Ex-Fed Man Frets About Libra-like Coins + 9 More Crypto News

Adoption Bithumb Exchange Investing Libra Regulation

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Tim Alper

Author

Tim Alper

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Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

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June 25, 2023

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Crypto Briefs is your daily bite-sized digest of cryptocurrency and blockchain-related news – keeping you up-to-date with under the radar crypto news from around the world.

Regulation news

• Former senior United States Federal Reserve official Simon Potter says that it is unlikely that “individual sovereigns could ever coordinate” around a cryptocurrency, but says there is a risk is that companies might seek to do just that. Per Bloomberg, Potter stated that “central banks should be very concerned about the private sector” attempting to collaborate using a cryptocurrency.
• In related news, when asked by Nikkei about Facebook‘s stated plans to launch their Libra token in 2020, CEO Mark Zuckerberg reportedly sidestepped the question. “Obviously we want to move forward at some point soon [and] not have this take many years to roll out. But right now I’m really focused on making sure that we do this well,” he was quoted as saying.

Blockchain News

• Hyundai’s blockchain and crypto subsidiary Hdac has signed a deal with a startup named I&Tech, which specialized in blockchain-powered university certificate issuance. The two companies will co-create a blockchain ID verification platform for use in the finance, healthcare, public and education sectors, reports Data Net.
• Lloyds Bank of the UK says it will launch a blockchain-powered trade finance platform. The bank has partnered with Komgo to create an offering for Lloyds clients. Per FS Tech, the bank says that the new platform will help traders buy and sell commodities faster than ever, doing away with “cumbersome and time-consuming” conventional trading technology.

Cryptocurrency exchange news

• Bithumb has returned to the top spot in South Korea for trading volumes, per CoinMarketCap figures. The exchange is currently Number 20 in the world, with its closest rival Upbit at 50th. Fellow South Korean rivals Coinone and Korbit trading volumes have dropped in relation to Bithumb, per a Newsis report.
• …and in further Bithumb developments, the exchange has circulated a press release stating that its international exchange platform, Bithumb Global, is now out of its beta testing phase. The company says that a “1.0 version” is now live and fully functioning – with improved functions, including faster transaction speeds.

Business news

• Block.one, the developer of EOS, said it has opened a new headquarters office in Washington DC. The company said in a blog post that it will “add additional roles in engineering and IT, cybersecurity, product development and marketing” for its new HQ. The company has committed to making 170 new hires in the next three years.
• Blockchain law is on the agenda for sessions at a summit of the International Bar Association (IBA) – a meeting of 6,000 lawyers from around the world. The IBA is meeting in a week-long session in Seoul, South Korea, with fintech lawyers and other specialists said to be in attendance, reports The Law Journal.

Investment news

• Nick Tomaino, founder of venture fund 1confirmation, said they have closed 1confirmation fund II, a USD 45 million fund to invest in new projects in the cryptocurrency ecosystem. In total, they’re now managing USD 75 million.

Adoption news

• A study by KPMG found that digital tokens are transforming the way consumers interact with each other and businesses. Loyalty programs represent an ideal platform for businesses to introduce blockchain-enabled tokenization and build brand equity among consumer, the company said.