Litecoin exceeded $60 mark

Cryptocurrency from Charlie Lee reachd all-time high
27 August 2017   3107

Litecoin gained over 20% in last 24 hours and reached $62.19. Market cap is over $3B.

Litcoin info
Litcoin info

At the moment, Litecoin is at the 5th place. Creator of Litecoin, Charlie Lee, shared his emotions thru Twitter.

Over the past seven days, the weighted average rate of LTC has grown by more than a third.

Experts Ask China Don't be in Rush For Own Crypto

Ex deputy chairman of the Bank of China said the CB should take part in the development of international regulation of crypto assets firstly
27 January 2020   122

China should strengthen cooperation with other countries to regulate the cryptocurrency industry, and not accelerate the development of its own digital currency, experts say. It is reported by the South China Morning Post.

So, the former deputy chairman of the People’s Bank of China, Zhu Min, noted that the central bank, which is developing a digital yuan in many ways as Facebook’s Libra response, should first of all take part in the development of international regulation of such assets.

Ba Shusong, chief China economist for the Hong Kong stock exchange, also believes that monitoring digital currencies requires a system that is controlled from different angles, as they have the potential to change the global financial system.

You would need to first improve the regulatory framework for [financial] technology. There is a need for global cooperation for an alternative regulatory framework.

 

Ba Shusong

Chief China economist for the Hong Kong stock exchange

 

Many fear that the popularity of Libra could strengthen the dominant role of the US dollar. At the same time, Deutsche Bank analysts believe that the digital yuan will undermine the primacy of the dollar in the global financial market.

Hiromi Yamaoka, the ex-head of the Bank of Japan supervisor of payment and settlement systems, also emphasized that the upcoming launch of Libra has caused competition among central banks seeking to make their currencies and services more attractive.

Something like Libra would make transactions costs much cheaper. Major central banks need to appeal that they, too, are making efforts to make settlement more efficient with better use of digital technology.

 

Hiromi Yamaoka

Former head of the Bank of Japan’s (BOJ) division overseeing payment and settlement systems