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The social network VKontakte launches its cryptocurrency. The head of Pillar criticizes the SEC for opposing progress, tokens can replace the dollar.
VKontakte social network with an audience of over 500 million registered users has launched its own cryptocurrency. VK Coin service allows you to earn virtual coins for clicking a button. And users can thus reward the owners of public and interesting posts.
It is important that the received coins can not only be exchanged. They are allowed to withdraw through the VK Pay payment system. Apparently, this is a test version of VK Coin cryptocurrency. While it is available only in the mobile application, and can hardly be used for real calculations. However, there is a possibility that in the future a huge audience of VKontakte will indeed receive a real financial asset on the blockchain.
Pillar founder David Siegel blamed American regulators for the continuation of a cryptocurrency winter. He said that the SEC is opposing the developers of digital financial assets and does not provide them with any support.
According to David Siegel, as a result, the United States may get a significant lag from other countries. Project developers and financiers change jurisdiction and prefer to operate in Europe and Asia. There, the authorities are more loyal to cryptocurrencies, and the regulation is meaningful. In the US, it has long been argued that control over the cryptocurrency market should be transferred to the CFTC. This agency actively supports digital financial assets and is much more sympathetic to innovation.
Felix Martin Soto, who holds the post of deputy head of the Argentine Ministry of Finance, spoke about the imminent collapse of the dollar. He is confident that cryptocurrency will force him out of the top. According to the official, it is digital financial instruments that are able to take the place of the main reserve asset.
It is noteworthy that these words were spoken during his visit to China, at a meeting with the CEO of the financial giant Huobi Group. Now, most Argentineans keep their savings in dollars. And this happens in many developing countries, which supports the high demand for the American currency. If a more interesting tool for savings appears, the dollar rate may collapse.
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