The Spanish cryptocurrency project CryptoSolarTech, which promised to launch mining farms using solar energy, decided to reimburse all funds collected within the ICO to investors. The reason is that it did not manage to receive permits from the Spanish authorities.

Tesla CEO spoke again in favor of decentralized currencies, forecasting that cryptocurrencies will be able to replace traditional paper money in the furutre.

Afri Schoedon announced that he quits social media as he fell victim to criticism after he had compared the Serenity technology, which Ethereum developers are working on, with the Polkadot protocol, whose infrastructure is being developed by the Parity team.

Two pension funds from Fairfax County in Virginia invested in Morgan Creek fund focused on financing cryptocurrency and blockchain projects. The total investment amounted to $21 million.

One of the largest investment banks in the world, JPMorgan Chase, announced that it issued its own digital currency to make instant payments. Of course, there is no talk of decentralization or real cryptocurrency.

Craig Wright, who tried to convince the world that he is Satoshi Nakamoto who created bitcoin, made changes to his blog posts in order to prove his involvement in the invention of the first cryptocurrency, experts of WikiLeaks found out.

The share of miners using ASICs still accounts for the bulk of the Monero network hashrate. ASIC miners dominate the Monero blockchain, despite changing the algorithm and hard forks.

The long-awaited launch of the Bakkt trading platform, focused on institutional investors, is once again postponed. The reasons are not disclosed.

At the end of February, two updates will be activated at once in the Ethereum blockchain ecosystem. The long-awaited hard fork Constantinople will be combined with another update.

Ethereum co-founder Vitalik Buterin questioned the decentralization level of those cryptocurrencies that promise a high transaction throughput and stood up for the Proof-of-Work algorithm.

Another country that faces a financial crisis due to the US sanctions issues its own national cryptocurrency. A group of Iranian banks presented a PayMon pegged to gold.

Islamic revolution in digital

Four Iranian banks (Bank Mellat, Bank Melli Iran, Bank Pasargad, and Parsian Bank) presented PayMon cryptocurrency, each coin of which is backed to gold reserves. Technical support for the project was provided by the blockchain-startup Kuknos.

The primary issue of PayMon tokens was 1 billion coins. As expected, they will be traded on the Iranian over-the-counter Fara Bourse platform.

PayMon in Persian means “covenant”.

The goal of the project is to tokenize the assets of banks and financial institutions, said Valiollah Fatemi, director of Kuknos. It is still unknown which blockchain the Iranian cryptocurrency is built on. The Iranian Central Bank also remained silent on the four banks' initiative.

Crypto rial

Against the background of tough economic sanctions imposed by the United States, the Islamic Republic decided to partially lift the ban on cryptocurrency turnover and announced plans to issue its own stablebcoin pegged to the national currency rate. A week ago, the media reported that the Central Bank of Iran was ready to partially remove the ban on cryptocurrencies, while Iranian banks made public their plans to launch their own stablebcoin.

According to Al-Jazeera, Russia was helping Iran to create digital currency, although this information was not yet confirmed. According to some sources, the Central Bank of Iran will only ban the use of "unapproved" cryptocurrencies. The list of allowed cryptocurrencies will be updated every three months. According to rumors, Iranians may be allowed to own cryptocurrencies, but not more than 10,000 euros in equivalent.

Cryptocurrency users often lose access to their funds, not because of hacker attacks, but due to their lack of technical literacy, said crypto-enthusiast Andreas Antonopoulos.