Latest Ledger News

  • Kraken Security Labs Identifies Ledger Nano X Vulnerabilities: Funds Not at Risk, Ledger CTO Says
    Kraken Security Labs Identifies Ledger Nano X Vulnerabilities: Funds Not at Risk, Ledger CTO Says
    Kraken Security Labs identified certain vulnerabilities in one of the most popular hardware wallets - Ledger Nano X.
  • Kraken Discovers Supply Chain Attacks Against Ledger Wallets
    Kraken Discovers Supply Chain Attacks Against Ledger Wallets
    Hardware wallet Ledger is allegedly vulnerable to two new attacks, Kraken exchange warned. Kraken, a major United States-based cryptocurrency exchange, has identified new potential attacks against the popular hardware wallet, Ledger. Kraken Security Labs, the exchange’s cyber security division, has discovered two new attack vectors that could compromise the security of Ledger Nano X wallets.
  • Institutions Will Drive Mass Adoption of Blockchain in Finance, Says Expert
    Institutions Will Drive Mass Adoption of Blockchain in Finance, Says Expert
    Blockchain experts discuss how institutions will play a major role in the mass adoption of blockchain-based financial infrastructure. Benjamin Soh, founder of blockchain development firm STACS, said that institutional players, not business-to-consumer companies, will drive the mass adoption of financial infrastructure built on blockchain technology.  During the Unitize virtual conference, Soh said that if they could bring bank institutions to use the blockchain, millions of bank customers will automatically be a part of the blockchain finance infrastructure without them even knowing. Providing bank customers with a blockchain-based wallet while still using the traditional payment gateways will be the necessary first step towards bringing the efficiencies of distributed ledger technology to the financial system, Soh added. Asia is leading in blockchain finance Speaking about the development of blockchain-based finance in Singapore, Soh noted that except for Switzerland, there are hardly any other European countries that are as supportive of blockchain finance as Singapore.  According to Soh, Singapore is the closest to fully replacing the current financial infrastructure with one based on distributed ledger technology. He also highlighted that the governments of other Asian countries like Malaysia, Thailand, China, Japan, and South Korea were taking strong initiatives to bring distributed ledger technology into finance.  Reflecting on a similar point, Vinay Mohan, one of the early members of ConsenSys Singapore, said that the more SMEs and retail users gain access to democratized finance, the more mature Asia’s financial infrastructure will become.  Mohan stated that due to the complex nature of current banking infrastructure, 70% of South-East Asian SMEs struggle with proper digital financial services and the advent of blockchain and central bank digital currencies may pave the way to deliver banking services to those Asian businesses and
  • Chinese Province to Use Quarkchain for Construction Resource Management
    Chinese Province to Use Quarkchain for Construction Resource Management
    Blockchain firm Quarkchain announced a partnership with the ecological department of Northeastern Chinese province Shanxi. Blockchain firm Quarkchain has announced a partnership with the ecological department of Northeastern Chinese province Shanxi. Quarkchain and the Shanxi province will jointly develop an environmental governance platform on blockchain (EGPB).
  • The Popular Stablecoin Tether Is Now Circulating on the Bitcoin Cash Network
    The Popular Stablecoin Tether Is Now Circulating on the Bitcoin Cash Network
    The most popular stablecoin tether (USDT) has officially been minted on the Bitcoin Cash blockchain via the Simple Ledger Protocol (SLP).
  • Bitcoin Double-Spends an Inevitable Network Feature, Legitimate or Not
    Bitcoin Double-Spends an Inevitable Network Feature, Legitimate or Not
    Reports of double-spending keep plaguing crypto firms and investors alike.
  • Gibraltar Watchdog Grants License to Belarusian Crypto Platform
    Gibraltar Watchdog Grants License to Belarusian Crypto Platform
    Currency.com obtained a distributed ledger technology license from the Gibraltar Financial Services Commission. The Gibraltar Financial Services Commission, or GFSC, issued a new distributed ledger technology license to the Belarus-based cryptocurrency platform, Currency.com, on July 6. According to the announcement, the platform will be allowed to use DLT to store or transmit value belonging to others in connection with the provision of dealer and custody services thanks to the license granted by the GFSC. Jonathan Squires, CEO of Currency.com, gave some insight into the company’s intentions for the license: “Our operations in Gibraltar are part of our commitment to expanding across the globe, offering a blockchain-backed, highly regulated and secure service designed to give customers the flexibility they’ve been looking for.
  • Ledger Crypto Wallet Claims Purported Vulnerability Is User Experience Flaw
    Ledger Crypto Wallet Claims Purported Vulnerability Is User Experience Flaw
    Ledger’s chief technology officer Charles Guillemet said that the recently revealed vulnerability is nothing more than a user experience flaw. Leading crypto hardware wallet producer Ledger has denied that its product’s transaction management software featured a double-spend vulnerability. According to Ledger’s CTO Charles Guillemet, the vulnerability recently revealed by software wallet ZenGo is — in fact — nothing more than a user experience flaw.
  • Afghan Government to Use Blockchain to Combat Counterfeit Drugs
    Afghan Government to Use Blockchain to Combat Counterfeit Drugs
    Afghanistan’s healthcare ministry and several local pharmaceutical companies will use Fantom’s blockchain to combat counterfeit drugs. Afghanistan’s healthcare ministry and several local pharmaceutical companies will use Fantom’s blockchain to combat counterfeit drugs. According to Fantom on July 6, its Opera blockchain will be used to track 80,000 units of four different pharmaceutical products in Afghanistan.
  • Is the future of Insurance in Blockchain?
    Is the future of Insurance in Blockchain?
    A study conducted last year by PwC concluded that most insurance companies would integrate Distributed Ledger Technologies (DLT) in some capacity by 2021.
  • BCH Backer Claims Bitcoin Wallet Double-Spend Issue Hasn’t Been Fixed
    BCH Backer Claims Bitcoin Wallet Double-Spend Issue Hasn’t Been Fixed
    BRD, Ledger Live, and Edge are among the wallets vulnerable to a new double-spend exploit, but some believe the vulnerability is inherent to Bitcoin itself. On July 2, crypto security firm ZenGo identified a double-spend exploit targeting several popular Bitcoin (BTC) wallets, dubbed ‘BigSpender’ Of nine cryptocurrency wallets tested by ZenGo, BRD, Ledger Live, and Edge were found to have been vulnerable to the attack.
  • IRS Wants to Track ‘Nefarious’ Privacy Coin and Lightning Transactions
    IRS Wants to Track ‘Nefarious’ Privacy Coin and Lightning Transactions
    The IRS is looking to expand its investigative capabilities around privacy coins, layer-two solutions, and sidechains. The United States’ Internal Revenue Service (IRS) is seeking information and tools to help it trace transactions using privacy coins, layer two protocols such as Lightning Network and side chains like Plasma and OmiseGo (OMG). A June 30 request for information published by the US Department Of The Treasury reveals the IRS’ Criminal Investigation Division is seeking submissions for “an interactive prototype” with a graphic user interface for analyzing distributed ledger-based transactions involving privacy coins and other privacy-enhancing blockchain technologies. IRS peeks into privacy The document explicitly names Monero (XMR), Zcash (ZEC), Dash (DASH), Grin (GRIN), Komodo (KMD), Verge (XVG), and Horizon (ZEN) among the privacy coins that the IRS hopes to target, in addition to the layer-two solutions Raiden Network, Celer Network, and Lightning. The IRS requests that prototypes detail systems for “clustering transactions” from a single user who is using “privacy coins and obfuscation technologies”; compile a library of wallet addresses associated with “suspected or known to be involved in nefarious activities”; and identify other addresses associated with said nefarious wallets. The agency also requests that the system include “a mechanism for sharing investigative research between investigators”, secure data export and import functionality, and estimates on proposed systems’ cost and return on investment.  Hard to track privacy coins Despite the bold ambitions of the IRS’ cryptocurrency tracing initiative, the agency acknowledges that few resources currently exist for tracking the movements and addresses of privacy coins: “Currently, there are few investigative resources for tracing transactions involving privacy cryptocurrency coins, layer-two network protocol transactions, side-chain ledger tr
  • This Is What EU Wants From Blockchain and DLT
    This Is What EU Wants From Blockchain and DLT
    European Union recently rewarded six blockchain / distributed ledger technology (DLT) projects, showing its interest in teams that aim to solve sustainability challenges. The European Innovation Council (EIC), has awarded EUR 5 million (USD 5.7 million) to six winners of its call to propose ideas for "scalable, deployable and high-impact blockchain solutions for
  • Major Bitcoin wallets address double-spending attack exploit
    Major Bitcoin wallets address double-spending attack exploit
    A potential exploit, uncovered by ZenGo and described by Ledger as a "clever piece of trickery," has largely been fixed in the affected wallets—although some vulnerabilities remain.
  • Researchers Expose Flaw in Bitcoin Wallets That Could Be Exploited for Double-Spending
    Researchers Expose Flaw in Bitcoin Wallets That Could Be Exploited for Double-Spending
    A standard way to transact Bitcoin could be vulnerable to double-spending and DoS attacks, ZenGo has found.
  • Manga Book Promises to Teach Readers about Basics of Blockchain
    Manga Book Promises to Teach Readers about Basics of Blockchain
    The link between blockchain, crypto and manga continues to deepen in Japan – where a software company has published a new book explaining all the intricacies of blockchain, cryptocurrencies and distributed ledger technology using the power of manga. Entitled “Blockchain through Manga” (rough translation), the book is the brainchild of software and computer network systems
  • Beijing Plans to Foster DLT Unicorns Through New Blockchain Investment Plan
    Beijing Plans to Foster DLT Unicorns Through New Blockchain Investment Plan
    China’s capital city has unveiled an ambitious plan to transform Beijing into a global hub for private blockchain innovation and leader in public DLT deployment. The municipal government of Beijing has unveiled a 20-point plan to accelerate the development and deployment of distributed ledger technologies (DLT) and turn Beijing into both a global and national hub for blockchain tech. According to an announcement published on July 1, the plan seeks to “promote theoretical innovation, technological breakthroughs, [...] talent cultivation,” and “create new economic growth.” The government will provide continued financial support for the plan throughout its course. Beijing wants to host DLT unicorns The Beijing Blockchain Innovation Development Action Plan 2020–2022 outlines the city’s intent to solidify itself as a global leader in both private blockchain innovation and public DLT deployment by the end of the next year. Fostering a good business climate for blockchain innovation is cited as a top objective of Beijing, with “cultivating a group of unicorn enterprises” listed among the plan’s goals. To promote innovation, the city will establish a “blockchain industry innovation development base” spanning the city's top districts for financial and technological innovation.  Beijing also plans to promote the establishment of standards of practice for the blockchain sector. The city hopes to “cultivate a group of unicorn enterprises and leading enterprises with global influence” through its initiatives. Beijing to establish blockchain research institutes The plan outlines initiatives to support research in key areas relating to DLT — including cryptography, high-performance computing and chip technology. Beijing will establish a blockchain-focused research and development institution that will work closely with China’s existing research institutions and universities.
  • Australian Securities Exchange Switch to Blockchain Delayed to 2022
    Australian Securities Exchange Switch to Blockchain Delayed to 2022
    After stakeholders raised concerns about the Australian Securities Exchange’s blockchain infrastructure plan, it has been postponed until 2022. The Australian Securities Exchange (ASX) has further delayed its switch to blockchain after public lobbying from key stakeholders. According to a June 30 update from the ASX, the exchange has officially delayed the rollout of Distributed Ledger infrastructure to replace its current system for processing equity transactions.
  • Incognito Blockchain Launches DeFi Privacy for Kyber
    Incognito Blockchain Launches DeFi Privacy for Kyber
    The Incognito privacy project released pKyber, which enables users to hide their activity from the public Ethereum ledger within the Kyber Network. Privacy blockchain Incognito has released Kyber Privacy (pKyber), a privacy feature for decentralized finance within the Kyber Network for users from both parties to trade anonymously. First announced on April 24, Incognito’s open-source technology enables anonymity for smart contract-based protocols, making it possible for any Ethereum-based decentralized app to integrate pKyber. Making DeFi private The company claims that the DeFi environment is increasingly facing privacy concerns from seasoned crypto users and traditional investors looking to explore “a new economy.” Within the integration, Incognito will offer users the option to hide their activity from the public Ethereum ledger. Speaking with Cointelegraph, Andrey Bugaevski, CEO of Incognito, explained the motivations that drove them to develop a DeFi privacy feature: “In decentralized finances, the highlighted word is finances.
  • Switzerland Won’t Amend Tax Law in Regard to Blockchain in Near Future
    Switzerland Won’t Amend Tax Law in Regard to Blockchain in Near Future
    Switzerland does not need to amend its current tax legislation to cover blockchain-based arrangements, the Federal Council believes. Switzerland’s existing tax law is applicable to developments in the blockchain industry, the Swiss Federal Council said. According to the federal authority, Switzerland does not need to amend its existing tax legislation in regard to blockchain and distributed ledger technology, or DLT. No legislative action is necessary regarding blockchain industry In a June 19 meeting, the Federal Council has addressed a report on the need to amend Switzerland’s tax law in response to DLT and blockchain developments.
  • Hedera Brings HBAR to 5M BRD Wallet Users, Announces Hackathon Winners
    Hedera Brings HBAR to 5M BRD Wallet Users, Announces Hackathon Winners
    Hedera Hashgraph, a public distributed ledger platform and a blockchain alternative for corporations, has announced a partnership deal with the BRD consumer wallet, which it says will bring its HBAR token to 5 million wallet users. The company also announced the winners of a recent virtual hackathon. Hedera and BRD have entered a strategic relationship, per a press release
  • Ledger Will Provide its First Crypto Lending Partner YouHodler with Crypto Insurance
    Ledger Will Provide its First Crypto Lending Partner YouHodler with Crypto Insurance
    FinTech platform and crypto-backed loan service provider YouHodler has selected digital asset wallet provider Ledger Vault to be implemented across its platform, to offer its users an added layer of security and protection.
  • Power Ledger’s Blockchain P2P Energy Trial ‘Technically Feasible,’ It Says in New Report
    Power Ledger’s Blockchain P2P Energy Trial ‘Technically Feasible,’ It Says in New Report
    A solar energy trading trial run by blockchain startup Power Ledger has found its initiative to be "technically feasible."
  • Meet Mistcoin – The First Mineable SLP Token Implementation Launched on Bitcoin Cash
    Meet Mistcoin – The First Mineable SLP Token Implementation Launched on Bitcoin Cash
    Bitcoin Cash proponents have been introduced to a new project built using the Simple Ledger Protocol (SLP) framework called mistcoin (MIST).
  • Simple Ledger Protocol Universe Is Thriving: Lottery, Mint, ATMs, Over 8,500 SLP Tokens Created
    Simple Ledger Protocol Universe Is Thriving: Lottery, Mint, ATMs, Over 8,500 SLP Tokens Created
    It’s been close to twelve months since we reported on the vast Simple Ledger Protocol (SLP) universe built on top of the Bitcoin Cash chain.
  • Cryptocurrency News From Japan: June 14 - June 20 in Review
    Cryptocurrency News From Japan: June 14 - June 20 in Review
    A new report on Japanese crypto regulation, an institutional crypto custody service, and more headlined news from Japan this past week. This week’s headlines from Japan included research company Xangle releasing a report on Japanese crypto regulation, Binance supporting Japan's language but not its residents, SBI Holdings turning gift certificates digital with blockchain, and Nomura Holdings opening a crypto custody service with Ledger and Coinshares.  Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Research outfit details Japanese crypto regulation A new report surfaced last week from research outfit Xangle regarding Japanese digital asset regulation.
  • Japanese Banking Giant Nomura Partners With Ledger and CoinShares To Launch Bitcoin Custody
    Japanese Banking Giant Nomura Partners With Ledger and CoinShares To Launch Bitcoin Custody
    Nomura Holdings, one of Japan’s largest financial companies, has launched a Bitcoin custodial service for traditional investors through a joint venture with hardware wallet provider Ledger and investment company CoinShares.
  • Bitcoin’s Rise Driven by Institutional Trading, Says Research and Investor Sentiment
    Bitcoin’s Rise Driven by Institutional Trading, Says Research and Investor Sentiment
    The cryptocurrency bitcoin is trading at an all-time high relative to its social activity, explains the crypto research firm Tie.
  • Blockchain Security: Preventing Fraud on Distributed Ledger Technology
    Blockchain Security: Preventing Fraud on Distributed Ledger Technology
    The emerging distributed ledger technology industry has been threatened by various illicit activities.
  • French Fintech Firm Announces $78.5M Paris Real Estate Tokenization Deal
    French Fintech Firm Announces $78.5M Paris Real Estate Tokenization Deal
    French financial technology firm ID Distribution announced a joint venture with local real estate firm Groupe JRI, amining to tokenize Paris properties. French fintech firm ID Distribution announced a joint venture with local real estate firm Groupe JRI, amining to tokenize various properties in Paris. According to a June 17 announcement, ID Distribution and Groupe JRI plan to jointly issue security tokens and a Frankfurt listed bond to acquire buildings in downtown Paris.
  • Chinese Tech Giant Tencent Files New Slew of Blockchain Patents
    Chinese Tech Giant Tencent Files New Slew of Blockchain Patents
    Tencent has reportedly expanded its dominance in blockchain patents after filing for DLT-based fund management, advertising and media storage solutions. Tencent has been expanding its research into blockchain, with the firm registering a series of patents detailing distributed ledger technology (DLT)-based solutions for fund management, and advertising. Chinese media outlet Egsea reported the patents on June 18, noting that the filings also included blockchain-based consumer applications, hardware devices, and media storage systems. The recent filings come as blockchain sees increasing enterprise adoption in the areas of cloud, artificial intelligence and internet-of-things (IoT). Tencent continues amassing DLT patents The new filings will extend Tencent’s presumed dominance in the number of blockchain patents held. In April, media outlet China Banking News reported that Tencent had amassed more patents in 2019 than any other firm, having filed for 718 during last year alone.  With the report estimating that 5,800 patents for blockchain technologies were filed in 2019, Tencent represents 12.4% of all patents filed last year. Tencent invests heavily in blockchain In May, Tencent announced that it plans to invest $70 billion into emerging technologies over the next five years, with blockchain named alongside cloud computing, artificial intelligence and IoT as prioritized sectors. The following week saw Tencent announce its intent to establish a 100-member blockchain alliance by the end of 2020.
  • Nomura-Backed Crypto Custody Venture Launches After 2 Years in the Works
    Nomura-Backed Crypto Custody Venture Launches After 2 Years in the Works
    CoinShares, Nomura Bank, and crypto security firm Ledger have formally launched a digital asset custody business targeting institutional investors.
  • Ledger Bitcoin Selling Feature and More Coins Coming 'Soon'
    Ledger Bitcoin Selling Feature and More Coins Coming 'Soon'
    Major crypto hardware wallet manufacturer Ledger has more in store when it comes to its crypto features, the company confirmed via their PR representative. As reported previously, Ledger launched a crypto buying option directly on their Ledger Live application.
  • New Decentralized Cybersecurity Solution Enables Passwordless Logins
    New Decentralized Cybersecurity Solution Enables Passwordless Logins
    Blockchain cybersecurity firm Unbound Tech launched a new login solution meant to enable businesses to go passwordless. Blockchain cybersecurity firm Unbound Tech launched a new login solution meant to enable businesses to go passwordless. According to an announcement on June 17, Unbound Tech’s new identity solution removes the dependence on traditional authentication methods with a decentralized key management system.
  • Japanese Financial Giant Nomura Launches Digital Asset Custody Service
    Japanese Financial Giant Nomura Launches Digital Asset Custody Service
    Japan looks to have a brand new crypto player – with big-hitting financial group Nomura launching digital token-related business activities. Per Japanese media outlet CoinPost, the Japanese company has teamed up with crypto firms Ledger and CoinShares to launch B2B “digital assets” custodial services with a Jersey-based platform named Komainu. Nomura provides retail
  • CoinShares, Ledger and Nomura Release Long-Awaited Custody Platform
    CoinShares, Ledger and Nomura Release Long-Awaited Custody Platform
    Global investment bank Nomura, hardware wallet manufacturer Ledger, and digital asset manager CoinShares, have released an institutional-grade custody platform to the wider market. Global investment bank Nomura, digital asset manager CoinShares, and hardware wallet manufacturer Ledger, have finally launched their institutional-grade custody platform Komainu to the wider market. They’re billing Komainu as the first hybrid institutional-grade custody platform that can seamlessly integrate with legacy financial technology. CoinShares first examined existing custody products before deciding to develop their own solution in order to meet their security & business requirements back in 2018. The
  • Ledger and Nomura launch institutional-grade Bitcoin custody service
    Ledger and Nomura launch institutional-grade Bitcoin custody service
    A large investment bank has launched a crypto custodian service for institutional investors.
  • South Korea to Review Legal Issues Surrounding Potential CBDC Launch
    South Korea to Review Legal Issues Surrounding Potential CBDC Launch
    The Bank of Korea has tapped six experts to assess possible legal issues surrounding the launch of a central bank digital currency. South Korea's central bank, the Bank of Korea, has formed a legal advisory group to evaluate issues surrounding a potential central bank-issued digital currency (CBDC) launch. According to a press release the central bank issued earlier today, the group includes six experts, namely three professors, two lawyers and one BOK official.  The panel will reportedly operate until May 2020, although the BOK’s CBDC plans are not set in stone.  Notably, back in April the central bank launched a 22 month-long pilot scheme to assess the logistics of issuing a CBDC, meaning that the program will operate longer than the newly appointed legal advisory group.  The April announcement stressed that the BOK does not see an immediate need to release a CBDC in South Korea, but wishes to be prepared in case the government decides to go ahead and introduce a digital won. Digital yuan will most likely outrace a digital won  A recent article from South Korean news outlet Yonhap suggests that local merchants are ready to accept CBDCs, even ones issued by foreign central banks.  Specifically, the article stressed that domestic retailers have been increasingly considering taking advantage of China’s upcoming digital currency, the digital yuan, once the coronavirus-related travel restrictions lift and Chinese tourists come back to South Korea. In a recent interview with Cointelegraoh, Glenn Woo, Ledger Vault’s head of the Asia-Pacific region, predicted that China’s state-backed virtual currency will be the first to launch worldwide.
  • Leading Middle East Telecoms Firm Zain Joins Hedera Governing Council
    Leading Middle East Telecoms Firm Zain Joins Hedera Governing Council
    Major telecoms provider Zain has joined the governing council for distributed ledger platform Hedera Hashgraph. Zain Group — a leading telecoms provider in the Middle East and North Africa (MENA) region — has joined the governing council for enterprise-grade distributed ledger platform Hedera Hashgraph. Zain provides mobile voice and data services to over 49.5 million active customers and has a commercial presence in eight countries in the MENA region — including Kuwait, Bahrain, Iraq, Jordan and Saudi Arabia.
  • Hardware Wallet Maker Ledger Joins the Universal Protocol Alliance
    Hardware Wallet Maker Ledger Joins the Universal Protocol Alliance
    The high-profile wallet maker will be integrating its security and infrastructure solutions with Universal Protocol technology and assets.
  • Baseline Co-Founder Says Crypto Is 'Pre-CompuServe' an Still in Its Early Days
    Baseline Co-Founder Says Crypto Is 'Pre-CompuServe' an Still in Its Early Days
    The co-founder of the Baseline Protocol believes that crypto is still 15–20 years away from finding significant mainstream adoption. ConsenSys developer and Baseline Protocol co-founder, John Wolpert, has predicted that we may still be decades away from seeing wholesale mainstream adoption of crypto assets and distributed ledger technologies. “My personal point of view is that these things tend to run in 20-year cycles,” Wolpert told Cointelegraph. “Everybody who's running companies today needs to retire.
  • China Could Roll Out Its CBDC Without Anyone Realizing
    China Could Roll Out Its CBDC Without Anyone Realizing
    Ledger’s Glen Woo believes that China’s central bank digital currency could be deployed using existing payment rails without citizens noticing the change. China has emerged as the world’s leader in central bank digital currency, or CBDC, development, driving speculation surrounding the country’s domestic and international ambitions for its CBDC. Speaking to Cointelegraph, Glenn Woo, Ledger Vault’s head of the Asia-Pacific region, predicted that China’s state-backed virtual currency will be the first to launch worldwide. Woo emphasized the speed with which China’s government can deploy major initiatives on a national scale, suggesting that its early CBDC trials with 19 businesses including Starbucks and McDonalds may quickly grow to encompass a much larger pilot.
  • Turkish Stablecoin Issuer Predicts New Blockchain Regulations
    Turkish Stablecoin Issuer Predicts New Blockchain Regulations
    The co-founder of Turkish stablecoin project BiLira predicts that Turkey’s government will soon introduce new regulations for blockchain within the next year. The co-founder of BiLira (TRYB), the first stablecoin pegged to the Turkish Lira, is predicting that Turkey will announce a new regulatory framework for blockchain “within the next year.” In an interview with Cointelegraph, Vidal Arditi, BiLira’s COO and co-founder, predicted that the updated apparatus will be designed “to protect the average guy and the investors and not inhibit the growth of the sector.” Arditi also emphasized that Turkey’s government has been heavily investing in the country’s blockchain future, asserting that Turkey’s leaders have been heavily “backing blockchain associations, blockchain student clubs, blockchain accelerators and such,” adding: “I'm sure we'll see a lot more projects in the crypto space one year from now in Turkey, and we’ll see how the government will respond.” Turkey at inflection point for DLT Arditi described Turkey as at “a point of inflection” regarding blockchain, noting that the central bank “publicly declared that they would like to have a cryptocurrency or a distributed ledger technology-based currency to transact values.” BiLira’s COO stated that the stablecoin is openly supported by Turkey’s top government agencies, stating: “we've actually been really in close talks with both the central bank [and] the banking regulator’s department.” Adding: “Both the central bank and the Banking Regulation [and Supervision Agency] have saluted us and have told us that they want to see us succeed and they are here to help.” Despite the government’s permissive stance regarding blockchain and stablecoins, Arditi noted some challenges in seeking assistance from local legal professionals experienced with distributed ledger technologies, or DLT. “Blockchain and cryptocurrency is a relatively infant ecosyste