The bank of Kazakhstan is ready to legalize a mechanism for converting cryptocurrencies into local currency if there is demand, said president Kassym-Jomart Tokayev. According to the local news agency Informburo on September 28.
Speaking at the Digital Bridge 2022 international forum, Tokayev stressed that Kazakhstan aspires to become an international leader in the field of digital technology. As well as in the cryptocurrency ecosystem and regulated mining.
He noted that the local government has drafted amendments into the national legislation. This, to test a cryptocurrency conversion mechanism at the Astana International Financial Center.
The country’s president reportedly visited a joint booth of major local lender Eurasian Bank and cryptocurrency exchange Intebix at the Digital Bridge 2022 event.
Chainalysis: Ghana Poised to Catch Nigeria and Kenya in Cryptocurrency Adoption
As emerging markets take the lead in cryptocurrency adoption, Ghana, a country located in West Africa, could soon catch up with other African countries. This, in terms of the use of cryptocurrencies.
In a report published by blockchain analytics platform Chainalysis, researchers found that Ghana has the potential to reach levels of cryptocurrency adoption. These, similar to those of Kenya and Nigeria. Countries that ranked 11th and 19th in the analytics firm’s Global Crypto Adoption Index.
According to Ray Youssef, CEO of peer-to-peer (P2P) transaction platform Paxful, the needs of the local population coupled with the current growth trends in Ghana, show its potential to become a leader in cryptocurrency adoption in Africa.
Banco de España continues to register companies that provide services linked to cryptocurrencies
Last week in Spain four new cryptocurrency service providers registered with the Bank of Spain. This, to operate with a license within Spanish territory.
According to the Europapress news agency, Prosegur Crypto, Bots, Rand Protocol, Coin Direct and JBH Financial Group were the companies that were registered in the Bank of Spain’s registry of cryptocurrency providers.
These companies dedicated to the custody of electronic purses, and to the exchange service of virtual currency for fiduciary currency have had to comply with adequate procedures and bodies for the prevention of money laundering and financing of terrorism. As well as compliance with the requirements of commercial and professional honorability.
Binance Starts Ethereum Proof-of-Work Mining Pool
Cryptocurrency exchange Binance said that customers can now join a mining pool for ETHW. The forked version of Ethereum that retains the original proof-of-work (PoW) foundations of the blockchain.
Participants in the ETHW Pool will not be charged a fee during a promotional period that ends on October 29. According to a statement on Thursday.
Two weeks ago, Ethereum Merge successfully switched the blockchain to a proof-of-stake system, removing the need for crypto miners on the network. A new forked version of Ethereum was created that still works with PoW, although it got off to a rocky start. Customer support from Binance, a giant in cryptocurrency trading, could in theory help keep the forked version going.