Please share if you find this article interesting. Will Facebook’s Libra Be an On-Ramp or Dead End for Crypto? Facebook’s announcement that it would create a stablecoin on a blockchain means more as a competitive answer to WeChat and Alipay’s payment services than it does to the crypto industry, according to AngelList co-founder Naval Ravikant. Ravikant told CoinDesk via email: “I don’t think it means much for crypto because it’s not really (sovereign-resistant) crypto.” The immediate question for the crypto industry following the announcement of Facebook’s ambitious Libra project was whether this new token will lead more users into the broader world of cryptocurrency or insulate them from other projects. That is, will someone who becomes a Libra user be more likely to one day
Please share if you find this article interesting. CME: Open Interest in Bitcoin Futures Contracts Hit All-Time High The Chicago Mercantile Exchange (CME) Group has released data showing that open interest in Bitcoin futures is rising, as per an official Twitter post on June 18. Interest in BTC futures over time: https://twitter.com/CMEGroup/status/1141015074062110721 According to CME, bitcoin (BTC) open interest spiked on June 17 with an all-time high of 5,311 contracts totalling 26,555 BTC, or approximately $246 million at press time. Futures are standardized contracts that bind a party to buying or selling some asset at a predetermined date. Notably, the CME group also remarked in the Twitter post that BTC futures appears to be gaining popularity with institutional investors....
Please share if you find this article interesting. Malaysia Launches Work Visa Program for Blockchain Tech Professionals Malaysia has launched a work visa program targeting tech freelancers that addresses a demand for blockchain capable talens, local news outlet the Star reported on June 18. The Malaysia Digital Economy Corporation (MDEC) — a government-owned organization that oversees the tech sector — blockchain organization Nem Foundation and job marketplace Jobbatical have jointly launched the program. The program aims to attract foreign professionals who will have the right to stay in the country for up to 12 months to provide blockchain-related services or undergo training at a Malaysian company. MDEC growth ecosystem development vice-president Norhizam Abdul Kadir said, "W
Please share if you find this article interesting. Brazil Requires Crypto Exchanges to Report on User Transactions to Authorities The Department of Federal Revenue of Brazil (RFB) has released new rules requiring that cryptocurrency exchanges inform the regulator about users' transactions in order to identify tax fraud, Cointelegraph Brazil reported on June 19. The guidelines clarify how cryptocurrency trading platforms in Brazil should adopt new rules to report about the movements of users' crypto funds to the agency, and comply with the requirements of Normative Instruction 1.888/2019 published in May of this year. Specifically, the agency requires that cryptocurrency exchanges operators based in Brazil provide information about all transactions carried out within their system,...
Please share if you find this article interesting. Consumer Affairs Report Shows 70% Spike in Japanese Crypto Inquiries - Bitcoin News Japan’s Consumer Affairs Agency (CAA) has released its 2019 report and noted a significant spike in inquiries concerning cryptocurrency related issues last year. The report details a 70% increase in 2018 in regard to consumer queries largely stemming from exchange issues. Moreover, over the last two quarters of 2019, the Japanese yen paired with various cryptocurrencies like BCH and BTC has been climbing steadily, showing the country has a lot of demand for digital assets. Also read: Policymakers Meet to Finalize Global Crypto Guidance – A Look at Standards G20 Supports CAA Report: Crypto-Related Inquiries Spike by 70% in 2018 Over the last few
Please share if you find this article interesting. Ethereum 2.0’s Phase Zero Scheduled to Launch on January 3, 2020: Devs The first stage of the Ethereum network’s transition to Ethereum 2.0 is expected to take place on January 3, 2020, as said in a bi-weekly call of Ethereum core developers on June 13. During the call, Ethereum researcher Justin Drake said that the dev team is working on code specifications for phase zero, confirming that codes are still expected to be released on June 30. Phase zero is the name of the first transition stage of the Ethereum network from a proof-of-work to a proof-of-stake consensus algorithm, which would pass block validation function from miners to special network validators. As mentioned by Drake in the recent call, phase zero is expected laun
Please share if you find this article interesting. BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA: Price Analysis 19/06 The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. Facebook released the white paper for its cryptocurrency project on June 18. The researchers at Binance research opine that Facebook’s Libra can boost cryptocurrency volume “due to increased accessibility from both institutional players and everyday retail users.” While the researchers have pointed to the huge potential of Libra, they have raised concern that regulators and finan
Please share if you find this article interesting. Senate Banking Committee Sets Hearing on Facebook’s Crypto for July 16 The Banking Committee of the United States Senate will hear testimony on Facebook’s Libra cryptocurrency project on July 16, economic news site MarketWatch reports on June 19. The social media giant released the white paper for its Libra token yesterday. The stablecoin, will operate on a native eponymous blockchain, and will be backed by a basket of reserve assets “designed to give it intrinsic value” and mitigate volatility fluctuations. Following the release of the project, U.S. regulators expressed their concern about the project’s possible effects on financial stability. Rep. Maxine Waters, chairwoman of the United States House of Representatives’ Finan
Please share if you find this article interesting. Facebook Talked to the Fed About Libra, Chairman Powell Says Jerome Powell, chairman of the U.S. Federal Reserve, said Wednesday that social media giant Facebook met with the central bank in the run-up to the reveal of its Libra cryptocurrency. Speaking during a press conference that followed a two-day Fed policy meeting, Powell was asked if he or the Fed had any concerns about Libra affecting the central bank’s ability to conduct monetary policy, as well as if Facebook met with Fed officials. “You know Facebook, I believe, has made quite broad rounds around the world with regulators, supervisors and lots of people to discuss their plans and that certainly includes us,” he said. As for potential effects on monetary policymaking,
Please share if you find this article interesting. Phillipine Government Tech Department Signs Deal With Blockchain Firm The Department of Information and Communications Technology (DICT) of the Philippine government has signed a Memorandum of Agreement (MoA) with U.S.-based blockchain firm Monsoon Blockchain Storage, according to a report by GMA News Online on June 19. The MoA reportedly stipulates that Monsoon is to act as a blockchain consultant and advisor to DICT, offering services such as cost-benefit and socio-economic analyses regarding blockchain solutions in the Philippines. DICT Acting Secretary Eliseo Rio Jr. commented on how the MoA will benefit the Philippines, saying it will “directly benefit our continuous effort to address the country’s issues on ease of doing bu