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FameEX Afternoon Crypto News Recap | April 20, 2023

2023-04-20 16:58:40

Analysis of Solana's On-Chain and Derivatives Data Reveals Constraints on SOL's Potential Price Surge
Solana experienced two positive developments with the launch of Saga, a smartphone powered by the Solana blockchain, and the debut of Grayscale Solana Trust shares in retail trading. The smartphone received positive reviews despite its high price tag, while the trust's debut indicates increasing investor interest in Solana's potential.

Belarus to Decide on Issuing CBDC by Year’s End
Belarus is preparing a pilot program for a central bank digital currency (CBDC), with plans to decide on the issuance of a digital Belarusian ruble by the end of the year. Pavel Kallaur, Chairman of the National Bank of the Republic of Belarus, confirmed the news, stating that a decision will be made on the potential launch of a CBDC after assessing the results of the pilot program.

European Parliament Report Proposes Researching, but Not Launching, Digital Euro
The European Parliament's Committee on Economic and Monetary Affairs has issued an analytical paper on the digital euro, providing a mixed review of the proposed digital currency. The paper's title, "Digital Euro: When in doubt, abstain (but be prepared)," reflects the committee's cautious stance towards the project. The report advises against rushing into the launch of a digital euro but suggests that the European Central Bank (ECB) should be ready to develop a CBDC in response to changing market conditions.

Societe Generale Unveils Euro-Pegged Stablecoin on Ethereum Blockchain
Societe Generale-Forge has launched EUR CoinVertible, a new euro-pegged stablecoin that targets institutional clients. Traded under the ticker symbol EURCV, the stablecoin will only be accessible to investors who have gone through Societe Generale's Know Your Customer and Anti-Money Laundering procedures. The launch occurred on April 20, and the new digital asset aims to provide clients with a more efficient means of transacting in euros, reducing settlement times and costs.

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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