#money

The Group of Seven (G-7) nations have agreed to push for tighter cryptocurrency regulations in response to concerns over illicit activities such as money laundering and terrorist financing. They plan to develop a comprehensive regulatory framework to increase transparency and accountability in the digital asset market while maintaining a balance between regulation and innovation. The success of this initiative relies on the G-7's ability to create a secure environment for the cryptocurrency market without hindering its growth and innovation potential.

Blockchain technology has been used to pilot Brazil's digital real. Execution took place on the Stellar infrastructure of the local Mercado Bitcoin exchange. The experiment included a KYC procedure, a fraud protection check using decentralized identity identification, and direct fund transfers. All worked well, no violations of the country's laws were detected (thankfully, the tests had not yet been banned), though Mercado's head teased that the Central Bank's real motive was to see how things would unfold if it lost its direct control over money.

Payouts will begin on March 10 and will be made in both BTC and fiat. As of now, the applicants will receive about a fifth of the claim amount. For 2019, the exchange balance was 142 thousand BTC ($3.3 billion), 143 thousand BCH ($19 million) and $510 million in Japanese yen. It must be said that the situation with Mt.Gox was so hopeless that many investors perceived the receipt of their coins as a gift from the gods. In addition, bitcoins were lost at a completely different price. Adam Beck, CEO of lending company Blockstream, says: “I pretty much wrote off the bitcoins I had on Mt.Gox as a loss. So philosophically, whatever I get now is a cold storage bonus.”