The YEM (Your Everyday Money) was created in 2017 with the aim of creating an international digital currency that would incorporate all the available strengths of blockchain technology without adopting the weaknesses of other cryptocurrencies.
REQUIREMENTS FOR DIGITAL CURRENCIES
In 2014, the European Banking Authority (EBA) published a detailed 46-page study on the risks and opportunities of digital currencies (EBA/Op/2014/08), which explains 70 risks in detail.
The YEM should eliminate or at least minimize these risks.
THE STATUS QUO OF YEM
The YEM is one of the few "real" digital currencies that serves the sole purpose of providing money for payments and other financial transactions.
Actually, YEM strives to be 'Your Everyday Money'.
Therefore, YEM is regulated and represented by its own regulatory body, the YEM Foundation, which is accredited and recognized as an international
DIGITAL CURRENCIES AS A MEANS OF PAYMENT
In February 2018, the Federal Ministry of Finance (BMF) issued a circular (III C3 - S 7160-b/13/10001) to all tax authorities on the treatment of virtual currencies as a means of payment.
The BMF clarifies:
"Virtual currencies (...) are treated as legal tender to the extent that these so-called virtual currencies are accepted by the contracting parties as an alternative
legal tender, insofar as these so-called virtual currencies are accepted by the contracting parties as an alternative, contractual and direct means of payment and are not used for any other purpose than as a means of payment.
The YEM Foundation is the supervisory authority
Organization for the YEM and takes measures for the protection and stability of the YEM, comparable to the central bank of a fiat currency.
By fulfilling the requirements set out in the statutes of the United Nations (UN), the YEM Foundation has the status of an international non-governmental organization (INGO).
The Union of International Associations (UIA), which manages all active non-governmental organizations on behalf of the United Nations, has officially listed the YEM Foundation as an INGO.
YEM Foundation Update
The Yem Foundation will be relocated from the USA to Lichtenstein, 98% were in favor.
There are further steps that need to be implemented.
These include changing the reference currency, revaluing the YEM price and implementing the YEMChain.
Conclusion
As you can see, we have a lot of things in the works and we continue to work on them every day.
You will not be able to see much yourself at the moment, because the goal is
to maintain the existing content and functionality as much as possible. In the later stages, you will certainly see more improvements and new features being implemented.
The digital currency YEM WILL be introduced into the economic cycle IN THE VERY NEAR FUTURE.
Learn more about the website at https://yem.foundation/news.php
If you have any questions, please do not hesitate to contact us; our team will be happy to assist you.
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