[Facebook unveils Libra cryptocurrency and Libra Association]Facebook has unveiled its Libra cryptocurrency which is governed by Libra Association, an independent consortium of 28 founding members includes Visa, Mastercard, Paypal, Uber, Lyft, Coinbase and others. Facebook claims the Libra cryptocurrency is built on a secure, scalable and reliable blockchain, backed by a reserve of real assets. According to the white paper, Libra's mission is to enable a simple global currency and financial infrastructure that empowers billions of people.
[Policymakers meet to finalize global crypto guidance]The Financial Action Task Force(FATF) started its plenary week on June 16 to discuss global cryptocurrency regulations in Orlando, Florida, according to the post on its website. Representatives come from the FATF Global Network, the IMF, UN, World Bank and others. FATF elaborated:"During six days of meetings, they will discuss a range of important issues, focused on protecting the integrity of the financial system and contributing to global safety and security. This includes further progress in the regulation of virtual assets, with strong support from the G20."
[Binance is launching Bitcoin-pegged token on Binance Chain]Binance is launching Bitcoin-pegged token(BTCB) on Binance Chain, according to an announcement on its website on June 17. BTCB is purportedly 100% backed by BTC in reserve. The token will be traded on Binance and proposed for trading on Binance DEX. Binance also revealed in the post that a number of crypto-pegged tokens will be issued on Binance Chain in the coming days.
[Russia's central bank is thinking about launching a digital currency]Elvira Nabiullina, head of Russia's central bank, said the institution could launch its own digital currency one day, local news outlet TASS reported on June 15. She noted that various central banks are investigating the possibility and technology must ensure "reliability and continuity" to bring about the use of a central bank digital currency.
[Ripple to invest up to $50 million in MoneyGram]Blockchain payments firm Ripple has agreed to enter into a strategic partnership with money transmission giant MoneyGram, according to a press release from Ripple on June 17. As part of the agreement, MoneyGram will be able to draw up to $50 million dollars from Ripple in exchange for equity. Also, MoneyGram will utilize XRP's xRapid product as part of its operation.
[South Korean Crypto Exchanges change terms to increase liability]Five South Korean cryptocurrency exchanges have changed their terms of service to increase liability for cyberattacks or service issues, local news outlet The Korea Herald reported on June 17. Fair Trade Commission revealed that Bithumb and four other platforms made changes after receiving the corrective recommendation from FTC in April last year.
[South American e-commerce platform working with Facebook on Libra crypto project]South American e-commerce platform Mercado Libre is working with Facebook on Libra cyptocurrency project, Cointelegraph Brazil reported on June 14. A Mercado Libre executive stated that the cryptocurrency will be integrated into the platform as a form of payment.
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[Bitmain demands millions from three former employees]Cryptocurrency mining giant Bitmain is suing three former emplyees who are co-founders of Poolin, the seventh largest pool, for violating a non-compete agreement. The three Poolin co-founders say Bitmain invalidated the contracts for failing to pay them on time as agreed.
[Facebook to launch Libra testnet this week]Social media giant Facebook and many of its partners will unveil the Libra Association and launch Libra testnet this week, news outlet The Block reported on June 14. The Libra Blockchain will be open source under an Apache 2.0 license and be backed by Libra Reserve, which is a store of real assets to grant the token with "stability, low inflation, global acceptance, and fungibility".
[CryptoCompare offers rankings for cryptocurrency exchanges]Cryptocurrency market data provider CryptoCompare has launched a benchmark ranking for cryptocurrency exchanges from the globe. The benchmark was launched to meet the need for reliable metrics to evaluate cryptocurrency exchanges. Based on data for the period May 1-31, the most trusted three exchanges are Coinbase, Poloniex and Bitstamp in descending order.
[Coinbase Visa debit card launches in six European countries]Cryptocurrency exchange Coinbase has launched its Visa debit card in six European countries, CNBC reported on June 11. Cardholders in Spain, Germany, France, Italy, Ireland and the Netherlands can spend cryptocurrencies like bitcoin both in stores and online at any merchant that accepts Visa.
[Canadian university offers students tech training in blockchain]Canadian-based University of British Columbia(UBC) is launching blockchain and distributed ledger technology training path for master's and PhD students, UBC annouced in a press release on June 11. The training path will focus on four primary sectors: health and wellness, clean energy, regulatory technology and indigenous issues.
[Pan-African insurer Old Mutual has opted out of insuring crypto mining equipment]Pan-African insurance company Old Mutual will not insure cryptocurrency mining equipment due to the unregulated nature of the industry, local news outlet ITWeb reported on June 10. With extensive research and in-depth review of claims from clients that have incurred losses to cryptocurrency mining equipment, Old Mutual said it has begun advising its branches not to insure any businesses in this industry.
[Philippines Central Bank warns over the risk of the growing use of cryptocurrencies]Benjamin Diokno, the chief of the Philippines central bank(BSP), has warned on the risks of increasing cryptocurrency use in the country, local news site Philstar reported on June 10. He also said that he is not fully convinced about the use of cryptocurrencies because of its possible use in terrorism financing. Diwa Guinigundo, the deputy governor of BSP, said that BSP deals with these new forms of technology based on regulatory sandboxes in order to allow the regulator to balance technology innovation with robust solution and consumer protection.
[BHEX has launched BitcoinHD (BHD) co-mining campaign]BHEX has opened BHD/USDT trading and launched BHD co-mining campaign at 4pm 11 June 2019 (UTC+8). Participants will reward 31% annualise guaranteed return. Order period: 11 June - 14 June 2019. BHD is a new cryptocurrency based on the CPoC (Conditioned Proof of Capacity) mechanism. By using the hard disk as a consensus participant, it can significantly lower energy consumption and entry barrier, making the mining of cryptocurrency safer, more decentralized and for everyone.
[Top crypto news site CCN shuts down after major Google search update]Cryptocurrency news site CCN.com is shutting down, according to an announcement on its website. Jonas Borchgrevink, director and founder of CCN Markets, writes in the post that the reason of the closure is a nearly 71% drop off in traffic from Google searches after the June 3 Google Core Update. He also notes that in addition to crypto sites, British tabloid The Daily Mail has seen a large drop in visibility as well.
[US retailor Target is creating an open source blockchain project for supply chain]Retail giant Target has been working on a blockchain-backed project for supply chain management, according to an official post from the VP of architecture at Target on April 22. The work on a certification blockchain was recently open sourced as ConsenSource. The post also mentions that distributed ledgers will bring a new form of transactional ability and data storage to corporate enterprises.
[Polish cryptocurrency exchange shuts down, disappearing with funds]Polish cryptocurrency exchange Coinroom has shut down overnight and taken customer funds, local news site money.pl reported on May 31. Users received emails from Coinroom authority in April to withdraw their money in one day and those who did not follow the proper procedure lost their assets. On the website of coinmarketcap, Coinroom has terminated its activities.The exchange's Twitter page has also seemingly been deleted.
[Global Regulators were asked to monitor risks around crypto-assets]Financial Stability Board(FSB) and global standard-setting organizations have been asked by G20 finance minsters and central bank governors to monitor risks and consider additional multilateral responses to crypto-assets on June 9(UTC+9). The request was made in Communiqué published on the official website of Japan's Ministry of Finance, following G20 meeting held in Fukuoka, Japan.
[Bittrex set to block US residents from 32 crypto assets]Cryptocurrency exchange Bittrex announced in a blog post last Friday that it is set to wall off over 30 cryptocurrencies from its American traders. QTUM, STORJ, ENG, MFT and FCT are among the coins being walled off. Trading of the soon-to-be banned coins will cease on June 21. Customers have the option to store their coins on a Bittrex wallet after that date.