Mongolia Allows Cryptocurrency, Permission Given to Mobile Operator

On Friday, Sept. 28, Mongolia’s central bank permitted the mobile phone operator Mobicom to issue its own cryptocurrency.

Mobifinance, the financial arm of Mobicom, received the permission to issue the cryptocurrency dubbed “Candy” at the event at the Bank of Mongolia headquarters on Friday. The central bank has recently approved the regulation on digital currencies.

“As digital currencies have begun to circulate, ATMs and cards will become a thing of the past as well,” Mobicom CEO Tatsuya Hamada commented on the accomplishment.