March 28, 2024

Laos legalized bitcoin, mining and plans to launch CBDC

Laos legalized bitcoin, mining and plans to launch CBDC

Laos continues its journey into the cryptosphere. In September, the country allowed six companies to mine and tradebitcoins. This was done, among other things, taking into account the great possibilities for generating energy using hydroelectric power plants.

Now the central bank of Laos has signedagreement with the International Cooperation Agency (Japan) to jointly explore the possibility of launching a state-owned digital currency (CBDC). Tokyo technology firm Soramitsu is also a partner in this task.

Soramitsu is known for working withthe Central Bank of Cambodia on the development of the digital payment platform Bakong, as well as the project of the digital currency of the same name, Bakong, which would reduce the dependence of the Cambodian economy on the US dollar.

As Soramitsu stated:

“By leveraging Bakong through localbank applications of 5.9 million users were able to see the benefits of launching such a platform in the first half of 2021 alone. The number of Bakong digital wallets users has reached 200 thousand, more than 1.4 million transactions have been carried out for an amount equivalent to $ 500 million. "

Laos intends to take advantage of technologicalSoramitsu experience and localize it in your country. It is also worth noting that Laos and China are important trading partners. According to OEC data, imports from China to Laos totaled $1.87 billion in 2019, while exports from Laos to China reached $1.88 billion. As you know, the People's Bank of China has been actively testing the digital yuan (DC/EP) for the last two years.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

# Exchange: Website: Rating:
1 Binance (Editor's Choice) https://binance.com 9.7
2 Huobi https://huobi.com 7.4
3 Exmo https://exmo.me 6.9
4 OKEx https://okex.com 6.5
5 Bybit https://bybit.com 6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

  • Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
  • Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
  • Additional features and services— futures, options, staking, NFT marketplace.
  • Feedback and support– we analyze user reviews and the quality of technical support.
  • Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
  • final grade– the average number of points for all indicators determines the place in the ranking.

Laos legalized bitcoin, mining and plans to launch CBDC

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