Facebook’s Libra was dead as of July 2019
As soon as a blockchain scheme gets in front of the adults — it’s dead.
Tag: united states
News: Quadriga report, Coinbase VCs want to dump their dead altcoins, India to re-ban cryptos, Civil is dead
And some light summer reading.
News: Purse.io shuts down, Chinese CBDC test, new Libra member Heifer, North Korea does not dump its bitcoins
Zack Voell from CoinDesk fights the good fight to destroy the crypto markets, and do Buttcoin — and North Korea — proud.
News: Libra and stablecoins and FinCEN, China still hates crypto trading, Tether
And I’m doing another Intelligence Squared on Thursday 5 December — and this one’s free!
News: Tether sued, ether is a commodity, proof of work is still awful, IRS releases incomprehensible guidance
If you’re going to do crimes, don’t do them on a permanent immutable public ledger of all transactions.
Facebook and Libra’s terrible, horrible, no-good, very bad week — everybody’s left, Dave
“In a way it’s liberating” — David Marcus on almost all the payment companies leaving Libra.
News: Facebook Libra in the House and Senate, CFTC investigates BitMEX, India to ban holding cryptos, Justin Sun’s kidney stones
“Hey everyone. Is it normal and safe to buy bitcoin by mailing envelopes full of cash to someone? Let me know.”
News: Craig Wright hearing transcript, US Congress staff unimpressed with Facebook Libra, Reggie Fowler court date, Ledger Wallet bad firmware, Roubini/Hayes debate
“Well, let me get this straight. A company you didn’t buy until 2014 is listed as a beneficiary of a trust document you claimed was formed in 2012?”
FinCEN’s guidance on crypto business models — are you a money transmitter?
If you’re transmitting value that substitutes for currency, FinCEN’s Bank Secrecy Act will probably apply. This is about activities, not status or labels.