Welcome to In Case You Missed It (ICYMI), a blitzkrieg of spicy crypto news from your decentralized best friend, Linzerd. Facebook uses data to benefit some and harm others. Uncle Sam wants your Monero transactions public. Binance presents its new decentralized exchange. Security tokens are illegal in China. Conflux wants to top bitcoin, and ConsenSys seeks to restructure due to the bear market.
Security Tokens Could You Get Jailed in China
Cryptocurrency is a dangerous thing to do in China. Or at least in Beijing. Huo Xuewen, chief of Beijing’s Municipal Bureau of Finance, has declared Security Token Offerings illegal in a very particular way. He declared to various sources that if anyone wants to issue a STO, “don’t do it in Beijing – it is illegal. You can only engage in such activities with the approval from the government.” So, avoid jail by STOffin’. Enough said.
Facebook Makes Friends and Foes
Facebook has done it again. According to an article published by The New York Times, the social network used its powerful control over its data to benefit some partners and punish others. This would mark the start of another scandal that hits deeply into the core of the Facebook business model. Partners like Airbnb, Lyft and Netflix were benefited with data agreements, while Vine’s access was denied, for example. .
Uncle Sam Wants Monero Naked Now
The government of the United States is now interested in having a blockchain framework to allow them to snoop into Monero and ZCash transactions. This because they fear illegal types of transactions could be made using these platforms. Also, it is in inferred that US law enforcement’s current capabilities are sufficient to track bitcoin transactions in an effective way. Such a naked change would undermine the effectiveness of Monero and ZCash to provide anonymous transactions to its users. So, if you use any of these coins, Uncle Sam could be watching.
Binance Goes Decentralized
Under the slogan “Your funds are more SAFU than ever,” Binance has presented a sneak peek of their new decentralized exchange initiative, Binance DEX. ChangPeng Zhao, the CEO of Binance, informed that the exchange could be ready by next year. The exchange will use Binance Coin for transactions and fees. Will you go decentralized with Binance?
Conflux Seeks to be the Chinese Bitcoin
How many times have we heard this? A startup called Conflux, that has raised more than 35 million dollars from Chinese companies, is now aiming to build a better blockchain than bitcoin. This because, according to them, they have found the way to add blocks to the blockchain concurrently, raising the number of transactions that the network can manage. Bitcoin is limited to add one block at a time. Maybe this could be the first time that we can say Chinese ripoff in a positive way.
Joseph Lubin to Save ConsenSys from Bears
The bear market is affecting the cryptocurrency industry like never before. ConsenSys, an Ethereum based startup project of Joseph Lubin, one of the co-founders of Ethereum. Joseph has proposed a total restructuring of the company that is destined to mitigate the effect of the difficult market that has destroyed various startups. This could include layoffs of staff. The reality of the bear market has hit every crypto company.
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