“The draft in question — which is still subject to amendments — urges member states to develop a common approach to cryptocurrencies, possibly banning high-risk projects. Reuters suggests that such a law could escalate into an EU regulatory campaign against cryptocurrencies.
The draft prepared by the Finnish EU presidency also suggests that the European Central Bank should consider issuing its own digital currency.”
See Also: US Federal Reserve Hiring Retail Payments Manager to Research Digital Currencies
See Also: Joe Lubin: China Will Avoid Blockchain’s ‘Decentralizing Aspects’
See Also: President Erdogan: Turkey to Finish Testing Digital Lira in 2020
“Coinbase’s legal chief argued private corporations are best positioned to build a much-debated digital U.S. dollar, and that the government should stand back and let them, doing little, if anything, to regulate their underlying blockchains.
There is no more need for the government to control the blockchain policy of stablecoin issuers than there is for the government to dictate the technology used by privately-owned commercial and investment banks.
If the Fed-controlled dollar backs the private sector minted stablecoin, then, he pointed out, the fed still controls the stablecoin’s underlying monetary policy.
In short: the private sector should build the technology, and the public sector should set monetary policy.”
See Also: Libra Won’t Spread as Quickly as Facebook, Says Calibra Exec
See Also: Int’l Regulator: Stablecoin ‘Structure’ Determines If It’s a Security
Yeah, this is not centralized at all. /s/
“The Stellar Development Foundation has burned 55 billion of its XLM tokens, over half the cryptocurrency’s supply.
As much as we wanted to use the lumens that we held, it was very hard to get them into the market. SDF will not burn any additional lumens.
The foundation now controls 30 billion XLM, with [an additional] 20 billion in circulation.” (meaning the foundation continues to control 60% of total supply.)
“Ethereum developers are using the Lightning payments network to build bridges into the bitcoin ecosystem. Radar, best known for its decentralized exchange (DEX) relayers for 0x, just launched a service called RedShift, which allows people to pay a lightning invoice from an ethereum wallet.
Our number one request from [DEX] users and market makers was somehow adding the ability to trade bitcoin.
[Likewise], the Cross-Chain Working Group is already building a system for wrapped bitcoin tokens that can be used on the ethereum blockchain.”
“In a new legal filing made public late on Monday, Sostack claimed Ripple’s monthly sale of XRP out of escrow constitutes on-going securities sales. Ripple must respond to the new filing by Dec. 4, with oral arguments expected to commence Jan. 15.”
“I cannot believe how crazy trading BTCUSD on the short term is right now. The gap on the CME has filled already. It’s thinly traded yes. But man, I’m highly suspicious of the price action across all the exchanges of late, more so than usual.”
“The British Columbia Securities Commission (BCSC) announced Monday that it had filed to take control of Einstein Exchange after the platform said on Oct. 31 that it planned to shut down its operations within the next 60 to 90 days. Einstein owes its customers $12.4 million.”
“Coke One North America (CONA) — the tech firm that manages IT operations for the soda giant’s bottlers — is using a blockchain solution developed by German software firm SAP to manage its supply chain.
With blockchain, CONA expects to reduce the duration of order-reconciliation from 50 days to just a few days. An inter-organizational, transparent distributed ledger will give real-time insights into the transactions made by all the different bottlers on the network, which generates over $21 billion in revenue per year.”
See Also: Global Blockchain B2B Volume Expected to Hit $4.4 Trillion by 2024
“Tradewind is taking its shot at stopping counterfeit gold seals and helping precious metals investors find metals that are produced responsibly. Designed with the Royal Canadian Mint and built on R3’s Corda Enterprise platform, Tradewind Origins tracks the geography and name of the mine as well as under what standards the metal was produced.
You have corporations and jewelers that want to reduce reputational risk and their customers are interested in knowing that what they’re buying was produced responsibility in accordance with ESG principals.”
“The blockchain-based identification system will assign a unique, global digital ID to Chinese smart cities, aiming to improve the connectivity and data sharing between these cities. Smart cities across China have been able to apply for their own city identification code since Sunday.”