Sep 122014
 
Ecuador Bans Decentralized Cryptocurrencies; Institutes State-run Cryptocurrency

I just heard the news from Ecuador a few days ago after seeing an article from CBS Money Watch. After some research, I learned that the Ecuadorian National Assembly actually voted in July to ban cryptocurrencies. At the same time, the National Assembly voted to create a State-run cryptocurrency that some believe may replace the USD as the official currency of the socialist nation. President Rafael Correa denies any plan to replace the U.S. dollar, […]