Many cryptocurrency analysts and industry representatives are predicting that the increasing integration of blockchain payments with messenger apps will comprise the catalyst for the next wave of mainstream distributed ledger technology (DLT) adoption. However, critics are warning that the blockchain payments integrated with messenger apps may undermine many of the core values underpinning cryptocurrency. They predict that the majority of individuals’ economic activities may occur with centralized mediation from a handful of large companies. In turn, they may be able to profit from the mass of financial data that will be yielded through the mass adoption of DLT payments integrated …

Cryptocurrency exchange Binance has said that it will learn from the regulatory issues that have plagued Facebook’s proposed Libra digital currency. In an interview, Aug 29, Binance co-founder He Yi claimed that the company will engage with regulators from day one regarding its Venus stablecoin project. He also confirmed previous rumors that Venus will be primarily geared towards non-Western countries. Learning from the mistakes of others Since Facebook announced its Libra stablecoin project back in June, it has faced tough scrutiny from regulatory bodies worldwide. Binance says that it will handle regulators better, by focusing on compliance from the start. …

The United Kingdom’s Advertising Standards Authority (ASA) recently resolved a complaint regarding advertising of Bitcoin (BTC) from the BitMEX crypto derivatives exchange. According to the ASA, the website showed Bitcoin graphs with misleading price dynamics since January 2019. The ASA received four complaints, each accusing the platform of being misleading about Bitcoin investment profitability. The court satisfied the complaints. However, this was not the first time that a state took a tough attitude toward advertisement of cryptocurrencies. Here is an overview of how cryptocurrencies are advertised — or not — in the world right now. Ban, no freedom The first …

When we hear about holders of crypto being tracked down by the Internal Revenue Service, or that imprisonment is being considered for anyone using crypto in India, it conjures up a disconcerting image of what regulation might entail. It’s part of crypto’s DNA to be unregulated, some might say. It falls outside the scope of government and should remain so for all the reasons it was created in the first place. But if crypto is the future and there are valid concerns, then surely these should be addressed. If we want crypto to be accepted and become part of our …

Encrypted messaging app Telegram will launch its Gram digital currency in October, investors have told mainstream media. Telegram tokens due in two months As The New York Times reported on Aug. 27, three anonymous investors in Telegram’s $1.7 billion private initial coin offering (ICO) said the company had confirmed it would issue the first tokens in two months’ time. Additionally, one Telegram Open Network (TON) investor in contact with Telegram’s team revealed that the company plans to begin publicly testing the platform starting Sept. 1. The long-term goal for executives is to make Gram available to all of Telegram’s roughly …

Switzerland’s central bank, Swiss National Bank (SNB) is in close contact with the relevant authorities over Facebook’s Geneva-based crypto project Libra. The news comes from SNB vice-chairman Fritz Zurbruegg via a Reuters report from Aug. 27. Libra documentation still lack some details Zurbruegg said that it is still difficult to analyze the Libra project fully, citing the vague character of available documentation. He added that some details are still missing in the documents. The news follows a visit by United States lawmakers to Switzerland this month in order to clarify how various Swiss authorities would regulate Libra, as well as …

The Libra Association has opened its bug bounty program to the public to address security concerns in advance of Libra’s anticipated 2020 launch. Expanding the playing field The announcement comes via a post on Libra’s website on Aug. 27. The post emphasized that the expansion of the program would promote values critical to the Libra Association like “openness, transparency, and global access,” and ensure minimal issues come launch date. The association wrote that it expects opening the bug bounty program up to the public will encourage “many more people with diverse skills and backgrounds” to test the security of Libra’s …

Facebook has hired a Washington-based lobbying firm to help it grapple with the negative response to its planned Libra cryptocurrency. According to an O’Dwyer PR report published on Aug. 26, the social media giant is working with FS Vector — a consultancy firm that specializes in regulatory compliance, public policy, and business strategy for the fintech, cryptocurrency, blockchain and financial services sectors. The FS Vector Facebook account Facebook’s lobbying registration documents, filed with the United States Congress, reportedly reveal that the firm is retaining FS Vector for support on “issues related to blockchain policy.” Leading the Facebook account is FS …

New Zealand radio personality Duncan Garner, who hosts The AM Show on MagicTalkRadio, has denied promoting Bitcoin (BTC) on Facebook. I don’t do any of that ‘Coin’ Local news daily NewsHub provided a video of Garner denying his involvement in the Facebook promotions on Aug. 26. Following an interview about a recent privacy breach in the government of New Zealand, Garner said: “That is not me on Facebook pumping up Bitcoin [...] I don’t do Bitcoin, I don’t do any of that ‘coin,’ I haven’t been on Facebook for a couple of years. It’s not me. But people say, ‘Hey, …

Following a visit to Switzerland to meet with the country’s financial regulators, United States lawmakers are still concerned over Facebook’s proposed cryptocurrency project, Libra. Meetings with multiple agencies According to an official statement from Representative Maxine Waters published on Aug. 25, members of the U.S. House of Representatives Financial Services Committee met with multiple regulatory agencies and lawmakers. These included the State Secretariat for International Financial Matters, the Federal Data Protection and Information Commissioner, and the Financial Market Supervisory Authority. As announced earlier this month, the representatives aimed to clarify how various Swiss authorities would regulate Libra and learn more …

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Binance reveals “Venus” — its own project to rival Facebook’s Libra With Facebook tangled up in regulatory tape and putting Libra on ice, others are seizing the chance to leapfrog the social network and launch their own stablecoins. Walmart’s at it, the People’s Bank of China’s at it, and Binance is now throwing its hat …

United States Rep. Maxine Waters, chair of the United States House of Representatives’ Financial Services Committee, says the committee will continue to review Facebook’s proposed cryptocurrency Libra and the corresponding digital wallet Calibra. A priority for autumn 2019 Waters announced the committee’s priorities for fall 2019 on Aug. 23. According to the statement, the committee plans to receive the testimony and opinions from governmental officials and regulators. Specifically, Waters lists Treasury Secretary Steven Mnuchin, Consumer Financial Protection Bureau Director Kathy Kraninger, Federal Housing Finance Agency Director Mark Calabria, and Federal Reserve Vice Chairman Randal Quarles. Waters remains cautious on Libra …