(as posted on the YEM Foundation website)
Dear YEM Holders,
On September 1, 2022, the Sovereign Order Bene Merenti (SOBM) and the YEM Foundation, as the non-governmental regulatory body for the digital currency YEM (Your Everyday Money), announced the establishment of the "Bank Bene Merenti" (BBM) for the purpose of integrating YEM as an official means of payment.
In the following months, it then became apparent that significantly higher requirements had to be met for the integration of BBM into the international financial system than previously expected by the experts consulted.
In addition, both partners faced a massive fake news campaign, against which legal action was taken, but which nevertheless had and continues to have a significant impact on the reputation of both partners.
Due to this new situation, both partners have decided to indefinitely suspend both the establishment of BBM and the integration of YEM.
The YEM Foundation is already in contact with other sovereign entities regarding the establishment of YEM as an official means of payment.
Kind regards
YEM Foundation BID
