Sun, May 19, 2024

Postponed Crypto Conference and Digital Yen

FATF report and crypto

Coronavirus outbreak affected various industries in the region. Organizers had to postpone the crypto conference. Thus, the TOKEN2049 crypto conference scheduled for March 17-18 will take place in October.

Organizers of this crypto conference in Hong Kong made the correct decision. Even though the number of confirmed cases in the city is low, it is hard to predict what will be the situation in March.

According to the organizers, the event will remain the same in most aspects. However, there might be some changes if new speakers would attend this conference.

This was not the first case when coronavirus changed the plans for the crypto industry. For example, crypto exchange Binance made the decision to postpone its Binance Blockchain Week Vietnam. It was scheduled for February 29 to March 4 in Ho Chi Minh City.

Binance released the statement regarding this decision. Crypto exchange underlined the importance of health and safety. They decided to protect the people who planned to attend the Blockchain Week Vietnam by postponing this event.

Currently, new dates for the Vietnam event remain unknown.

Japanese lawmakers and cryptoJapanese lawmakers and crypto yen

On Friday, a group of Japanese ruling party lawmakers asked the government to create Japan’s digital currency.  According to the information, 70 politicians from the ruling Liberal Democratic Party worked on the proposals.

Former economy minister Akira Amari leads this group, will submit a proposal to the Japanese government on Friday.

The purpose of this crypto money is to counter China’s plan to create a national digital currency.

Norihiro Nakayama made the comment about this topic. He said that China’s digital yuan would challenge the existing global reserve currency system. Moreover, it will be impossible to counter China’s efforts without U.S. assistance.

There is another threat, as well. This is Facebook’s cryptocurrency project Libra. Moreover, Nakayama thinks that Libra may undermine the monetary policy of the central bank.

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