Facebook Releases Cryptocurrency White Paper for Libra Currency

Social media giant Facebook has released the white paper for its long-awaited cryptocurrency and blockchain-based financial infrastructure project today, June 18. According to the paper, Facebook’s global stablecoin, dubbed “libra,” will operate on the native and scalable Libra blockchain, and be backed by a reserve of assets ostensibly “designed to give it intrinsic value” and mitigate volatility fluctuations. These assets consist…

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Santander Loses Appeal Against Brazilian Crypto Exchange, Fine Upheld

Major Spanish bank Santander has been denied an appeal regarding a decision by the Court of Justice of the State of São Paulo in a case against crypto exchange Mercado Bitcoin, Cointelegraph Brazil reports on June 17. Santander was sued by the Brazilian exchange Mercado Bitcoin in 2018, after the bank purportedly closed the exchange’s account at its sole discretion. The bank, which has branches in Latin…

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Georgian Gov’t, IOHK Partner to Develop Blockchain in Education, Ministry Services

The government of Georgia has signed a memorandum of understanding (MoU) with blockchain technology firm Input Output Hong Kong (IOHK) to implement blockchain-enabled projects across business, education and government services. The news was revealed in a press release shared with Cointelegraph on June 17. The MoU has been signed between the Georgian Ministry of Education and Science and IOHK,…

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Report: Record-Breaking Coincheck Hack Perpetrated by Virus Tied to Russian Hackers

The personal computers of employees at hacked Japanese crypto exchange Coincheck have allegedly been found to have been infected by a virus associated with a hacker group of Russian origin. The allegation was reported by Cointelegraph Japan on June 16. As Cointelegraph has reported, in January 2018, Coincheck suffered an industry record-breaking hack when $534 million worth of NEM was stolen from its wallets. Cointelegraph Japan cites a report…

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5 South Korean Crypto Exchanges Take On New Responsibility for User Losses

Five cryptocurrency exchanges in South Korea have increased their liability to users in line with demands from regulators. Local English-language news outlet The Korea Herald reported the news on June 17, citing Yonhap News Agency. A year after the Fair Trade Commission requested Bithumb and four other platforms to adapt their policy, the companies will now hold themselves accountable in the event of…

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Facebook Hires Standard Chartered Bank’s Head of Public Affairs for Crypto Project

Facebook has reportedly hired Standard Chartered Bank’s head of public affairs Ed Bowles for its cryptocurrency project, the Financial Times reports on June 14. Per the report, Facebook hired the senior bank lobbyist in anticipation of the greater regulatory scrutiny in Europe over its plans to launch its own crypto asset and other financial services to its 2.4 billion users. Bowles will join the…

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Eos Developer Block.one Working With Lobbying Firm on Blockchain Issues

Eos (EOS) parent company Block.one has disclosed that it is a client of a lobbying firm in a disclosure form registered in May. In the document, Block.one is cited as the client of international law firm Holland & Knight LLP, whose offices globally work on over 200 different practice areas including regulatory and government affairs, blockchain technology and e-commerce. In the…

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Circle to Close Its Payment App, Focus on New Financial Products

Peer-to-peer payments technology firm Circle is closing its payment app Circle Pay in order to develop new crypto financial services, according to an announcement published on June 13. Per the blog post, Circle will start terminating the operation of Circle Pay, a fiat money sending service with a social messaging component, from July 8, 2019, and will fully close support for the app…

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Binance to Stop Serving US Traders Following Announcement of US-Dedicated Platform

Major crypto exchange Binance announced on June 14, that it has updated its terms of use, which notably includes a restriction of services to United States-based individual and corporate traders. The restriction follows yesterday’s news that the company is launching a separate, fully regulated fiat-to-crypto platform for the U.S. market. Today’s announcement provides a timeline for the new terms to come into effect, specifying that:…

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