TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Hedera thanks Facebook Libra on the pages of the Wall Street Journal. Bitcoin trades at a premium in India. Coinbase CEO Brian Armstrong evidently favors financial privacy. $50 million lending ICO Celsius to cease operations in the US. LINE is reportedly close to launching its own exchange in Japan, and Travala lets users book vacations with bitcoin cash (BCH).
Hedera Thanks Facebook Coin Libra in The Wall Street Journal
Hashgraph took out a full page ad in the WSJ sarcastically "thanking Facebook" lmao pic.twitter.com/AO6AxMJyw8
— Crypto Bobby (@crypto_bobby) June 22, 2019
Hedera, a blockchain company and owner of the Hashgraph protocol, published a full page advertisement in The Wall Street Journal, a nod of thanks to Facebook for allegedly copying its crypto model with Libra. Hedera stated, “Imitation is the sincerest form of flattery.” Hedera believes Facebook took its idea of a conglomerate of trusted companies operating a blockchain, turning it into Libra. They even insisted Hedera had some preliminary meetings with Facebook engineers to show them their model.
Bitcoin Trades at a Premium in India While Facing a Local Ban
Reports are Indian cryptocurrency traders are buying bitcoin at a significant premium over international prices (almost $500 more per coin) due to restrictions the government has exerted upon local exchanges to stop their operations. An Indian trader on Reddit states a new bill will be presented next month to outlaw holding or trading cryptocurrencies, punishing with sentences of 10 years in jail plus fines.
Coinbase CEO Brian Armstrong Favors Financial Privacy
Brian Armstrong, CEO of Coinbase, one of the most important US-based cryptocurrency exchanges, expressed a favorable view on transaction privacy in a Twitter thread recently. He insisted a “scalable, sufficiently decentralized, chain that supported private transactions by default (privacy coins) would be a game changer.” Armstrong suggested encryption could be part of the solution, and declared himself in favor of financial privacy, adding it would bring a “better/freer world.”
Celsius, a $50 Million ICO, Suspends Activities in the US
Celsius, a cryptocurrency lending startup that raised $50 million last year, is now suspending its operations and token distribution in the US due to regulatory concerns. Their token, called CEL, was announced as a utility token used to pay loan interest on the platform. But doing this might have made regulators view CEL as a security, leading to an uncomfortable choice for Celsius. COO Daniel Leon stated that “CEL cannot be used in the US, period.” The company has 40% of its clients on US soil, so this action might spark litigation from unhappy customers.
LINE Close to Launching Its Own Exchange In Japan
Messaging giant LINE is close to obtaining the necessary permits to open its own cryptocurrency exchange in Japan, according to Bloomberg. The license needed would be be approved by the FSA (Financial Services Agency), with the exchange set to be launched several weeks after. BitMax, as it is being called, will link more than 80 million LINE users with the world of cryptocurrencies, making this a priority for the firm. Spokespersons from the exchange declined to comment.
Travala Lets You Use Bitcoin Cash to Pay for Your Summer Vacation
— Travala.com ✈️ 🏨 (@travalacom) June 23, 2019
Travala, the leading cryptocurrency-based booking platform, lets you use bitcoin cash (BCH) to book your dream summer holiday. With more than 550K hotels in 210 countries, and savings of up to 10%, Travala is set to distinguish itself from other conventional travel agencies just by sheer numbers. And most important, it lets you leverage the power of your cryptocurrency without having to exchange it for fiat.
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