India currently ranks sixth in the world in terms of crypto ownership, with 7.10 per cent of its population owning crypto assets, according to Tipalti, a global partner system for payment automation.
China, despite the widespread ban on crypto services and transactions, ranks first with 16.23 per cent of its nationals owning cryptocurrencies, according to Tipalti. The US has the world’s second largest proportion of its population owning crypto assets at 13.38 per cent, followed by Singapore at 11.05 per cent.
“Singapore has the most promising digital economy, with a score of 10. It is the fifth largest exporter of integrated circuits in the world, with exports in 2020 worth $62.7 billion, while total tech exports reached $193.93 billion in the same year,” the report said.
“China has by far the highest annual tech exports at $942.31 billion. Denmark has the fastest median Internet speed of any country in our study at 123.96 Mbps,” it added
Indonesia is the country with the highest technical skills proficiency and data science skills, whereas Greece scored the highest on the National Cyber Security Index.
Canada Bans Algorithmic Stablecoins
Canadian Securities regulators have listed new legal requirements for crypto companies. Stablecoin platforms will also came under increased scrutiny now.
Stablecoins are cryptocurrencies designed to maintain a relatively “stable” value, usually in reference to a typically non-volatile asset, such as fiat currency.
Now prior written consent of the Canadian Securities Administrators (CSA) will be required for crypto asset trading platforms to let customers buy or deposit Stablecoins, or other "Value Referenced Crypto Assets" (VRCAs).
“Obtaining consent means meeting the administrators’ many due diligence requirements, including ensuring that the Stablecoin is fiat-backed,” decrypt quoted CSA as saying.
“For greater certainty, we would not expect to provide consent in respect of a VRCA that is not fully backed by an appropriate reserve, but rather maintains its value through an algorithm,” CSA wrote.
Blur Founder Revealed As 24-Year-Old High School, MIT Dropout
The founder of Blur, a cryptocurrency that topped trending charts over the last few weeks, has revealed his identity after users on Crypto Twitter began piecing it together.
Tieshun Roquerre, who goes as Pacman online, is the co-founder of Blur, the non-fungible token (NFT ) marketplace that has quickly taken OpenSea’s spot as the top NFT exchange by volume.
A 24-year-old software engineer, Roquerre worked at the e-commerce site Teespring before dropping out of high school, decrypt reported.
He then co-founded StrongIntro before a two-year stint at the Massachusetts Institute of Technology (MIT). He then dropped out of MIT to start a crypto domain start-up called Namebase.
Blur now holds 80.6 per cent market share among NFT exchanges, while OpenSea takes about 14.5 per cent, based on trading volume.
