“A draft bill defines a “digital dollar” and details how it might be maintained. The bill echoes language from a pair of draft U.S. House bills aimed at stimulating the economy during the coronavirus outbreak.
The bill is not proposing a crypto dollar but a digitized version of the existing dollar, a process advocates have called for to maintain U.S. financial hegemony.
The House draft bills mentioned a digital dollar as one potential method for distributing relief funds to U.S. residents. However, the Senate version appears to exist independently of any such relief.”
“Accounts suspected of illegal activity can be restricted. Restrictions that can be applied include blocking one or more account operating authorities, prohibiting currency flows into and/or out of the target account, and freezing all funds held in the account.
Wallet functionality will depend on behavior and personal data. Behavioral data is specified as the frequency of use, amount and venue of transactions. It is currently unclear whether “social score” will also feed into the user’s wallet type.”
“China’s central bank is accelerating its central bank digital currency (CBDC) plan. The Bank of China has completed development of the basic functions of the official digital currency and is now drafting laws that will help its implementation.
A number of Shenzhen-based private companies including Alibaba, Tencent, Huawei and China Merchants Bank have participated in the development of the digital currency.
If there is a chance China is considering lowering its interest rate into negative territory as an final option and directing such policy to commercial loans and lending, a circulated digital currency rather than M0 will be able to achieve that.“
“The new platform will feature flash swaps. The swap allows users to withdraw an unlimited amount of ERC-20 tokens from a liquidity pool, provided that in the same block, either the tokens or their ETH equivalent are returned.
Uniswap V2 will [also] allow direct token-to-token swaps. While this can be done right now by routing through ETH, a direct exchange reduces losses from fees and slippage.
[Finally], Uniswap V2 is creating a time-averaged price feed. This design is said to prevent attacks based on flash loans as the flash-lent funds can only exist for one block. The update’s release is scheduled for Q2 2020.”
See Also: Uniswap V2 (Official)
“Brave has partnered with Binance to bring in-browser crypto trading to its 13 million users. The Binance Widget allows Brave users to make crypto trades without leaving the browser.
Users will be able to sign into the widget with their preexisting Binance account. The Binance Widget will become available on the main version of the browser sometime in April.
The Binance widget is built into Brave and is not a loaded iframe (remotely embedded document), which preserves the user’s privacy. API calls will only be made into Binance if the user authenticates via OAuth and interacts with the widget.”
“The CFTC published its final guidance on “actual delivery for digital assets”. “Actual delivery” occurs when a customer has complete control over the asset and the offeror no longer has any control over the asset by the end of 28 days after the transaction.
However, the Commission notes that it does not intend to create a bright line definition given the evolving nature of the commodity.”
“The new bill will allow the creation of sandboxes in which real businesses will be working with real customers.
Such regimes can be established to live-test the new technologies in medicine, transporation, distant learning, financial markets, online commerce and other sectors. The Bank of Russia, the central bank, will be supervising the sandboxes related to fintech.”
“Open interest, or outstanding positions, in XBT/USD (bitcoin) perpetual contracts fell to 55,000 BTC. That’s the lowest figure in at least 18 months.
While open interest has declined from $1.2 billion to $500 million on BitMEX since the big long squeeze, it has skyrocketed for their rivals. On FTX, open interest has increased from $68 million to $128 million in the past 12 days. Similarly, for Bybit it has risen from $35 million on March 14 to $100 million on March 22.”
“Creditors will be able to choose if they want to receive fiat money or a mixture of fiat money and Bitcoin, including Bitcoin Cash. The money will be distributed to three priority groups in stages.
First to receive restitution will be those who lost large amounts of Bitcoin. The second wave of repayments will be given to those who lost amounts up to $2,000. Third will be pro rata payments.”