As per the growing interest of the entire world for the cryptocurrency, Mongolia’s largest telecoms operator has finally decided to become the first licensed body in the country to issue their own cryptocurrency (digital currency). This report was published on 28th September. This is not all the financial branch named Mobifinance has been issued the license for issuing of the e-currency, dubbed “Candy” to the investors in the country.
This permission was officially and formally given to the executives at the ceremonial event at the bank of Mongolia’s headquarters on Friday.
This happened after 5 months when Mongolia’s Central Bank actually approved formal digital currency regulation. The CEO, Mobicom, Tatsuya Hamada mentioned in an interview that with digital currencies being regulated and approved, ATMs and cards might become a thing of the past.
As per the central bank’s plans with the digital currency, it is clear that the regulations will decide who is going to participate in the digital currency system along with the decision in regards to “how”. These regulations will also define the process and method of getting permission as well as rights along with the duties of customers and service providers.
The reports clearly reflect that Candy already exists as an entire exosystem for all the Mongolian consumers who are fond of using cryptocurrency to pay for different goods and services over the wide range of the businesses.
