Key Takeaways
- Australia wants to change crypto regulations.
- Zimbabwe Central Bank states that they lack belief in digital currencies.
- Barry Sternlicht, chairman of Starwood Capital Group, called bitcoin a smart hedge.
The proposed regulations will "widen the description of goods and services that can be governed" in an endeavour to revitalise Australia's payment systems, Frydenberg said during an interview with 7NEWS Australia on Wednesday, bringing digital currencies and assets "out of the shadows" and into a "world-leading" regulatory framework.
Companies that buy and trade cryptocurrency, according to the treasurer, would need to be licensed in order to provide users with safety and security. According to the Australian Financial Review, the government will develop a licensing strategy for cryptocurrency exchanges next year.
As per Frydenberg, the Treasury will collaborate with the central bank on a digital currency.
''We Don't Believe in Digital currencies,'' says Zimbabwe's central bank chief.
The Reserve Bank of Zimbabwe stays opposed to digital currencies, although its governor has stated that the bank is willing to produce its own digital money.
John Mangudya, the Reserve Bank of Zimbabwe (RBZ) governor, has showed interest in launching a central bank digital currency (CBDC). He noted that the central bank, on the other hand, does not believe in digital currencies.
Mangudya said this during a conversation with Trevor Ncube, a senior Zimbabwean journalist, according to a Bloomberg article. Mangudya presented the central bank's views on how it expects to follow the example of other nations that have launched their CBDCs in statements that looked to be a reaffirmation of the government's recently announced position on digital currency.
He elaborated:
We don't believe in cryptocurrency as a central bank. We believe in central bank digital currency, which is really a way of saying, "How can we have an e-Zimbabwe dollar rather than cryptocurrency?"
A Zimbabwe government official stated in November, as initially disclosed by Bitcoin.com News, that his administration is amassing opinions on CBDCs and cryptocurrencies. The official's comments sparked speculation that Zimbabwe will adopt cryptocurrency. The nation's communication minister, however, eventually rejected these reports.
Barry Sternlicht talks about Bitcoin's ascent to $1 million and terms it a "smart" hedge.
Barry Sternlicht, chairman of Starwood Capital Group, has given his thoughts on how bitcoin could rise to be worth a million dollars per coin. When the government continues to print money, he calls cryptocurrencies a "smart" hedge.
While speaking at a Bloomberg event in Miami on Friday, billionaire Barry Sternlicht, chairman of Starwood Capital Group, discussed the prospects for crypto, notably bitcoin.
Sternlicht is the founder and CEO of Starwood Capital Group, a real estate-focused private equity business. The firm manages around $100 billion in real estate, debt, and energy assets. His current net worth is $4.2 billion, as per Forbes' list of billionaires.
"Is that how we all should be thinking?" the billionaire was asked, referring to his bitcoin holdings as a "wonderful hedge." "Yes," Sternlicht said emphatically.
He explained that we live "in a world where the government just prints money continuously, the only thing they can't manufacture more of is bitcoin, '' the billionaire said, adding, "Sometimes, it will end."
He went on to say that bitcoin has "never been breached," but that "it has no real worth other than the fact that there are 21 million coins" that are "infinitely divisible."
In contrast, gold "actually doesn't have a lot of value," he said, adding, "You can have your gold jewelry, but it might be silver, titanium, or platinum."
