G20 to Provide Crypto Regulation Recommendations by July

July is a deadline for the first step toward unified regulation of cryptocurrency
21 March 2018   817

Leaders of the world's leading economies have appointed the final date for proposing recommndations for thecrypto  regulations. This is reported by CoinDesk.

During his speech after a meeting of finance ministers at the G20 summit in Buenos Aires, the chairman of the central bank of Argentina Federico Shturzenegger said that the representatives of the G20 countries came to the conclusion that the crypto-currencies need to be studied and then to be regulated.

At the same time, during the conference, he noted that all interested countries should submit their proposals by July of this year.

In July we have to offer very concrete, very specific recommendations on, not 'what do we regulate?' but 'what is the data we need?'
 

Frederico Sturzenegger

Chairman, Central bank of Argentina

Not all of the states that are members of the G20 intend to participate in the further discussion. So, on Monday, the president of the central bank of Brazil, Ilan Goldfine, said that in his country the crypto-currencies will not be regulated. As El Cronista explains, Brazil is not required to follow the G20 guidelines for crypto-currencies and other issues.

Many representatives of the states wishing to regulate crypto-currencies, namely France, Germany, the USA and Japan, contributed to the resolution of today's decision.

They urge to consider crypto-currencies in the context of influence on crime, investors and the world economy. While representatives of France and Germany say that digital assets carry significant risks to investors, US and Japanese officials are most apprehensive that they will be used to conduct illegal activities.

Despite this, G20 representatives agree that crypto-currencies don't threaten financial stability in the world, as Mark Kerni, chairman of the Financial Stability Board, wrote in his message.

Cardano Hardfork to be Announced

During the upgrade, aimed to update the Cardano consensus algorithm, the Ouroboros Bizantine Fault-Tolerant protocol will be implemented
21 January 2020   95

The head of the blockchain company IOHK, Charles Hoskinson, spoke about plans to hold Cardano hard fork in mid-February. He said this during a stream on YouTube.

Hardfork aims to update the Cardano consensus algorithm. During the upgrade, the Ouroboros Bizantine Fault-Tolerant (OBFT) protocol will be implemented.

What changes will occur after the implementation of OBFT, the head of IOHK did not explain. At the same time, he noted that the integration of Ledger hardware wallets with Daedalus wallet software will soon be implemented.

At this stage, the project is negotiating with exchanges, as well as checking the readiness of the infrastructure. Nevertheless, according to Hoskinson, "everything is going well" and they do not plan to postpone the hard fork.