In our “National Cryptocurrencies” section, we cover government-backed digital currencies and state initiatives related to blockchain technology. Here you will find news about central bank digital currencies (CBDCs), national crypto projects, and the role of digital money in modern economies. Read the “National Cryptocurrencies” section on ForkNews to stay informed about how countries are developing their own digital currencies.
Saudi Arabia will launch its own cryptocurrency next year, according to Al Zahrani, head of the Saudi Arabian Monetary Fund (SAMA). According to available information, this cryptocurrency is being developed jointly with another oil-rich country - the UAE.
The sovereign is the highest person who has unlimited supreme power in the state for an indefinite period. Is there a threat to decentralized cryptocurrency in the issuance of national crypto-money?
On Monday, November 12, following political debate over the issue of cryptocurrency and China's alleged plan to seize the coral island of Rongelap, parliament voted to declare a vote of no confidence in the President of the Marshall Islands, 67-year-old Hilda Hein, the only female president of the Pacific region. However, the votes were divided 16/16, and the president's opponents lacked one vote to achieve their goal.
It seems that the Iranians have decided to follow the example of Venezuela and develop blockchain technology. As Abolhasan Firouzabadi, secretary of the Supreme Council of Cyberspace of Iran, stated: “Cryptocurrency mining is an industry that needs to be developed in Iran.” According to him, cryptocurrency mining is one of the main industries in the cryptocurrency space, so in the near future there will be a platform for legalizing the mining of digital currency.
A research group created in November 2017 by the head of the Central Bank of Israel to study the feasibility of the bank issuing its own cryptocurrency, this week released the results of the study.
Venezuela is working hard to establish itself as the first country to launch a national cryptocurrency. The government has announced that cryptocurrency should mitigate the economic problems associated with traditional fiat currency and become a widely used means of payment in the country.
The Swedish Central Bank continues to work on the e-krona project. For more than a year, the commission has been studying the technical possibilities for issuing a national digital currency.
According to the New York Times, Japanese Central Bank Vice Chairman Masayoshi Amamiya, speaking at a meeting in Nagoya, expressed doubts that cryptocurrencies issued by central banks could improve existing currency systems and said that the Central Bank of Japan has no intention of issuing its own cryptocurrency.
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