TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Bitcoin used to buy tickets for space from Virgin Galactic. China Telecom proposes blockchain-enabled 5G SIM Cards. Brazilian payment processor Cielo supports cryptocurrencies. Argentina establishes restrictions for purchasing US dollars. Libra in the sights of EU antitrust regulators, and Indian bitcoin scammer murdered by his accomplices.
Bitcoin Moon, Virgin Galactic Gets You Close
Richard Branson's Virgin Galactic has confirmed they've now accepted bitcoin for payment for four tickets to outer space. Read more here: https://t.co/l8jNns9hr7 via @ForbesCrypto pic.twitter.com/n3yIRmIqt5
— Michael del Castillo (@DelRayMan) August 31, 2019
Virgin Galactic, part of Virgin Group helmed by Richard Branson, who is also a high profile cryptocurrency startup investor, revealed they received bitcoin to pay for four space flight of the tickets, according to Forbes. It appears at least two of the trip’s tickets were purchased in bitcoin by the Winklevoss brothers, owners of the Gemini cryptocurrency exchange.
China Telecom Prepares 5G Crypto Enabled SIM Cards
China Telecom, the biggest phone carrier of the country, presented a plan to marry 5G adoption with blockchain capabilities built directly on top of the network. The next-gen SIM card presented will be able to support ethereum and ERC20 tokens on any phone, and also will enable these mobile devices to act as nodes, potentially strengthening security of the blockchain. China Telecom also declared this combination of blockchain and the speed of 5G networks could have a variety of applications, ranging from identification to data protection purposes.
Biggest Brazilian Payment Processor Will Embrace Cryptocurrency
Cielo, the biggest payment processor in Brazil with over 1.4 million PoS terminals, will start supporting cryptocurrency payments in the coming months. While the first wave of this adoption will need for businesses to have a PoS terminal, and to be registered in their network, a new app called CieloPay is slated to be released later this year to support PoS-less payments with the aid of QR codes. This new cryptocurrency payment system is being backed by two national banks, Banco do Brasil y Bradesco.
Argentina Establishes New Purchase Restrictions for US Dollars
The Government of Argentina established new controls on the purchase of foreign currency, after its own fiat, the peso, lost 38% of its value just in August. The new controls state individuals will have a limit of $10K to buy monthly, and institutions must now sell their earnings in local currency. This paints a very favorable picture for the adoption of cryptocurrency, some analysts believe, in that maybe more will seek out crypto to acquire dollars in the same way Venezuelans have while also facing an exchange controls.
Libra in the Sights of European Union Regulators
EU Competition Commissioner Margrethe Vestager declared that Libra, the cryptocurrency project backed by Facebook, will be a natural focus for regulators. “From both a competition and a financial stability perspective, Libra will have our interest,” Vestager declared. Worries about how Facebook will link users’ data and their payments piqued the interest of the institution, and they dutifully sent questionnaires to Facebook in hopes of acquiring important information about how all of this will play out.
Indian Bitcoin Scammer Murdered by Accomplices
An Indian bitcoin scammer was murdered by his accomplices after he tried to scam them too. According to reports, Abdul Shakoor scammed vast amounts of cryptocurrency from locals in India, taking in almost $63 million. However, his luck ran out when he told his associates his Bitcoin wallet was hacked and assured them he would launch another crypto to pay the money. He was tortured and killed for access to the wallet, and investigations about the case are still ongoing.
CONTINUE THE SPICE and check out our piping hot VIDEOS. Our podcast, The CoinSpice Podcast, has amazing guests. Follow CoinSpice on Twitter. Join our Telegram feed to make sure you never miss a post. Drop some BCH at the merch shop — we’ve got some spicy shirts for men and women. Don’t forget to help spread the word about CoinSpice on social media.