Peruvian regulators begin developing cryptocurrency

Peruvian regulators begin developing cryptocurrency regulation

Peruvian regulators have begun to study the activities of cryptocurrency firms and marketplaces with the aim of developing clear regulatory requirements governing the digital currency industry in the country.

Sergio Espinosa, the head of the Peruvian Financial Intelligence Unit (UIF), said that regulating digital assets in Peru is one of the country's top priorities despite the pandemic and economic crisis. Regulatory authorities are actively conducting research and studying how much virtual assets circulate around the country, and what are the volumes of Bitcoin and other cryptocurrencies trading. So, against the background of the spring quarantine, the popularity of BTC throughout Latin America has grown significantly, and the volume of trading with bitcoin in Peru has increased by 30%.

Espinosa said the blockchain and cryptocurrency industry is still "uncharted territory" for local regulators, so he urged them to carefully study how digital currencies and marketplaces work. Espinosa stated the need to develop cryptocurrency regulations as soon as possible to prevent the use of digital currencies for illegal purposes. Peruvian regulators began scrutinizing cryptocurrency exchanges back in August to gather enough information to draft laws and regulations governing the cryptocurrency industry in Peru.

Despite the lack of a clear position in relation to cryptocurrencies, the country's authorities are loyal to the use of blockchain. Last year, they expressed their readiness to apply this technology to create a transparent contract procurement system to prevent corruption.

Huawei introduced a smartphone with built-in support for the digital yuan

Chinese electronics manufacturer Huawei has unveiled a new smartphone with a built-in hardware wallet to work with the digital yuan. This was reported by The Block with reference to the company's Friday press conference.

Among other things, the Huawei Mate 40 was unveiled. Huawei's General Director of Consumer Products, Yu Zhengdong, said that this is the first smartphone adapted at the hardware level to work with the digital currency of the People's Bank of China.

On the social network Weibo, the company writes that the Mate40 will provide security when working with the digital yuan and will allow offline transactions. Yu noted that this development was the next step in using the digital yuan on mobile devices.

The profitability of bitcoin mining approached the maximum levels since halving

The daily profitability of Bitcoin mining on terahesh per second (TH / s) may soon update the maximum values ​​since the third halving, which took place in May this year. The halving resulted in a decrease in the reward for miners for a block from 12.5 BTC to 6.25 BTC.

According to The Block, Bitcoin miners are now earning $ 0.01 with TH / s. The indicator rose more than 40% from July lows. It is calculated based on the seven-day average block rewards and commissions divided by the total hash rate.

Verizon Unveils Blockchain Tool For Its News Platform

The tool was named Full Transparency, and is described as "recording all changes in news releases on the blockchain." It should be part of a "responsible business" vision, in which Verizon hopes to use technology to improve communication between communities, education and the workforce.

“This initiative should transform the way the Verizon Corporate Newsroom publishes press releases. The tool will provide trusted reports on changes in press releases and public communications, ”the company said.

Development was carried out in collaboration with AdLedger, Huge and MadNetwork. All changes in press releases will be recorded and users will be able to find out the original version of the news. Verizon Chief Communications Officer Jim Gerace said:

“As a technology company that gives people access to information, we are pleased to introduce the Full Transparency tool. This product will help us build trust in corporate messages. We invite companies around the world that value transparency and trust above all to use data verification on the blockchain. "