TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto update from your favorite reporter, Linzerd. CFTC could approve Ethereum futures. WeChat bans cryptocurrency trading. MakerDAO critical vulnerability found. Brave Ads has more than 1,300 advertisers on the waitlist. Edge wallet lets users cash out bitcoin with their credit cards, and the Petro is still being used, but barely.
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CFTC Could Approve Ethereum Futures
The U.S. Commodity Futures Trading Commission (CFTC) is open to approving ethereum based futures, according to an article by Coindesk. An unidentified senior official declared the CFTC would be open to approving Ethereum futures “provided it ticks the right boxes.” However, an application would have to be submitted for the regulator to consider it and to examine the feasibility. “I think we can get comfortable with an ether derivative being under our jurisdiction,” the official said.
WeChat Bans Cryptocurrency Trading
Urgh, Wechat just updated its payment policy .. merchant can’t serve any token issuance/fund raising or crypto trading activities, otherwise account will be terminated
Given most OTC transactions are happening in wechat, this may impact local liquidity to quite some extent pic.twitter.com/TdNIO6cggS
— Dovey Wan 🗝 🦖 (@DoveyWan) May 7, 2019
WeChat, one of the most important messaging services in China, updated its payment policies terms and has banned merchants for serving “any token issuance/fundraising or crypto trading activities,” according to Dovey Wan, co-founder of Primitive, a cryptocurrency asset fund. Wan also commented this could affect market liquidity because most of the OTC cryptocurrency sales and purchases were made through this platform, something that could cause a price surge to some degree.
Critical MakerDAO Vulnerability Found in Governance Voting Contract
Zeppelin, a blockchain and smart contract auditing firm, discovered a critical bug in MakerDAO, affecting tokens staked for governance and voting purposes. The firm has already disclosed the vulnerability to the MakerDAO team and issued a new voting contract to correct the vulnerability. Users that have not staked their coins to vote must take no action, but if the coins have been staked, owners should return these funds to their personal wallets.
Brave Advertiser Waitlist Has Over 1,300 Companies
— BrendanEich (@BrendanEich) May 6, 2019
Brave, the blockchain based internet browser, has enjoyed great success after launching Brave Rewards and Brave Ads, two initiatives closing the loop between advertisers and users. According to a tweet by Brendan Eich, co-founder and CEO of Brave Software, there are more than 1,300 advertisers waiting to hop on the new ad market paradigm, rewarding users that willingly watch ads with their native token, BAT.
EDGE Lets Users Cash Out Crypto to Credit Cards
Edge, a cryptocurrency trading and wallet app, now lets European customers cash out cryptocurrencies to their existing Visa credit cards. This functionality will be provided by a third party company called Simplex, that is already offering these services to other exchanges like Binance and Xapo. This would let users spend and cash out cryptocurrencies almost instantly, with the added bonus of being accepted everywhere a normal Visa card is accepted, bridging the gap between crypto and purchases.
The Petro is Being Used, But Not by a lot of People
The Venezuelan cryptocurrency, The Petro, has been reported used by a very small audience, according to an article from LongHash. The Petro can be obtained and transacted normally as any cryptocurrency, with some strange quirks like a deep KYC procedure to enter the only exchange that has a PTR/BTC trading pair. However, this is a fully centralized cryptocurrency in the hands of an authoritarian, unstable government with no real price established, so trustability is really the issue.
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