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Online travel company Booking.com joins PayPal, Stripe, Visa, Mastercard, MercadoLibre and EBay on withdrawing from participation in the Libra Association.
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The Telegram Open Network is probably dead. The emergency order stops Telegram from “delivering Grams to any persons, or taking any other steps to effect any unregistered offer or sale of Grams.” This is worldwide — not just for the US.
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Telegram sent a note to investors saying it is considering ways to resolve the temporary restraining order from the SEC , including the possibility of postponing the issuance after the Oct. 31 deadline.
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Telegram’s pledge to return money to investors in the event of a delay to the launch of its blockchain network may be superseded by a “force majeure” clause in its purchase agreement.
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Telegram has told its token investors that they are “surprised and disappointed that the SEC chose to file the lawsuit.” Telegram says it has tried to communicate with the regulator and solicit feedback over the past 18 months regarding its TON blockchain project. In its suit, the SEC said it asked Telegram to respond to an administrative subpoena and it refused to do so. In part because of this refusal, the SEC said that it had no choice but to file suit.
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Coinbase has been granted an e-money license by the Central Bank of Ireland. The crypto platform was granted a UK FCA e-money license in March 2018, and earlier this month gained access to the UK’s Faster Payment Scheme through ClearBank.
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Marco Polo, a trade finance blockchain that has partnered over 20 banks, is testing its first trade deal between Germany and Russia.
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“Stablecoin projects of potentially global reach and magnitude must meet the highest regulatory standards and be subject to prudential supervision and oversight. Possible regulatory gaps should be assessed and addressed as a matter of priority. “
Kiffmeister’s Fintech Daily Digest 10/14/2019
