ChainCatcher news, according to Bloomberg, Tether Holdings Ltd. is attempting to persuade Turkey to use digital assets to completely reform the country's boron market, marking the latest sign of the cryptocurrency industry's efforts to leverage the commodities sector for further growth. Sources revealed that the stablecoin issuer Tether proposed to government officials the creation of digital tokens representing borate minerals using blockchain technology. Tether also suggested the idea of establishing a digital asset exchange in Istanbul. A Turkish government official stated that the boron proposal is currently not feasible, while an official from Turkey's Ministry of Energy indicated that negotiations with Tether are still in the early stages.It is reported that boron products are primarily used in the manufacture of ceramics, detergents, fertilizers, and glass. Turkey's monopoly supplier, the state-owned Eti Maden General Directorate, estimates that the country's boron reserves account for over 70% of the world's total reserves.

ChainCatcher news, according to Bloomberg, Tether Holdings Ltd. is attempting to persuade Turkey to use digital assets to completely reform the country's boron market, marking the latest sign of the cryptocurrency industry's efforts to leverage the commodities sector for further growth.Informed sources revealed that the stablecoin issuer Tether has proposed to government officials the creation of digital tokens representing borate minerals using blockchain technology. Tether has also suggested the idea of establishing a digital asset trading platform in Istanbul.A Turkish government official stated that the boron proposal is currently not feasible, while an official from Turkey's Ministry of Energy indicated that negotiations with Tether are still in the early stages. It is reported that boron products are primarily used in the manufacture of ceramics, detergents, fertilizers, and glass. Turkey's monopoly supplier, the state-owned Eti Maden General Directorate, estimates that the country's boron reserves account for over 70% of the world's total reserves.

ChainCatcher news, according to Jin10, the International Monetary Fund has warned Zimbabwe about its plan to issue a gold-backed digital currency. Previously, the Reserve Bank of Zimbabwe stated that it would issue gold-supported digital tokens starting in early May. (source link)

ChainCatcher news, the Reserve Bank of Zimbabwe will issue gold-backed digital tokens starting from May 8. (Source link)

ChainCatcher news, according to Shanghai Securities Journal, during this year's National Two Sessions, Fu Xiguo, a representative of the National People's Congress and president of the Shenyang branch of the People's Bank of China, plans to submit a proposal to amend the "People's Bank of China Law of the People's Republic of China."Fu Xiguo believes that the responsibilities for managing the renminbi should be improved, and the legal definitions regarding the forms and production methods of the legal renminbi should be redefined, granting digital renminbi the same legal status as physical renminbi; based on the characteristics of digital renminbi, comprehensive and detailed regulations should be established regarding its issuance, circulation, and supervision to prevent virtual currency risks, and to clarify the legal responsibilities for the production and sale of digital tokens. (Source link)