On Monday, The Bank for International Settlements hosted a meeting in Basel, Switzerland to discuss the issue of stablecoins like those proposed by Facebook and J.P. Morgan. After the meeting, Calibra CEO David Marcus took to Twitter to try to allay any concerns policymakers might have about Libra’s potential for threatening the monetary sovereignty of the modern nation-state.
On Friday, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced new sanctions against three North Korean cyber groups believed to be responsible for cyber-attacks on financial institutions, cryptocurrency exchanges, and other critical infrastructure.
French Finance Minister Bruno Le Maire warned that his country wants to prevent Facebook Libra development in the European Union due to concerns about its risk to national governments’ ‘monetary sovereignty’ and potential abuse, the BBC reports. Le Maire made the comments during a Paris meeting of the Organization for Economic Co-operation and Development.
The People’s Bank of China (PBOC) has suggested that its plans to launch its own digital currency are primarily motivated by a desire to protect its foreign exchange sovereignty. However, Circle CEO Jeremy Allaire believes that the move could also help promote broader use of China’s currency around the world.
The Marshall Islands is moving forward with its plans to develop a blockchain-based national digital currency that the government hopes will reduce reliance on the U.S. dollar, Bloomberg reported on Wednesday. When launched, the Marshallese sovereign (SOV) is expected to be recognized as the island nation’s legal tender.
Blockstack has announced that its SEC-approved token offering closed on September 9, after raising a total of $23 million. Blockstack co-founder and CEO Muneeb Ali announced the news in a recent blog post that thanked the thousands of investors who participated in the sale:
If Facebook’s Libra project expects to operate within the United States, it will need to do so in full compliance with U.S. anti-money laundering and counter-terror financing regulations, according to U.S. Under Secretary of Terrorism and Financial Intelligence Sigal Mandelker.
Tether today announced the launch of its CNHT cryptocurrency, a stablecoin that will be pegged to the offshore Chinese yuan (CNH). The launch was confirmed in an announcement posted on the company’s website on Monday.
Binance has outlined its plan for the launch of Binance.US, including the steps customers will need to take to register. In a recent post on Medium, Binance detailed the know-your-customer requirements customers must meet and confirmed that the service will be available in the United States in the “coming weeks.”
Twitter founder and longtime Bitcoin backer Jack Dorsey recently confirmed that he is still a Bitcoin believer, while noting that his company has no plans to create its own cryptocurrency. That’s according to comments he made to the Sydney Morning Herald during a recent Square promotion trip to Australia.
The Bank of the Republic of Burundi has banned cryptocurrency trading in the country, according to a recent Bloomberg report. The central bank’s decision was in response to public requests to intervene from citizens who suffered losses from digital currency trading.
South Korean music firm SM Entertainment has reportedly partnered with technology firm CT-AI Labs to develop a blockchain platform to serve as a “bridgehead between the virtual world and the real world,” ITChosun reports. CT-AI Lab CEO Joo Sang Sik announced the plans during the UPBIT Developer Conference.
London-based blockchain analytics company Elliptic has reportedly raised $23 million in funding, CNBC reports. On Wednesday, the company announced that it would use the funds to further expand into the Asian market and add support for new digital currencies like the Line Corporation’s Link, Facebook’s Libra, and central bank digital currencies.
The Netherlands central bank, De Nederlandsche Bank, announced Tuesday that it will start regulating cryptocurrency services on January 10, 2020, Reuters reports. According to the central bank’s statement announcing the news, digital asset companies in the Netherlands will need to register to do business in the country:
CHICAGO, Illinois – September 1, 2019 – HERo today announced the launch of the HERo membership platform, designed to empower female professionals, business owners, women’s groups, and others. The membership program will officially launch in September and will be open to male and female business professionals who want to expand their reach and further their careers.
State-owned Chinese telecommunications company China Telecom is reportedly planning to develop blockchain-enabled 5G smartphone SIM cards, Sina News reported this week. The plans were apparently confirmed in a white paper released by the China Telecom Blockchain and Digital Economy Joint Lab at the 2019 China International Intelligent Industry Expo.
The U.S. Securities and Exchange Commission announced this week that it has reached a settlement with Dallas-based cryptocurrency firm Bitqyck Inc. In a press release, the SEC said that the company and its founders has defrauded investors who purchased its digital assets. The defendants were also accused of operating an unregistered exchange.
Binance co-founder He Yi has confirmed that his exchange plans to engage with regulators to obtain regulatory buy-in, to avoid the type of regulatory pushback Facebook has received since announcing its Project Libra plans, Bloomberg reports. According to her, Binance plans to focus on compliance prior to launching in any country.
The Portuguese Tax and Customs Authority has confirmed that cryptocurrency users are not subject to the Value Added Tax (VAT) when trading digital assets or using them for payments, according to a report from Jornal de Negócios. In addition, the agency indicated that cryptocurrency use is also free from income tax obligations.
Social messaging app company Telegram plans to launch its new Gram digital currency by the end of October, the New York Times reported on August 27. The firm has reportedly told investors that the first coins will be issued sometime in the next two months. That’s according to three investors who spoke with the Times anonymously, due to nondisclosure agreements.