One of the largest investment banks, JPMorgan Chase & Co, has implemented a trial run of a startup that uses the blockchain system. It is necessary for the implementation of the procedure for calculating debt transactions.

According to Bloomberg, test translations have been implemented. The first tranche passed on May 20. As a test, the creators organized the transfer of shares of a tokenized type of BlackRock fund for security. After the project is put into commercial use, the system will enable investors to apply a more extended list of funds for lending.

“The results that we have received are a quick transfer of resources for collateral without unnecessary problems and expectations. BlackRock has been a constant participant in this startup and has been researching the potential applications of the new technology since the beginning,” said Ben Challis, Director of Trading Processes.

The blockchain-based supply counting system has a high utility rate. For example, when implementing a trade in assets or when borrowing to secure assets. Also recently, the bank is thinking of expanding support for collateral with the help of tokens. Additionally, shares and other types of assets will be included. JPMorgan uses blockchain for trading with Goldman Sachs and BNP Paribas. This process began in the 20th year. To date, the volume of transfers has crossed the line of 300 billion dollars. Earlier, expert Caitlin Long said that JPMorgan was able to take the lead because of doubts from Goldman Sachs.

Polygon is the eleventh blockchain, when using which access to USDT becomes open after other varieties of cryptocurrencies.

The Tether organization claims that the activation of USDT with the Polygon blockchain will help the ecosystem. Currently, more than 19 thousand decentralized instruments are operating on the site. According to the leaders of Tether, their participants can use USDT for transactions to and from the system. It is also necessary for profit.

At the moment when USDT is in various blockchain systems, its use with Ethereum and Tron is considered to be the largest. One of the key factors in the growth of USDT demand in Tron is the presence of the blockchain, which reduces the cost and increases the speed compared to Ethereum. Players use a large volume of USDT on Tron to transfer funds between sites. If players prefer the items that are placed in the Ethereum crypto system, they have the opportunity to quickly move to the Polygon.

Tether has announced that it has plans to activate USDT on a large number of blockchains. Prior to this, the company released a variant of the stablecoin MXNT, which has a connection with the Mexican peso to introduce the market in Latin America.

The Ministry of Finance conducted a full-fledged preparation of new amendments for a bill related to cryptocurrencies. This data was provided by Vesti magazine with an interview with one of the officials and other participants who were intimately familiar with all the features.

In the final version of the law, the regulator proposes:

    provide legal entities and individual entrepreneurs with permission to make payments with cryptocurrencies with foreign partners;
    to ban the promotion of platforms for exchange transactions if they have not issued a special license;
    ensure exclusion from search engine results for the main types of requests for addresses to sites that have not issued a license;
    sites with a license are required to cooperate in every possible way with law enforcement agencies.

Additionally, a proposal was made to store data about cryptocurrency users and all processes with them that took place over 3 years. Also, among the changes to the project, a requirement was made that miners enter a special classification. Detailed coverage of the rules for transferring data to the tax office to ensure control and supervision has been completely eliminated. In other parts, the text of the draft does not differ from the original version.

Beijing is to host the 2022 Olympics. The launch of new terminals is timed to this event, which can be used not only by local residents and citizens of China, but also by tourists.


ATMs went through seven stages of testing today, which turned out to be quite thorough and detailed. Now every visiting foreigner or resident of the country will be able to purchase yuan in digital form. They will play the role of ordinary cash with which it will be possible to make purchases and pay for other expenses.
Last week was marked by a summit, in which many large corporations and representatives of different states presented their latest developments to the public. They concerned simplifying the handling of the tokenized Chinese national currency.


The main news was that a company called Bank of China presented its updated ATM with the function of exchanging various foreign national currencies for Chinese yuan. The terminal is simple and straightforward to use, with its help you can easily convert the required amount at the current exchange rate. After the procedure is completed, your money is deposited into a separate special account and issued in the form of a hardware wallet. It turns out that the issue occurs by analogy with a bank card. On the ATM screen, you will see the total balance and the amount of RMB available for purchases.


As of today, the ATM is ready to accept 17 currencies from different countries. The use of digital Chinese money is not limited to specific stores. Shopping can be done in thousands of outlets throughout the country, the card is accepted almost everywhere.
Bank of China is not the only financial institution developing such devices. They are competed with the Industrial Commercial Bank of China, also called ICBC for short. The devices of this company can also convert foreign currency into national Chinese.


To be able to access electronic money, the user only needs to install a special application from the DCEP bank. This is done in a few minutes, using online banking greatly simplifies the work with digital money. Terminals from both companies have already passed the first tests and are almost ready to be launched in the cities of the country. The trials ended in February, and the first trial machine has already been installed on one of the most popular shopping streets in Beijing.

The largest payment company on the market, Mastercard, conducted a survey, in which more than 15 thousand people from 18 countries of the world took part. When asked about the use of cryptocurrency, almost half of the respondents answered that they were going to invest in it.


The company is not the first to conduct research in the field of marketing, which concerns the study of ways to introduce and popularize cryptocurrency around the world. They showed encouraging results, since among the younger population, about 70% of people said that they are ready to start studying the issue, use technology in everyday life and want to learn more about digital currency. 75% of respondents agreed to use coins if they study the issue of their use in more detail.


Mastercard, together with major research company Harris Poll, conducted the survey in several regions: North and Latin America, as well as in Asia and Africa. The number of respondents varied from five hundred to a thousand people in each of the countries. The reporting documents do not indicate the reason why the polls were not conducted in Europe, so this factor still remains a mystery to many.
In addition, the press release does not contain a single mention of obstacles that could interfere with the mass adoption of cryptocurrency, such as exchange rate volatility. Also, among the main obstacles to the spread of coins may be the lack of incentive to spend virtual funds, when, according to forecasts, they should increase in price, changes in the tax legislation of the country. The United States is distinguished by high requirements for paying taxes, so even a part of the small amounts received from the purchase or sale of cryptocurrency must be deducted to the budget.


The executives of the Mastercard company note that today it is still necessary for people to explain the principle of the operation of coins, and it is also worth taking care of protecting the user from fraud and informing him of all regulatory requirements.
Interest in this area is not only academic, but also practical. For example, CoinDesk back in February became the first company to provide its customers with the ability to make purchases and transfer digital money.


Visa is a competitor to Mastercard and keeps up with its success. Its developers work with Ether and modern start-ups, which are aimed at introducing cryptocurrency into the everyday life of every person.

The lawsuit continues, which began with a claim by the US Securities and Exchange Commission against Ripple. To date, the leaders of the exchange have filed a petition to close the case against them, but the decision has not yet been made - until the decisive moment is about 30 more days. The question now is whether the SEC has the authority of the United States of America to pressure other governments, as Ripple claims, or not. The first court session after the submission of additional papers will take place on May 6. Among other things, it will consider the issue of the possibility of closing the case. XRP users watch with dismay how the process is progressing and what can be expected as a result.


At the last meetings, the question was raised not only about the settlement of the claim, but also about whether the SECs attempts to gain an advantage in the court over Ripple are fair. The fact is that the agency sent a request to companies in other countries that have been working with Ripple for some time. According to the leaders of Ripple, a memorandum of understanding is mandatory, and the SEC tried, first of all, to use the authority of the US government on the world stage to its advantage. While the question of voluntariness or the need for a memorandum of understanding remains open, therefore, at each regular meeting, it is necessarily raised.
The judges opinion on this matter is strikingly different from the opinion of the Ripple team. She believes that the authority of the US government cannot put pressure on foreign governments. And although foreign companies cooperating with Ripple are obliged to satisfy the request of their government, it is not obliged to satisfy the request from the SEC. According to Hogans lawyer, the judge assumes that such a turn gives equal advantages and does not distinguish one of the parties in the course of the trial. A defender representing the interests of Ripple believes that foreign companies may refuse to comply with the request, since this is done involuntarily, especially in relation to states whose economies are very different from the American one.


The case periodically moves from one judge to another, each of them considers the situation from different points of view, but lawyers agree that the case on the memorandum should not have much weight in the current claim. Recall that on May 6, a meeting will be held under the chairmanship of Judge Henry Gensler, he is considering this case for the first time and, possibly, will see new opportunities for resolving the conflict between the parties.

Researchers from the analytical company Fundstrat have calculated that very soon the price of Ethereum could jump to $ 10 thousand. This conclusion was made on the basis of overcoming the historical maximum of 2.8 thousand dollars. Already at the beginning of this year, Ethereum was worth 2 thousand dollars, but it did not stop moving upwards, and today it has set its new record. In view of the sharp rise in cryptocurrency over the past month, analysts suggested that a stronger rise in the rate is likely. Moreover, while Ethereum was increasing in price, Bitcoin, on the contrary, became cheaper and dropped about 5 percent of its value over the same period of time.


Analytical research suggested that this dynamic will continue throughout 2021, as a result of which the popularity of Ethereum in comparison with Bitcoin will significantly increase. Even today, it can be concluded that the capitalization of the Ethereum network has increased to 30 percent of the same amount of digital gold, as Bitcoin is otherwise called. The focus of the market and its participants is gradually shifting from the most expensive digital asset to more affordable and no less reliable, like Ether. Other areas are also becoming more relevant - DeFi and Web 3.0. Analysts noted that such an increase in popularity will have a positive effect on the adoption of cryptocurrencies in the main areas of human activity.


The ETH network is actively developing financial applications, so the positive dynamics will only benefit them. According to research by experts from Fundstrat, Ethereum-based applications generate good profits through commissions, which, although small compared to Bitcoin, add up to decent returns that will soon be able to compete with the market capitalization of Bitcoin. Employees of an analytical company compare this state of affairs with an abstract company that makes a profit and immediately invests its net component (without operating costs) in the acquisition of the sold shares - their return to the company. This approach allows you to ensure high profits and protect users from inflation.


According to analysts forecasts, Bitcoin will cross the $ 100,000 mark in 2021. The global capitalization of all cryptocurrencies combined will also increase - up to $ 5 trillion. This will also include the value of cryptocurrency assets that will be locked in smart contracts in decentralized finance.

According to the press service of Bloomberg Law, the District of Columbia Bar Association has allowed lawyers practicing in Washington to accept cryptocurrency, including bitcoins, as payment for their services.
The organizations specialists noted that settlements in cryptocurrency are gaining more and more popularity and these changes cannot but affect legal activities.
Calculations in cryptocurrency, according to the experts of the Bar Association, can be carried out if its value is justified, and the lawyer, accordingly, will be able to ensure guaranteed protection and security of storage of digital funds. To use digital currency in his legal practice, a lawyer must have relevant knowledge in the field of blockchain.
If the value of any of the cryptocurrencies changes due to a sharp increase in volatility, the Bar Association advises to make a decision that is beneficial for the client. In order to avoid disagreements, it is recommended to discuss the possible situation with the client in advance before concluding an agreement.
Also, this statement says that the US fiscal (tax) service considers cryptocurrency as personal property, which means that payments using digital means cannot be equated with payments in fiat currency.
Prior to this, law firms were allowed to use cryptocurrency as a means of payment in New York, Nebraska and North Carolina.
Also, relatively recently, in the United States, it became possible to buy retail cryptocurrencies, in particular bitcoins, in more than twenty thousand retail outlets.