Zhou Xiaochuan Says Digital Yuan Not Libra

Former governor of the People’s Bank of China Zhou Xiaochuan while speaking at the Shanghai Financial Forum said that China’s digital yuan would not be a replacement for globally accepted fiat currencies like the US dollar and the euro.

Xiaochuan added that Beijing does not have the intention of challenging foreign exchange regulatory and monetary systems by creating the digital currency but to be used for trade and investment.

“But we are not like Libra and we don’t have an ambition to replace existing currencies,” he said.

Russian Officials Will Start Providing Information About Crypto Investments in 2021

President Vladimir Putin has signed a decree which requires Russian officials to disclose information about their cryptocurrency holding and investments starting from January through June 30, 2021.

According to the official report about the decree published on Thursday, citizens applying for government positions as well as people already serving as government officials will submit information on digital financial assets and rights belonging to them, their spouses and minor children.

Bitcoin’s “Realized” Price Breaks Record

The value of bitcoins’ “realized” price, that is bitcoins that are actively in use have reached a new all-time high of $7,670.15 on Sunday after beating the previous value of $7,669.71.

According to data metrics released by Glasscode on Twitter, it shows that the actual value of bitcoin is not only rising but also “realized” price which suggests that active transactions are going on.

Bitcoin realized price does not include lost coins or cryptocurrencies left dormant in wallets for years.

Michael Saylor Clears Up Doubt About MicroStrategy’s Operations

CEO MicroStrategy, Michael Saylor took to Twitter to refute claims that his company is now an investment firm and de-facto bitcoin Exchange-Traded Fund (ETF) because of its latest investments in bitcoin.

Saylor countered the speculations by making references to the Investment Company Act of 1940. “MicroStrategy is an operating company traded on a stock exchange. We just happen to hold BTC in our treasury reserves. Holding BTC doesn’t cause MicroStrategy to become an IC,” he said.