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Due to Regulatory Pushback, Some Early Libra Backers Consider Withdrawing Support for Project
According to a report in the Financial Times, at least three early Facebook Libra backers are looking at options to distance themselves from the project. The three backers are reportedly concerned about the increasing scrutiny and resistance to the proposed digital currency payment system from regulators and legislators around the globe.
Report: Tether to Introduce Stablecoin CNHT, Pegged to Chinese Yuan
Tether has plans to introduce a new stablecoin that would be pegged to the value of China’s yuan currency, according to an article published by Chinese media outlet Chain News. The plans for the ‘CNHT’ stablecoin were reportedly confirmed by Bitfinex shareholder Zhao Dong, who suggested that his RenrenBit digital asset management platform will be among the first to back the new venture.
Israeli Capital Markets Authority to Expedite Licenses for Fintech Firms
Israel’s Capital Market, Insurance and Savings Authority wants to expedite the licensing process for blockchain and other fintech firms, according to a report from Israeli business outlet Calcalist. The Authority reportedly hopes to facilitate greater competitiveness and innovation in the sector.
Binance Announces Plans for ‘Venus’ Open Blockchain Project
Cryptocurrency exchange Binance has announced plans to launch an open blockchain project called Venus to facilitate the development of “localized stablecoins” around the world. The exchange said that it hopes to partner with governments, tech companies, and other cryptocurrency businesses to help empower nations to create new currencies.
Report: Mastercard is Building Cryptocurrency Team
Credit card giant Mastercard is apparently building an in-house cryptocurrency team, according to a recent report from the New York Post. The company is actively recruiting job candidates who are familiar with cryptocurrency technology. The Post provided details of the job listing in its August 17 report:
Korean Exchange CoinOne Announces Listing Criteria
South Korea-based cryptocurrency exchange CoinOne recently published a blog post revealing its criteria for new cryptocurrency projects seeking to get listed on the exchange. In that post, CoinOne identified nine specific criteria it uses to judge any project’s suitability for being listed as well as several criteria the company uses when considering a delisting.
Bakkt Set to Launch Futures on September 23
Bakkt announced today that it plans to launch its custody services and bitcoin futures products on September 23. In a blog post announcing the news, the company confirmed that the New York State Department of Financial Services has approved its New York trust charter, paving the way for Bakkt to launch its products.
Moscow to Develop Blockchain Platform for Administrative Services
The Moscow Department of Information Technologies (DIT) reportedly plans to develop a blockchain platform that will be used to host the electronic services City Hall provides to citizens in the capital, Open Media reported on August 15. Officials have published an open tender to procure a contractor to develop the system, with an initial contract estimate of 56.97 million rubles.
Report: Barclays Has Stopped Providing Banking Services to Coinbase
British banking institution Barclays has stopped providing bank services to U.S.-based digital currency exchange Coinbase, according to Reuters, which cited “sources familiar with the matter.” Other recent reports suggest that Coinbase has secured a banking partnership with UK-based ClearBank.
SEC Delays Bitcoin ETF Decision Until October
The United States Securities and Exchange Commission has announced that it has delayed its decision on rule changes that could permit the Bitwise Bitcoin ETF Trust and VanEck SolidX Bitcoin Trust to begin trading. With the delay, the SEC won’t make a decision about the two funds until October at the earliest, Bloomberg reports.
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