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Politicians in Japan want a response from the G7 to China’s digital yuan

High-ranking politicians of the ruling Democratic Liberal Party (LDP), led by former economy minister Akira Amari, told reporters on Friday that Japan should share information and technical studies with the United States and other G7 members to respond to the initiative of China’s digital yuan, which could pose a serious challenge to the global supremacy of the dollar, reports Reuters.

“We live in a stable world led by dollar settlement. How should we respond if such a base collapses and if it results in a struggle for currency supremacy? ”Said Amari. As president of this year’s G7, the United States should include the digital currency in the agenda of the next group meeting, he added.

The group officially confirmed a formal proposal that
It requires greater cooperation with the G7 in terms of digital currencies. I know
He expects the G7 to meet in Maryland next June.

Japan, like many other countries, relies heavily on a dollar-denominated settlement system that allows its banks and businesses to conduct transactions worldwide. Some fear that the Japanese economy may face a significant disruption if developing nations start using the digital yuan instead of the dollar.

Japan court condemns man for installing crypto mining programs without consent

A Japanese court has demanded that a man who infected
website visitors with cryptocurrency mining malware face
to justice, after acquitting him.

As local news outlet The Mainichi reported on February 7, the Tokyo Superior Court overturned an earlier ruling that exempted the man, who was not named, from any crime.

According to the original accusation, the 32-year-old web designer installed the Coinhive miner on his own website in October 2017. He was active for a month, using visitor devices to extract cryptocurrencies for his own benefit, a practice known as “ cryptojacking. ”

The man then faced legal consequences in March 2018, but eventually avoided the punishment. At that time, lawmakers explained that the fault was not to warn him before accusing him. The Superior Court, however, disagreed.

Switzerland requires identification for cryptos transactions

The Swiss Financial Market Supervisory Authority (FINMA) approved a provision against money laundering on February 7. Citing an additional risk, the threshold for unidentified cryptocurrency exchange transactions was reduced from CHF 5,000 to CHF 1,000 (approximately $ 1,020 USD).

The provision comes after the promulgation of the new Financial Services Law and the Financial Institutions Law, which entered into force on January 1. FINMA presented the revised ordinance in response to these laws, and will conduct a consultation on the follow-up regulation until April 9.

One of the key changes to the new provision is the
standardization of Swiss national regulations with the Task Force
Financial or FATF directives as of June 2019. The agency
International ordered a maximum transaction limit of $ 1,000 for operations
of unidentified cryptocurrency exchange.

All financial providers involved in cryptocurrencies should collect data on anyone who initiates transactions for more than $ 1,000. The information must be submitted regularly to the authorities for review.

The former TradingView executive joins Binance as director of Fiat, Europa and CIS

Binance, one of the most cryptocurrency exchanges
world’s largest plans to further strengthen its fiduciary gateways to
crypto by hiring a former TradingView executive.

Iskander Malikov, former chief operating officer of the important
TradingView commercial graphics analysis service, has joined Binance
as the new director of fiat, he announced the exchange on February 6.

After serving for more than three years in TradingView, Malikov will now focus on crypto to crypto channels in regions of Europe and the Commonwealth of Independent States (CIS). The former TradingView executive will work primarily to establish new gateways and extend existing ones within the key Binance markets in the regions.

In addition, Malikov will explore more methods to simplify conversions from fiat to crypto and from crypto to fiat, the announcement said.

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Venezuelan, student of the last semester of Social Communication. Attracted by the new technologies and development that they offer to humanity.

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