant to cybersecurity risks and disruptions, maintain data confidentiality, and comply with all relevant regulations. Even if a CBDC has the potential to act as a catalyst for innovation and competition in the larger money and payments ecosystem, we need to consider its potential to eliminate innovation. “

In addition, according to the bank, such a currency would improve internal payments and also improve cross-border payments.

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Verifone offers Bitcoin payments to thousands of merchants in the United States

Bitcoin payments become more important as asset prices rise. With El Salvador turning cryptocurrencies into legal tender, it is only a matter of time before other countries follow in their footsteps.

Make implementing BTC payments important to businesses looking to stay competitive over the long term. Large outlets have started accepting crypto payments.

The latest is AMC Theaters, which have announced that they will be accepting payments in various cryptocurrencies by the end of the year. This will allow viewers to pay for their tickets and concessions using Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, with Dogecoin currently in the works.

The technology company Verifone is now joining the ranks of institutions that accept BTC payments. Related reading | JPMorgan’s CEO doesn’t care if Bitcoin will grow ten fold in five years Bringing Bitcoin payments to the fore Thanks to a recently signed partnership, Verifone now offers Bitcoin payments to thousands of merchants in the United States.

The company known for manufacturing payment processing technology is now offering its users a new solution. Verifone is one of the largest providers of credit card readers in the world. Building on its already established notoriety, it now enables merchants to use its payment technology to accept payments in cryptocurrencies.

BTC price drops to $ 41,000 | Source: BTCUSD on TradingView.com Verifone has partnered with Bitpay for merchants who want to accept Bitcoin payments. Bitpay will alleviate volatility issues by sending BTC payments via fiat currency directly to merchant accounts.

This means that when a user pays for a good or service with Bitcoin, the corresponding amount of Bitcoin is automatically deposited into the merchant’s bank account.

BitPay is one of the world’s leading crypto payment processors, and with over 30,000 Bitcoin transactions processed per month, it puts you in a prime position to help Verifone bring this service to the public. Buy and pay however you want The ability to spend bitcoins has been an issue for the industry from day one.

Because of this, the digital currency has primarily been demoted to the status of a fixed asset rather than being used as the real world currency. However, its growing popularity with users has resulted in companies starting to consider and accept BTC payments for the goods and services they offer.

Related reading | Over $ 5 billion in Bitcoin and Ethereum moved out of cold wallets amid China’s crackdown Verifone strives to make Bitcoin transactions easier and more transparent.

Verifone CEO Mike Pulli said the company has generated great interest in its latest offering. Explain that the company already has a backlog of merchants interested in implementing BTC payments. “The interest is great, very great.

I think our phones will ring all the time, ”said Sweater. Although the company has yet to reveal which merchants will accept BTC payments, Pulli stated that the partnership was formed with the aim of giving consumers more choice.

“If you decide to buy pizza with Visa or AmEx or crypto, we don’t care. We just want to give them the option to pay as they see fit, ”the CEO said in an interview.

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Cryptocurrency derivatives exchange Bitget sponsors Juventus as the first manga partner

Singapore-based cryptocurrency derivatives exchange Bitget has announced a partnership with Juventus to become their sponsor. As part of the agreement, Bitget will act as the official partner of Juventus and official exchange partner for cryptocurrencies, as well as the first Manga partner.

Juventus Turin was founded in 1897 and is one of the most prestigious and award-winning football clubs in the world. It was the first club in football history to win top international trophies with 38 Serie A titles, 2 Champions League titles and 3 UEFA cups.

Juventus is one of the ten best football clubs in the world with elite players like Chiellini, Morata, Dybala and Bonucci. In addition, legendary players such as Nedved, Buffon, Zidane, Del Piero, Montero, Baggio and Cristiano Ronaldo have played for the club, making it one of the most important and successful clubs in Europe and the world. “Bitget was looking for outstanding partners from the world of sport and the gaming community.

Juventus has fought hard over the past century and demonstrated the fair and anticipated competitive spirit in the sport.” Bitget shares the same spirit and is committed to the Better Trading Better Life mission and is committed to providing liberal, definitive and fair trading in cryptocurrency services to users around the world.

The partnership will help Bitget improve our international reputation, ”said James Lee, Director of Global Strategy at Bitget.

“It is a pleasure for us to welcome Bitget as the first Juventus Sleeve member and to help them raise their profile with our fan base around the world. We will work together on a global level and support the partner’s international growth path by building on a shared desire to reach a growing audience. said Giorgio Ricci, CFO of Juventus.

Bitget was founded in July 2018 and is considered one of the fastest growing cryptocurrency derivatives exchanges in the world, supporting futures trading, spot trading and buying coins. Digital assets.

It has 1.6 million registered users in 48 countries and regions including the UK, France, Italy, South Korea, Japan and Russia. As a platform seeking the best service and innovation, Bitget pioneered the launch of three flagship products: USDT Margin Futures, One Click Copy Trading, and Quanto Exchange Futures. With this unique performance, it has become the most popular platform among users. With an average daily trading volume of $ 5.6 billion, Bitget is the sixth largest derivatives exchange in the world and the largest cryptocopy trading platform, according to CMC data.

It is an undeniable trend that the sport is increasingly linked to cryptocurrencies. Conventional cryptocurrencies such as Bitcoin are accepted as a means of payment by many sports platforms. As the global pandemic increases the demand for digital solutions, digital currency use cases have rapidly evolved, replacing some of the traditional features.

“The cross-border cooperation is fascinating. I am very excited about the clash of thoughts between the crypto industry and the world of sports. We are currently looking into further opportunities with Juventus.

In addition, registration for our King’s Cup Global Invitational opens on October 20th. The competition offers a prize pool of up to 100 BTC. Stay tuned for more information. Bitget Global Strategy Manager has been added.

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Canadian regulators have issued guidelines for crypto companies that warn against “gambling style” advertising and marketing.

“Misleading advertising and inappropriate marketing strategies can encourage investors to take risks that they would normally avoid,” said Louis Morisset, president of CSA.

The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) have issued guidelines for cryptocurrency trading platforms operating in the country to avoid “publicity material. and marketing that could mislead investors ”.

In a September 23 statement, guidelines from Canadian regulators warn crypto companies not to announce “play style” promotions that require an investor to register within a certain timeframe to enjoy a reward or reward. an opportunity. . Although guidelines on restrictions on social media posts appeared vague, regulators recommended that trading platforms designate a person to review and approve communications and put in place a system to ensure that all posts are made. comply with regulatory guidelines. .

“Misleading advertising and inappropriate marketing strategies can lead investors to take risks that they would normally avoid, and failure to comply with the requirements of securities law and IIROC rules can raise concerns about the relevance of an encrypted negotiation platform for registration ”, declared the president of the CSA, Louis Morisset.

Some of the seemingly egregious examples provided by regulators are exchanges that suggest they are registered under applicable securities laws or approved by regulatory authorities. The CSA and IIROC have encouraged trading platforms to consult with their legal teams before advertising and marketing communications are made public.

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Over 1,000,000 Salvadoran Citizens Are Now Using Bitcoin Within Days After Making Legal BTC Offers

Bitcoin (BTC) is being adopted en masse in El Salvador just days after the Central American nation made the standard legal tender for cryptocurrencies.

President Nayib Bukele told 2.9 million of his Twitter followers that 1.1 million Salvadorans are already using Chivo, the country’s official Bitcoin wallet operated by BitGo.

“1.1 million Salvadorans are already using the Chivo wallet (and we still have to activate 65% of the phone models). It seems that we can deposit more people in a month than we can nationalize and privatize traditional banks in 40 years. Bitcoin ” El Salvador made history after becoming the first country to officially introduce Bitcoin on September 7. The country has promised its citizens $ 30 BTC, as well as the optional use of the Chivo wallet.

Chivo’s registration was recently discontinued and the wallet had to go offline outside of peak hours to fix technical issues. Now Bukele says that the app is fully functional. “1. The application is already working 100% 2.

Now also available for download on all Blu, Xiaomi, Motorola, TCL and ZTE models. Bukele adds that he sees “strong demand” for Chivo’s portfolio. “There has never been such a massive digitization project in El Salvador. I even believe that I have never had a national digitization project. Every hour we have twice as many new users as the participants against the march.