Japan's government to lead development of SWIFT network for cryptocurrency
Finally some non-negative news for crypto out of a government!
Last week and this week we've had plenty of negatives out of the US from crypto:
- Federal Reserve Chair Powell …. said he had "serious concerns" about Libra
- President Trump criticized bitcoin, added that Facebook's Libra would have "little standing or dependability"
- Treasury Secretary Steven Mnuchin raised national security concerns about Libra
The whole complex came under selling pressure.
So, maybe this bit of positive news from japan can help it along, or at least not hinder it?
Reuters citing an unnamed source:
- Japan's government is leading a global push to set up an international network for cryptocurrency payments
- similar to the SWIFT network used by banks (international payments messaging system used by banks to send money around the world.)
- aims to have the network in place in the next few years,