“According to a report by Bloomberg on Sept. 9, Facebook told United States senators about the backing reserves for the stablecoin.
Libra will reportedly be backed by several national currencies. These include the U.S. dollar, euro, Japanese yen, British pound and Singapore dollar. However, the Chinese yuan may be excluded from the group of reserve assets.
Facebook stated [however] that any final determination regarding the backing currencies is the purview of the Libra Association.”
“The new token, known as CNH₮, is collateralized with yuan stored offshore. It remains unclear where Tether will store the yuan backing the stablecoin, though Dong told CoinDesk last month that the reserves will be stored in a bank in Belgium.
CNH represents a further expansion of Tether’s capabilities in facilitating the digital use of traditional currencies, such as US dollar (USDT) and euro (EURT).”
“SEC Chairman Jay Clayton said “progress is being made” in the crypto space to allow a bitcoin ETF to launch, though concerns linger.
An even harder question given that they trade on largely unregulated exchanges is how can we be sure that those prices aren’t subject to significant manipulation? … People needed to answer these hard questions for us to be comfortable that this was the appropriate kind of product.
Clayton’s remarks come just weeks before the SEC is expected to approve or reject a pair of bitcoin ETF proposals.”
“The government of Catalonia has announced it will develop a decentralized identity platform aimed to give citizens control of their own data when interacting with online services.
The ‘IdentiCAT’ will be the first digital identity at European level, which will be driven by the public sphere and managed by citizens themselves.
As an example, a user may use the ID system to verify they are of legal age without having to provide either the date or the place of birth.”
“An industry insider said LG had already held discussions with local decentralized application (DApp) developers and had worked out a use case for its future product.
It remains unknown whether LG’s future offering will become internationally available. An industry insider said LG had already held discussions with local decentralized application (DApp) developers and had worked out a use case for its future product.”
“News of the insurance policy covering client deposits removes yet another concern for the institutional investors that Bakkt hopes to attract.”
“Over the next 20 months, Keybase users can expect monthly airdrops of 100 million XLM.
All you have to do is have an authenticated Keybase account, and your XLM will appear in your wallet – automatically, every month, for as long as the airdrop continues.
The airdrop partnership comes as other messaging apps ramp up their own cryptocurrency efforts.”