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FameEX Afternoon Crypto News Recap | April 20, 2023

2023-04-20 16:58:40

Curtailing SOL's Price Breakout: Insights from Analysis of On-Chain and Derivatives Data for Solana
Solana witnessed two favorable developments as the Saga smartphone, running on the Solana blockchain, was launched to positive reviews despite its high price. Additionally, Grayscale Solana Trust shares debuted in retail trading, demonstrating heightened investor interest in Solana's potential.

Belarus to Make Decision on Issuing CBDC by End of the Year
The National Bank of the Republic of Belarus is getting ready to launch a pilot program for its own central bank digital currency (CBDC) and aims to determine whether to issue a digital Belarusian ruble by the end of this year. Pavel Kallaur, the chairman of the national bank, has affirmed this plan and noted that the final decision on whether to proceed with a CBDC rollout will depend on the outcome of the pilot program's evaluation.

European Parliament Report Recommends Researching Digital Euro Without Launching
The Committee on Economic and Monetary Affairs of the European Parliament has published an analytical paper on the digital euro, offering a nuanced evaluation of the proposed CBDC. The report's title, "Digital Euro: When in Doubt, Abstain (But Be Prepared)," echoes the committee's careful approach to the initiative. The paper cautions against hasty deployment of a digital euro, while encouraging the European Central Bank to stay vigilant and be equipped to create a CBDC should market circumstances necessitate it.

Societe Generale Launches Euro-Linked Stablecoin on Ethereum Blockchain
Societe Generale-Forge (SG-Forge) has introduced EUR CoinVertible, a fresh euro-backed stablecoin that caters to institutional investors. EURCV is the symbol used to trade the stablecoin, which is only available to customers who have completed Societe Generale's Know Your Customer and Anti-Money Laundering protocols. Launched on April 20, the stablecoin's goal is to streamline euro-based transactions for clients, resulting in faster settlements and lower fees.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.

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