Krasimir Buchvarov

Krasimir has been following the development of blockchain technology for several years and is optimistic about its potential. He covers breaking news in the sphere, focusing on innovation, regulation, and the cryptocurrency market.

Libra Association Holds Inaugural Meeting, Forms Governing Council

  • 21 organizations signed the Libra Association charter, while also naming its five member board of directors.
  • The consortium also set some ground rules for its governance, with major decisions requiring a majority vote from the ruling council.

G7: Financial Stability at Risk from Global Stablecoins

  • Even though G20 leaders previously admitted that crypto assets are not a risk to global financial stability, the new report says stablecoins come with their own challenges and risks.
  • The report also says that even if stablecoin projects can address all the legal, regulatory and oversight challenges and risks, they might still not get approved.

Coinbase Acquires E-Money License in Ireland

  • One year after opening an office in Dublin, the exchange became "one of just a few companies" to receive such a license in Ireland.
  • The license can be seen as a contingency plan, as Coinbase's U.K. e-money license could soon have limited benefits, courtesy of Brexit.

SEC Deems Telegram’s $1.7 Billion Offering Unlawful, Blocks GRM in the U.S.

  • The agency claims that Telegram failed to provide its investors with the needed information regarding the GRM token.
  • The SEC has obtained a temporary restraining order, aiming to stop the company from distributing its tokens in the U.S.

SE Digital Becomes Thailand’s First Regulated ICO Portal

  • The new ICO Portal Operator is already planning the launch of its first token offering, with a targeted transaction size of $98 million.
  • Another company, ERX, has also filed for a Digital Assets Exchange License, looking to provide a secondary market for tokens issued through SE Digital.

Binance DEX Now Offers an XRP-Pegged Token for Trading

  • The new XRP-BF2 token was issued with the aim of increasing the interoperability between different digital assets.
  • 10 million tokens of the XRP variant were issued, all of them backed 1:1 by native XRP, which is stored in a public wallet that can be monitored by anyone.

Bitwise’s Bitcoin ETF Proposal Rejected by the SEC

  • The reason behind the rejection was that NYSE Arca did not meet the requirements to prevent market manipulation and other illicit activities.
  • Currently, there is only one ETF proposal awaiting decision from the SEC, but things do not look good as it was again filed by NYSE Arca.

Mark Zuckerberg to Testify at a Congressional Hearing Regarding Libra

  • Facebook's CEO will be the only witness during "An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors" hearing on 23 October.
  • A new bill has been drafted, which is designed to block big firms from getting licensed as financial institutions in the U.S..

OpenLibra – a Permissionless Fork of Facebook’s Libra

  • The project plans to become "an alternative to Facebook's Libra", focusing on open governance and economic decentralization.
  • Reportedly, anything that can run on Facebook's Libra can be dragged and dropped into the new permissionless fork.

Swiss Central Bank to Research CBDCs

  • The Swiss National Bank will work together with the SIX Digital Exchange to explore how CBDC's can be integrated into a DLT platform.
  • DLT-based tokenized assets and CBDC's could stimulate new financial innovations, as well as reduce counterparty risk.