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Bitcoin Daily: Turkey To Test Digital Currency In 2021; Japan Prepares To Issue CBDC; Bitcoin Crests $28,000

The price of bitcoin has passed $28,000 on Sunday (Dec. 27) just hours after also passing $27,000 for the first time, according to the NASDAQ.

In a continuing showing of the strength of the cryptocurrency, bitcoin is now valued at $500,000, according to the report.

The rise of the currency’s value has been surging just over the past holiday weekend, breaking $25,000 on Friday (Dec. 25) and then $26,000 on Saturday (Dec. 26).

In the U.K., bitcoin has become available at over 16,000 ATMs in December of this year, a press release from East London-based cryptocurrency company BitcoinPoint says.

With the new updates, holders of bitcoin can cash out their money at Cashzone ATMs, which are the country’s most widely-used machines.

The update will help to alleviate a common issue with bitcoin in that there were few user-friendly, secure methods to buy, sell and use cryptocurrency in general. The new partnership will do well for the mass-adoption of crypto, the company anticipates.

Binance KR will cease operations because of low usage and volume with limited trading pairs of BKRW. That resulted in limited liquidity for users, a company blog says.

After the closure of the exchange, the Binance KR team plans to look over its strategy.

The exchange will close trading services on Jan. 10, 2021 at 1 p.m., and the anticipated hard shutdown will take place Jan. 29, 2021, the blog says.

Japan might look into launching its own central bank digital currency (CBDC) in both the public and private sectors, according to a report from Japan Times.

Hiromi Yamaoka, a former senior official in charge of payment and settlement systems at the Bank of Japan, said China’s recent move toward adopting digital yuan had inspired other countries to try their hands at it, the report says.

While there are no immediate plans, the Bank of Japan (BOJ) will launch a feasibility study on the idea next spring.

Turkey is planning on piloting its own CBDC in the second half of 2021, according to a report from CoinDesk.

Naci Agbal, the country’s central chief banker, said as much in a statement to members of parliament Friday (Dec. 25). The project had not been previously disclosed, and Agbal said the conceptual phase was already done and ready for further pilot action next year.

With the surprise announcement, Turkey now joins Sweden, China and the Bahamas in some of the lone countries progressing to a pilot phase for CBDC.

Miami Mayor Francis Suarez might want to make his city a hub for crypto at the government level, a report from CoinDesk says.

Suarez announced on Twitter that he was considering the idea of a crypto-based local government, and tagged Anthony Pompliano, founder and partner of Morgan Creek Digital, who is a new Miami resident and crypto Twitter celebrity, to ask for help. He said he wanted the city to be the “vanguard” of innovation for crypto.

Suarez has also pushed for Silicon Valley tech experts not happy with California’s regulations to move to his city instead.

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