Daily Crypto News 12 July

The Chinese central bank is "very concerned" about the global financial risks associated with digital currencies, Cointelegraph reported. The speed with which private patent systems are evolving is "alarming," said Fan Yeifei (deputy governor of the People's Bank of China, PBoC). He also noted that globally stablecoins can bring risks. The Chinese government has questioned the issue and has already taken action. 

According to Bitcoin Magazine, Argentina seems to be following in the footsteps of El Salvador, who made Bitcoin legal tender recently. José Luis Ramón, a member of Argentina’s National Congress, has submitted a project that allows us to work to get our pay in bitcoin. Ramon said that working in this way would strengthen our own autonomy and wage management.

According to a Coindesk’s survey, 54% of El Salvador's citizens believe that the newly developed Bitcoin Law as a means of payment is completely wrong. Only around 20% were in approval of it. This law provoked the indignation of political critics who said that the Bitcoin Law violates constitutional rights.

Coindesk announced that the company Square build a plans for a bitcoin hardware wallet. Hardware Lead Jesse Dorogusker says that their main purpose is to make bitcoin custody more mainstream.