Crypto Weekly: Libra Association Signs Charter, KuCoin Announces Monthly Bitcoin Futures and More
Crypto Weekly: Libra Association Signs Charter, KuCoin Announces Monthly Bitcoin Futures and MoreKey Highlights
- Libra Association Signs Charter, Announces Board of Directors
- Stablecoins Pose More Issues Than Benefits – G7 Task Force Report
- Miami International Airport Welcomes Its First Bitcoin ATM
- Kucoin Announces Launch of Monthly Bitcoin Futures Contracts On Its Derivative Exchange KuMEX
- The Marshall Islands To Build Own Digital Currency
- Media Lab Acquires Kik, Sees Long Term in Kiks Native Token
Facebook, in its meet at Geneva, has announced its 21 founding members. The association further announced its board of directors. After the exit of top payments companies, Facebook has finally announced its team of founding members. Some of the members include Uber, Lyft, and Spotify. The team met in Geneva to sign the Libra Association charter which will govern Libra. Also, the board of directors will consist of David Marcus, Facebooks leader for the project, and representatives from Andreessen Horowitz, PayU, Kiva Micro funds, and Xapo Holdings.
G7 Report Lists Down Demerits of Stablecoins
The G7 task force has finally released its report. The latter highlights the shortcomings in the prevailing cross- border payment systems. However, the force is still wary if stablecoins will be able to resolve the same owing to their operational challenges. The report alleges that the adoption of global stablecoins is uncertain and the same will challenge the financial stability and the international monetary system. Also, regardless of their size, they will pose risks to anti-money laundering efforts across states and will hinder tax compliance and consumer data protection.
Furthermore, the task force alleges that the G7 nations will not allow any launch of a stablecoin without first ensuring the challenges and risks. The report first despised the cryptocurrencies and said that they have failed to provide an attractive means of payment or store of value. While the task force did consider stablecoins as a means of payment or store of value, the former considers that the cons outweigh the pros. Per the report, that the launch of the same will be a threat to the global financial stability and monetary system.
Now Do Bitcoin Transactions At Miami International Airport
Miami International Airport (MIA) this week welcomed its first Bitcoin Automated Teller Machine (ATM). The announcement was made by Bitstop, which is a Miami-based bitcoin technology software company. The installation of a bitcoin ATM at the Miami International Airport will aid in easier exchange of cash into bitcoin for travelers. The airport has the Bitcoin ATM installed at the central hall G next to Gate 16. As per st ...