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Cuba authorizes payments with Bitcoin and fork in Ethereum

Among the outstanding news of the week is the announcement by the Central Bank of Cuba according to which payments in bitcoin and cryptocurrencies are recognized on the Caribbean island. One of the main factors driving this measure could be the difficulty in sending and receiving remittances from abroad in dollars, according to the Cuban media.

After having surpassed $ 50,000 a week ago, the price of Bitcoin (BTC) falls and has remained in ranges of around $ 45,000 to $ 49,000. On average, the pioneer cryptocurrency lost 2.4% over these seven days. At the time of this writing, BTC is trading at USD 48,051, as reflected in the market price of Latin America and Spain, according to the CriptoNoticias price calculator.

With CriptoNoticias, those interested can keep up to date on price changes in the bitcoin and ether market in relation to their local currency. To do this, they can visit the BTC and ETH Prices section, which has a calculator to make conversions quickly and easily to their national currency.

These are the most outstanding news:

  • In accordance with the provisions of the extraordinary official Gazette of this Thursday, August 26, the Central Bank of Cuba reported that the use of “certain virtual assets in commercial transactions” is enabled throughout the country. The resolution leaves several aspects unclear, such as which cryptocurrencies can be used and which cannot, and the price to use for operations. In the meantime, in Panama, a bill was presented before the National Assembly, which seeks to regulate all activities related to cryptocurrencies. The Central American country will evaluate using digital assets as an optional payment method.
  • On August 27, the Ethereum blockchain suffered an unexpected fork. A bug or error in the Geth client, the main software used in the nodes of this network, would have been exploited that day, generating a new chain of blocks. The developers urge to run a new Geth update released on August 24 to fix the bug. For its part, the Ethereum Foundation announced that a set of projects operating in the DeFi sector, together with the Kraken exchange, donated 1.5 billion dollars to accelerate the development of the Ethereum 2.0 execution layer.
  • In the next few days, the Bank of Spain will give to know the necessary mechanisms for the registration of bitcoin exchanges and other cryptocurrencies, as well as crypto asset custody platforms. The measure responds to the provisions of Law 10/2020 on the Prevention of Money Laundering and Financing of Terrorism. Meanwhile, the president of El Salvador, Nayib Bukele, confirmed that 200 bitcoin ATMs and 50 branches will be installed in the country to withdraw or send money. The devices that allow to operate with bitcoin will have a distinctive seal: the Chivo logo, the wallet that the government will launch when the law enters into force.
  • On August 24, the United States Congress blocked the possibility of the so-called infrastructure law having amendments. The legislative proposal will not be modified before its vote in the House of Representatives because the Rules Committee agreed that the draft accepted by the senators will not have changes. Meanwhile, the dispute between the Financial Conduct Authority of the United Kingdom and Binance seems not to have ended, as the regulatory body recently issued a statement in which they assure that although the exchange “complied with all aspects of the requirements” requested, you are not yet able to conduct regulated business in that country.
  • According to research carried out by Chainalysis, Argentina and Brazil are the Latin American countries where protocols for decentralized finance (DeFi) are used the most. The two South American countries were ranked 16 and 17 respectively in the world rankings led by the United States, Vietnam and Thailand. Another study carried out by the Finder firm confirms that the Global adoption of cryptocurrencies stands at 19%, with Vietnam being the country with the highest adoption. The survey found that 14% of young adults in Mexico and Colombia own cryptocurrencies, while in Spain the percentage is 12%.

If you want to know the meaning of several words in the crypto world terminology, you can consult them in the extensive CryptoNews Glossary.

ATL (All Time Low): is the antonym of ATH: Historical Minimum. It is the minimum price that a certain cryptocurrency has had with respect to the last ATH.

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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