Square and Twitter CEO Jack Dorsey tweeted on Friday that TBD, the new division of payments giant Square focused on creating an open development platform, plans to build a decentralized Bitcoin exchange.
The truth is not something new. As early as July, he had said in a series of tweets that Square would launch the new business to facilitate the offering of decentralized, non-custodial financial services.
But now he tweeted it more forcefully, also referring to who was called to lead the project. This is his new tweet:
“Help us build an open platform to create a decentralized exchange for Bitcoin,” Dorsey tweeted. Which reiterates that Jack Dorsey plans the creation of this platform.
Mike Brock, who was appointed to lead the initiative, separately tweeted that “this is the problem we are going to solve: making it easy to finance a non-custodial wallet anywhere in the world. Through a platform to build on and off ramps in Bitcoin. You can think of this as a decentralized exchange for fiat money. “
Brock noted “gaps around cost and scalability.” And that TBD needed “a solution for the infrastructure of exchange between digital assets, such as stablecoins.”
India May Launch CBDC Tests Later This Year, According To Central Bank Governor
Testing for an Indian central bank digital currency (CBDC) could begin in December. So said the Governor of the Reserve Bank of India (RBI), Shaktikanta Das.
The central bank is studying security issues and the broader impact a CBDC would have on monetary policy. Das told CNBC on Thursday.
“I think by the end of the year, we should be able, maybe we would be in a position, to start our first tests,” he said.
Das said the RBI is exploring whether a digital rupee would take advantage of blockchain technology or use a centralized ledger.
Cuba is about to recognize and regulate cryptocurrencies
According to Aljazeera, the central bank of the Caribbean nation will establish rules for the integration of transactions with cryptocurrencies. The Cuban authorities are also expected to distribute the relevant licenses to companies based on the cryptocurrency-related services they offer.
Some sources claim that the move to allow cryptocurrency as legal tender has been well received by the tech-savvy Cuban population. Since the country had to temporarily stop accepting bank cash deposits in US dollars. Given the stricter restrictions established by the former president of the United States, Donald Trump.
China ‘to maintain high pressure situation’ on cryptocurrencies, official says
Apparently, China has redoubled its offensive against cryptocurrencies with a public reminder in which it claims that Bitcoin (BTC). And, other digital currencies “are not legal tender and have no real value.”
In a briefing for local media, Yin Youping, deputy director of the Financial Consumer Rights Protection Office of the People’s Bank of China (PBoC). He said the central bank will maintain a “high pressure situation” and continue to clamp down on transactions related to digital currencies.
In this regard, the briefing, which coincided with China’s “Financial Knowledge Popularization Month”, Youping claimed that transactions related to digital currencies are pure investment propaganda. He stated that the public should increase their risk awareness and stay away from crypto investments.