Ripple sues YouTube, and the Netherlands want to become a springboard for testing digital euro

Ripple sues YouTube

Ripple has filed a lawsuit against YouTube for reputational harm. The company believes that YouTube experts are ineffective in identifying scam projects disguised as Ripple and their representatives.

“Across the industry, social media companies have failed to police their platforms from being abused by the entirely preventable imposter giveaway scams,” the statement says.

The startup wants to receive financial compensation for reputational damage inflicted to its CEO, Brad Garlinghouse. Earlier, a YouTube channel was discovered where fraudsters impersonating Ripple’s CEO urged users to transfer XRP tokens to the specified address and receive from 20 thousand to 5 million coins back.

Bianco Research: Bitcoin will become a global reserve asset

Bitcoin will replace the USD as the world’s main reserve asset, said Jim Bianco, CEO of an analytical company Bianco Research.

According to him, during the crisis caused by the coronavirus pandemic, people are buying up USD as the most reliable asset for saving. In addition, funds are flowing in USD from energy markets that are in a shaky position.

“If you are Chinese and want to trade Brazilian forest, then you indicate the price and pay for the goods in dollars. This is what you do most of your time,” said Bianco.

However, investors are looking for other assets to hold funds, and cryptocurrencies are one of the most attractive options. So far, digital currencies cannot compete with the dollar, but over time, states will increase their share in their reserves, the analyst said.

The Netherlands is ready to become a “world leader” in the development of CBDC

The Central Bank of the Netherlands published a report in which it announced its readiness to play a leading role in the development of the digital national currency.

Cash is outdated, and already two-thirds of operations in the country are carried out in digital form, the Central Bank says.

“A question that naturally springs to mind is whether central banks should provide a new type of money that is better attuned to the needs of citizens and firms,” the report says.

The regulator indicates that the Netherlands is already playing a “leading role” in the field of digital payments, and if the European Central Bank wants to test the virtual euro, their country is ideal for this.