Privacy features coming to Litecoin

Privacy Features Coming to Litecoin Next Year

Litecoin founder Charlie Lee said in an interview that now cryptocurrency users are increasingly attracted by the functions of increasing the privacy of transactions. According to him, the Litecoin developers have already tested such tools and plan to deploy them to the mainnet next year.

“I want to make sure that users don't have to give up their financial privacy when using Litecoin,” Lee said. “Even if you’re not doing anything illegal, you don’t want people to know how much money you have or what your salary is.”

This month, Litecoin developers launched the MimbleWimble protocol on the testnet, which reduces the amount of public data by using "expansion blocks" to help hide the input and output of transactions. The introduction of new privacy features could be another chance for Litecoin to highlight its difference from Bitcoin.

“I don’t think Bitcoin will go that way, because this is a pretty big change,” Lee said.

Employee of the Central Bank of Japan: "to launch the digital yen, you need to take into account the experience of other central banks"

According to Kamiyama, even if the People's Bank of China (PBOC) is the first to issue its own digital currency, it will not dominate the world. He explained that other central banks are also actively conducting research and testing possible use cases for government stablecoins.

Countries are working hard to improve their settlement and payment systems. In addition, Kenji Okamura, Japan's vice minister of finance for international affairs, said last week that China's central bank would not benefit much from becoming a "pioneer" in digital currency issuance.

“We observe the achievements of central banks in this area and are ready to learn from them in order to learn from their accumulated experience. And not only in China, but also in other countries, because each central bank has its own discoveries and developments, ”said Kamiyama.

He added that if the Bank of Japan decides to launch its own cryptocurrency, it will be issued in limited volume. The amount of digital currency that can be stored by each user should also be limited. This will prevent capital flight from commercial banks. However, Kamiyama noted that this is only one of the possible scenarios for the development of events.

Recently, the Governor of the Bank of Japan, Haruhiko Kuroda, announced that testing of the digital yen will begin in the spring of 2021, although last year he said he did not see the prerequisites for the launch of the national digital currency.

Crypto exchange Currency.com distributes $ 50 to traders of BitMEX and OKEx exchanges

Amid problems with regulators, BitMEX and OKEx crypto exchanges are losing their audience en masse. Recall that the CFTC filed a lawsuit against BitMEX, and on October 16, the OKEx exchange announced the suspension of the withdrawal of funds, since one of the private key holders does not get in touch. Traders fear for their capital and withdraw funds from platforms in search of more reliable exchanges that have no problems with the law.

In this regard, the regulated crypto exchange Currency.com invites traders to register on the site and receive $ 50 as a bonus for paying commissions.

To do this, you must pass KYC procedure to fill up the account and send to support@currency.com codeword BITMEX or OKEX.

The crypto exchange operates strictly in accordance with the Decree "On the Development of the Digital Economy" of the Republic of Belarus. Currency Com Limited obtained Gibraltar DLT license in 2020.

Register and trade on a regulated exchange that has no trouble with the law!

NYDFS Will Introduce Digital Financial Reporting For Cryptocurrency Companies

NYDFS Superintendent Linda Lacewell announced in a press release about a new technology initiative to introduce digital reporting, TechSprint, which will allow the regulator “instant access” to the data of firms under its control.

“The future of digital financial surveillance and it's time to implement it,” Laswell said.

The NYDFS is "committed to automating reporting" on financial data through the department's controlled units, she said. Cryptocurrency service operators will be the first to move to digital financial reporting, as they have “advanced digital capabilities”.

NYDFS notes data quality problems that arise from the use of outdated reporting formats. The regulator will partner with the Association of State Banking Supervisors and the Alliance for Innovative Regulation to launch TechSprint.

Soon, fintech professionals, regulators and experts working on compliance solutions will come together to propose possible solutions to launch the initiative. These solutions can range from process improvements to a working prototype reporting mechanism.

This will result in a set of common standards that will be presented in an open source technical environment and subsequently adopted by the NYDFS and possibly other regulatory bodies. Meetings are scheduled for the fourth fiscal quarter of this year, with TechSprint slated to launch in early 2021.