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Digital asset trading firm BCB Group has cancelled its acquisition of Sutor Bank
According to an emailed statement. BCB cited "recent banking market events and macroeconomic changes" as the reason for the cancellation. Instead, BCB will focus on its European strategy by applying for an e-money license in France and catering to the demand for U.S. dollar payments. The initial announcement of BCB's plans to acquire Sutor Bank was made in December 2021, but the specific terms of the deal were not disclosed. (The Block)
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đ§đŽ #RegulaciĂłn of cryptocurrencies in Bolivia đ§đŽ
#Bolivia is possibly the country in Latin America that shows the greatest legislative reluctance towards cryptocurrencies. In 2022, the Central Bank of Bolivia issued an alert on its website and social networks, highlighting high volatility. It even pointed out fraud risks for customers, even illustrating said alert with examples of $BTC and $ETH
The #BCB reaffirmed its position against cryptocurrencies and any form of commercialization in the country. In addition, to maintain your refusal to work or flip a coin #CBDC
JosĂ© Gabriel Espinoza considers that Bolivia should take into account the legal framework. He even mentioned that the âmany young populationâ could be the ones that end up adopting these technologies.
#Bolivia is possibly the country in Latin America that shows the greatest legislative reluctance towards cryptocurrencies. In 2022, the Central Bank of Bolivia issued an alert on its website and social networks, highlighting high volatility. It even pointed out fraud risks for customers, even illustrating said alert with examples of $BTC and $ETH
The #BCB reaffirmed its position against cryptocurrencies and any form of commercialization in the country. In addition, to maintain your refusal to work or flip a coin #CBDC
JosĂ© Gabriel Espinoza considers that Bolivia should take into account the legal framework. He even mentioned that the âmany young populationâ could be the ones that end up adopting these technologies.
Bolivia Embraces Crypto by Lifting Four-Year Ban. đ§đŽ
The Central Bank of Bolivia (BCB) has officially reversed its four-year ban on cryptocurrencies, permitting financial institutions to conduct digital asset transactions through authorized channels. This decision marks a significant shift in Bolivia's financial landscape, aligning the nation with global trends in digital finance.
Bolivia's Cautious Approach While embracing cryptocurrencies, Bolivia maintains a cautious approach. The Boliviano remains the official currency, and businesses are not required to accept crypto payments. The BCB's proactive educational initiative aims to equip citizens with the knowledge needed to navigate the world of digital assets safely.
A Step Towards Modernization Bolivia's decision to lift the crypto ban reflects a commitment to modernizing its financial system and staying competitive in the global economy. As the country navigates the complexities of digital finance, it remains dedicated to protecting its citizens and fostering a responsible approach to cryptocurrency adoption.
#Bolivia #BCB #CentralBankOfBolivia #BankOfBolivia
The Central Bank of Bolivia (BCB) has officially reversed its four-year ban on cryptocurrencies, permitting financial institutions to conduct digital asset transactions through authorized channels. This decision marks a significant shift in Bolivia's financial landscape, aligning the nation with global trends in digital finance.
Bolivia's Cautious Approach While embracing cryptocurrencies, Bolivia maintains a cautious approach. The Boliviano remains the official currency, and businesses are not required to accept crypto payments. The BCB's proactive educational initiative aims to equip citizens with the knowledge needed to navigate the world of digital assets safely.
A Step Towards Modernization Bolivia's decision to lift the crypto ban reflects a commitment to modernizing its financial system and staying competitive in the global economy. As the country navigates the complexities of digital finance, it remains dedicated to protecting its citizens and fostering a responsible approach to cryptocurrency adoption.
#Bolivia #BCB #CentralBankOfBolivia #BankOfBolivia
