Weekly news: 20. December–2. January

Turkey´s crypto law, Iran and energy halt, CBDCs in Mexico and

Turkey and their crypto law

President of Turkey, Recep Tayyip Erdoğan, has announced last week that the draft for crypto law in Turkey was completed. This crypto law draft will be submitted to the Parliament, so it can be implemented in the country. According to Erdoğan, this should hopefully help with the problem of falling value of the Turkish lira (official currency). Also, he believes that with implementation of this law Turkey could become one of the 10 largest economies in the world.

Iran halts energy supply

With ongoing winter, the Energy Ministry of Iran has implemented some measures that should help with reducing usage of liquid fuels in power plants, which includes crypto farms that are licensed. On Dec. 25 the news surfaced that the authorities took this action to reduce the consumption last month.

According to reports, almost 70% of the fuel that is consumed in Iran is used for heating buildings. This new energy-saving idea should help to cut this usage by 40% at minimum.

CBDCs in Mexico

On December 30., Mexico announced on their twitter account, which represents the Mexican presidency, the confirmation of CBDCs. The announcement says that it is planned to launch in 2024. The CBDC (central bank digital currency) is an electronic record or digital token of a country’s official currency. So some people were hopeful that Mexico could follow in steps of El Salvadro. But President Andrés Manuel López Obrador said that it is highly unlikely that Mexico would adopt Bitcoin as their currency. The reason for this is that in 2020 the authorities stated that drug cartels were using crypto and digital currencies to launder money.

But still the CBDCs will help improve the payment infrastructure which will become next generation and also new technologies should make Mexico more financially inclusive.

45 times dead

With 2021 gone, we can finally get some data about last year. One of the information is how many times was Bitcoin pronounced dead. This trend has become a classic, since the Bitcoin was published. The authorities which don’t believe in BTC and hope for its crash usually announce that BTC has died every time there is slight decrease in price.

Now in 2021 this announcement was made exactly 45 times. That is at least three time more than in 2020, but it still didn’t get even close to the year 2017, when that announcement was made 124 times. So, with 2022 starting let’s see how many times we will hear about this in this year.

Thank you for reading.