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Cryptocurrency News Digest

Why is the second-largest company in Latin America now accepting Bitcoin? What caused Uzbek authorities to change their opinion on crypto? These are the main topics covered in the new blog cycle. We would like to regularly share this news digest, discussing the key stories for the global crypto community.

Cryptocurrency news

Exeno is the first global online store accepting cryptocurrencies (BTC, BTCV, ETH). Being crypto lovers, our team at the European headquarters in Warsaw recognizes the constant expansion of the crypto industry with great admiration. We want to share our excitement, so get ready for a summary of new projects, big investments, price records for popular currencies, and some predictions for the future.

The second-largest company in Latin America, Mercado Libre, is now accepting Bitcoin as a payment method

On 28 April 2021, the Latin American e-commerce Mercado Libre announced it’s adopting Bitcoin for real estate deals. And these aren’t just empty words! There are already 75 properties from 7 agencies on sale for Bitcoin only, including land, condos, and apartments, mainly in Buenos Aires, Cordoba, and Santa Fe.

The Mercado Libre site now features a special cryptocurrency section. The process of buying real estate with crypto works as follows: a buyer chooses an asset from the Bitcoin section, with the price listed in fiat money. Then, they contact the agency and arrange a deal date. The final crypto price is calculated using the exchange rate on that day. Unlike Exeno, Mercado Libre hasn’t implemented any technology allowing for Bitcoin payments on their platform. The transaction is concluded directly between the buyer and the seller.

The popularity of cryptocurrency in Latin America results from the widespread inflation of the local fiat currencies. Many residents believe it’s safer to buy things with crypto.

100 mln euro bond issued by the European Investment Bank as a test of the Central Bank Digital Currency (CBDC)

 The 100-million-euro digital bond issued by the EIB earlier this year acted as a test of the EU’s central bank’s digital currency.

 On 29 April 2021, Banque de France (France’s central bank) disclosed that this digital bond was settled using CBDC.

 The two-year bond was issued on the Ethereum public blockchain. Settled the following day, it has a maturity date of April 28, 2023. The principal is anticipated to be repaid in commercial fiat at maturity.

 The EIB believes the digitalization of capital markets may bring benefits to consumers in the coming years, including removal of intermediaries, reduced transaction costs, higher market transparency (resulting from increased capacity to check trading flows and identify asset owners), and a significantly faster settlement speed.

Uzbekistan may allow its residents to buy and trade cryptocurrencies

Uzbekistan wants to ease the ban on cryptocurrency purchases for its residents. Crypto transactions were forbidden in Uzbekistan in 2019.

 The National Agency for Project Management under the President of the Republic of Uzbekistan (NAFT) released an official paper recommending several licensing procedures for crypto trading. 

The NAFT proposed to officially allow residents to conduct “all kinds of crypto exchange trades involving crypto assets and tokens in exchange for the national currency and the foreign currency.” It’s also planning to establish an explicit procedure of registration, issuance, and digital asset circulation permitting licensed crypto companies in Uzbekistan to issue their tokens. The changes will be discussed until 14 May 2021.

Get ready for the new crypto facts and news on Exeno.

Sources:

https://cointelegraph.com/news/mass-adoption-looms-as-south-america-s-second-largest-company-accepts-crypto-payments

https://cointelegraph.com/news/100m-euro-digital-bond-was-a-cbdc-test-says-banque-de-france

https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain#

https://cointelegraph.com/news/uzbek-presidential-agency-proposes-legalizing-domestic-crypto-trading

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