Mongolia welcomes its new digital currency in the latest digital currency news, as the country’s largest mobile telecom operator acquired a license to issue the currency according to the report today, September 28.
Mobicom, the mobile operator is now free to issue the e-currency and the executives received permission on a formal, ceremonial event at the Bank of Mongolia’s headquarters.
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Mobicom’s CEO Tatsuya Hamada was strongly bullish on this technology’s role in the future of the economy but he was happy to comment on this event as a great achievement right after the central bank approved the digital currency regulation.
He said:
“As digital currencies have begun to circulate, ATMs and cards will become a thing of the past as well.”
The bank made priority plans for digital currencies and the major plan was the regulation to define ‘’who will participate in the digital currency system’’ and also regulate the way of getting permission and protect the rights of customers and providers.
Montsame also stated that:
“It also expected to support further development of FinTech technology and payment system.”
There is, however, a Mongolian ecosystem named Candy where customers can use digital currency in order to pay for different services and goods.
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