JUN 1 DIGEST: Ecuador Orders Banks to Adopt State Digital Currency, Playboy Writes About Bitcoin

The state of Ecuador has ordered financial institutions in the South America country to adopt the Official Electronic Currency, Playboy has published an article about Bitcoin and more top stories for June 1.

Ecuador orders banks to adopt the country’s official electronic currency

The Ecuadorian government has ordered all local financial institutions to adopt a state-sponsored digital currency. The nation’s central bank has given banks and other players 360 days from May 25 to include it in their products.

Through the electronic system, the South American state seeks to raise efficiency in payment systems and ultimately achieve economic stability in the country.

Economic Policy Minister Patricio River Yánez:

“All entities of the public, private, and cooperative financial sectors are obliged to incorporate themselves as micro-agents within the Electronic Currency System.”

PopChest announces bitcoin paywall for YouTube, other video websites

A Santa Monica-based Bitcoin startup, PopChest, has