Malaysia is planning to impose a $6,000 limit on cash transactions in 2020, according to a deputy governor at the country’s central bank. The new restrictions aim to prevent the use of cash in illicit activities, and won’t affect regulated financial institutions or other entities transacting for humanitarian aid purposes.
The average Malaysian household spends $1,900 per month
San Francisco-based crypto lending and borrowing firm Dharma has announced the start of a closed beta for a new version of its platform.
Upcoming changes and short-term timeline
Dharma announced its new platform iteration in an official blog post on Aug. 29. According to the announcement, Dharma has partnered with the Ethereum-based money market Compound and will reportedly use its protocol as infrastructure for the new platform. Additionally, Dharma will now make its smart contract
Binance Research, the research arm of the major crypto platform Binance, has reported that no bank account will be necessary to use China’s Central Bank Digital Currency (CBDC).
Loose coupling and anonymity
Binance Research shared its findings on Aug 28. According to the report, China’s CBDC will be transferable without a bank due to its loosely coupled design. As explained by the researchers, a loosely coupled design refers to a system of components that do not all depend on each other.
The upshot is that users will reportedly be able to transfer the CBDC to one another with