A lot has happened last week on the crypto market. Here is a summary of the main events: Bank of China announced that it is ready to test the digital yuan, the developer of Ethereum named the date of the next hard fork cryptocurrency, the Bank of Russia has begun tests of their own cryptocurrency, $25 million in Ethereum was sent to Binance, Huobi and Kraken.
As 2020 kicks off it seems likely that government owned crypto will become a mainstay of the sector. Both China and Russia have begun tests for integrating state controlled cryptocurrency into their respective markets. Other major legislative and technological shifts are also underway.
Bank of China has announced that it is ready to test the digital yuan
China is ready to start testing the digital yuan, said Mu Changchun, Head of Payment and Settlement Solutions Division of the People’s Bank of China. He noted that the payment system has already passed the functional research and debugging stage, and now there will be the launch of pilot programs.