Erdogan to Order CBDC Test to be Finished in 2020

Strengthening financial sector infrastructure is one of the key goals of upcoming digital lira
06 November 2019   175

Turkish President Recep Tayyip Erdogan instructed the government to complete pilot tests of the digital lira from the central bank in 2020, the Cointelegraph reports citing Resmi Gazete.

Among the goals of the Turkish CBDC are:

  • strengthening financial sector infrastructure;
  • reduction of financing costs of the real sector of the economy;
  • expansion of financial instruments for investors;
  • supporting Istanbul's desire to become an attractive global financial center.

Earlier, the country's authorities announced the creation of a national blockchain platform.

$400M Worth XRP Tied to Scam Schemes,- Elliptic

Researchers believe illegal transactions account for 0.2% of the total cryptocurrency trading volume
21 November 2019   70

Elliptic analysts monitored XRP cryptocurrency transactions and identified several hundred accounts related to illegal activities. It is reported by The Block.

A significant part of XRP transactions totaling over $ 400 million are connected with financial pyramids and other fraudulent schemes.

In general, illegal transactions account for 0.2% of the total cryptocurrency trading volume.

According to Elliptic co-founder Tom Robinson, XRP is more likely to appear in dubious schemes of fast enrichment, while Bitcoin is preferred to use on darknet marketplace.

I suspect there are a lot of retail holders of XRP, which may be an attractive target for scammers.

Tom Robinson
Co-founder, Elliptic

Robinson also added that it took longer to create an XRP transaction monitoring solution than a similar service for bitcoin or ether due to the nature of the asset structure.