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The Japanese government declared a state of emergency for the fourth time / Paraguay plans to make Bitcoin as legal tender

 

The Japanese government declared a state of emergency for the fourth time

The Japanese government announced that in response to the rebound of the new crown epidemic in Tokyo, it must enter a state of emergency for the fourth time. In addition, Okinawa Prefecture, Chiba Prefecture, and Osaka Prefecture have also implemented emergency measures and key measures to prevent spread. During the state of emergency, all restaurants are prohibited from serving alcoholic beverages and can only be open until 8 pm. The relevant measures will be maintained until August 22, which means that most of the Tokyo Olympic Games will be closed. The weak recovery of the Japanese economy under the repeated COVID-19 pandemic has increased the market’s expectations that the Bank of Japan may need to push forward stimulus policies. This is clearly at odds with the tightening policy stance of major central banks around the world, and may limit the yen’s hedging appeal in the short term.

Paraguay plans to make Bitcoin as legal tender

Following the announcement of the Central and South American country El Salvador last month that it accepted Bitcoin as one of its legal tenders. According to market news, Paraguay, a South American country, also plans to introduce a new cryptocurrency bill. It is understood that the bill will be submitted to the Congress on Wednesday (14th) as soon as possible. Once passed, it may accept Bitcoin as legal tender, which will enable Paraguay Becoming a cryptocurrency investor, enterprise, and mining operation center will help reduce the impact of U.S. monetary policy on the local economy. As more Central and South American countries gradually accept Bitcoin as legal tender, the attractiveness of the U.S. dollar may be gradually reduced in the long run.


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