Thirty different blockchain companies and nonprofit organizations plan to fork the Libra crypto project to build their own permissionless version, dubbed OpenLibra. OpenLibra will function as a stablecoin pegged to the actual Libra cryptocurrency.
In a letter filed to the New York State Supreme Court Tuesday, attorneys for Bitfinex, Tether and other affiliated entities wrote that a request made by the NYAG’s office relating to a $900 billion loan between sister companies Bitfinex and Tether should be denied.
The Swiss Centre will examine the integration of digital central bank money into a DLT infrastructure. This new form of digital central bank money would be aimed at facilitating the settlement of tokenised assets between financial institutions. The project will be carried out as part of a collaboration between the SNB and the SIX Group in the form of a proof of concept.
The US federal tax service’s Revenue Ruling 2019-24 addresses common questions of taxpayers and practitioners regarding reporting crypto hard forks and airdrops.
Two U.S. lawmakers – Senator Sherrod Brown of Ohio and Senator Brian Schatz of Hawaii – have asked three payments giants Visa, Mastercard and Stripe to reconsider their partnerships with Facebook-led proposed stablecoin project, Libra.
UNICEF has launched a crypto fund to receive, hold and distribute donations of bitcoin and ether in its aim to back open source technology for children around the world.
FAT Brands, the parent company of franchises such as Fatburger, Bonanza Steakhouse and Ponderosa Steakhouse, in cooperation with digital securitization platform Cadence, is tokenizing a bond offering on the ethereum blockchain
The Libra Association is thinking of radical approaches to reach the unbanked in certain locations, including a “step-ladder” approach to KYC regulations. The FATF said it is open to working with Libra about potentially building new forms of digital identity. Libra believes blockchain forensics firms like Chainalysis, Elliptic and Coinfirm will help strengthen the case for “tiered KYC” by monitoring wallet profiles and transaction histories. Non-profits in the Libra Association like the Kiva Foundation may play a key role.
Hong Kong’s Insurance Authority announced on Tuesday that it has granted the first authorization for virtual general insurance under Fast Track. The license was granted to Avo, a local insurtech company providing products like health and travel insurance”
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The Kiffmeister is a former Senior Financial Sector Expert at the International Monetary Fund.
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