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BitDigest September 11 · Issue #740

Sep 11, 2020
Author
Gregory Landegger
Gregory Landegger
  • Crypto prices end the week flat following recent pull back
  • Christine Lagarde announces that the ECB will release its verdict on the digital Euro shortly
  • Pomp gets Cramer to buy bitcoin
BitDigest September 11 · Issue #740
BitDigest September 11 · Issue #740

The Headlines

BitDigest September 11 · Issue #740

ECB Verdict on Digital Euro Expected Shortly

www.bloomberg.com
European Central Bank President Christine Lagarde announced that the findings of euro-zone central bankers will be presented to the public on whether or not the region needs to create a digital version of its currency “in the coming weeks;“ this will be followed by. period of "consultation” before any action is formally taken.
BitDigest September 11 · Issue #740

Switzerland Approves Blockchain Act

www.swissinfo.ch
Switzerland’s Parliament approved the “Blockchain Act” which will provide a framework for entities involved with digital assets, allow the creation of digital company shares and establish regulations regarding digital assets during corporate bankruptcies; the law is expected to come into effect in early 2021.
BitDigest September 11 · Issue #740

IRS Looking to Track Privacy Coin Transactions

www.beta.sam.gov
The IRS is seeking a proposal for a solution to trace transactions involving privacy cryptocurrency coins such as Monero (XMR), Layer 2 network protocol transactions such as Lightning Labs, or other off-chain transactions that provide privacy to illicit actors.
BitDigest September 11 · Issue #740

Treasury Sanctions Russia-Linked Election Interferors

www.home.treasury.gov
The US Department of Treasury’s Office of Foreign Assets Control (OFAC) has designated Russian-linked individuals for attempting to influence the upcoming US presidential election and accusing them as well as Russia’s Internet Research Agency of using digital currencies to fund activities in furtherance of their ongoing malign influence operations around the world.
BitDigest September 11 · Issue #740

Bank Settlement Coin Project Delayed

www.uk.reuters.com
UBS’ utility settlement platform, now known as Fnality, an international bank led project to create digital versions of leading fiat currencies to facilitate faster and lower cost settlements has been delayed due to regulatory approvasl and is not expected to be operational until before the first quarter of 2021.
BitDigest September 11 · Issue #740

tZERO Approved to Launch Retail Broker

www.businesswire.com
Overstock.com’s capital markets blockchain subsidiary, tZERO announced that the Financial Industry Regulatory Authority (FINRA) has approved its membership application allowing tZERO to offer its customers retail brokerage services for digital securities and provide issuers with investment banking and placement agent services in connection with capital raising activities.
BitDigest September 11 · Issue #740

Square Introduces Crypto Patent Alliance

www.open-patent.org
Jack Dorsey’s payment platform Square has introduced the Cryptocurrency Open Patent Alliance (COPA), a consortium established to tackle the concerns over “patent lockups” by having member pledge to never to use crypto patents against anyone (except for defensive reasons) and to create a shared patent library where members pool all of their crypto patents together to form a collective shield of patents allowing members to use each others’ patents to deter and defend against patent aggressors.
BitDigest September 11 · Issue #740

Bitstamp to Use Nasdaq Matching Engine

www.globenewswire.com
Bitstamp is integrating a new order matching engine from Nasdaq allowing Europe’s largest digital exchange by volume to meet high levels of demand even during extreme volume spikes by match orders as they are opened, rather than placing them in a waiting queue.
BitDigest September 11 · Issue #740

Pomp Gets Cramer to Buy Bitcoin

www.twitter.com
Morgan Creek Digital Assets’ Anthony Pompliano says he convinced CNBC Mad Money host Jim Cramer to buy some bitcoin – Pomp’s podcast with Cramer will be released on Monday.

Market Data

BitDigest September 11 · Issue #740

CBDCs Coming Within 2 Years

www.omfif.org
Findings from a survey by the Official Monetary and Financial Institutions Forum, a central banking and economic policy think tank, expects that ‘within the next two years, the first fully operational central bank digital currency will have been launched.’

Exchange, Custody and Product News

BitDigest September 11 · Issue #740

Binance Commits $100 million to Applications Built on its Blockchain

www.binance.com
Binance has announced the creatin of a seed fund with $100 million in committed capital to build and support the development of DeFi (decentralized finance) and CeFi (centralized finance) protocols built on the native Binance blockchain.
BitDigest September 11 · Issue #740

Coinbase Adding Yearn

www.blog.coinbase.com
Coinbase is planning to add trading support for DeFi yield generating platform yearn.finance (YFI) on Monday, September 14th – except in New York.

Thoughts on the Ecosystem

BitDigest September 11 · Issue #740

Digital Assets are No Longer on the Fringe

www.dailyhodl.com
New York Department of Financial Services superintendent Linda Lacewell believes digital currencies are an “important…[developing] innovation and…potential alternative to some aspects of the financial system” that deserves support from regulators.
BitDigest September 11 · Issue #740

Privacy and Immutability Need to be Addressed

www.unisa.edu.au
Research from The University of South Australia indicates there are key privacy issues inherent to current blockchain platforms, suggesting greater effort should be made to refine the technology so it conforms to privacy rights and expectations, especially regarding Europe’s new privacy mandates.
BitDigest September 11 · Issue #740

Bitcoin Can Be the Native Internet Currency

www.twitter.com
Square and Twitter CEO Jack Dorsey believes the internet wants and needs a native digital currency and sees bitcoin as the best manifestation of this consensus driven ideal; he sees the need for bitcoin to become more intuitive to people – like paper cash – and more “time effective.”

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