TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Edward Snowden on Joe Rogan brings issues of government corruption and privacy back into focus. Ripple opens an office in Washington, DC. Facebook could lose banking services because of Libra. US Congress introduces a bill to classify stablecoins as securities. LocalBitcoins volumes fall due to KYC measures, and USDH is now available on MoonPay.
Edward Snowden on Joe Rogan Podcast
Infamous government whistleblower Edward Snowden made a remote appearance from an undisclosed location in Russia on the Joe Rogan Experience podcast. Rogan takes about as much as he gives when it comes to various issues, but privacy does seem to be a concern of his …, and Bitcoiners are keen to further. The pair talk for more than 2 and a half hours, and delve deeply into the subject.
Ripple Opens Office in Washington
Ripple, the cryptocurrency remittance and payments company, is opening a new office in Washington, DC to improve their efforts in exposing the benefits of blockchain technology to lawmakers. Their new regulatory division, who added Susan Friedman and Ron Hammond, will enable better communication between Ripple and policymakers. Ripple declared they were looking “forward to continued conversations with policymakers and are building a team that brings a wealth of legislative and policy experience.”
US Congress Could Classify Stablecoins as Securities
A new bill that seeks to classify stablecoins as securities has been introduced to the US Congress, presented to the House Financial Services Committee by Rep. Sylvia Garcia to achieve legal clarity in a “gray” area of regulation. If approved, this would give the US SEC jurisdiction over all stablecoins issued, including Libra, the Facebook cryptocurrency project. However, there is not much known about this project yet, and it is unclear if it will receive the kind of support needed to become a law.
Facebook Could Lose Banking Services due to Libra
Facebook could lose banking services if Libra does not satisfy regulations regarding money laundering and other “white collar crimes,” according to Ralph Hamers, chief executive of ING, a dutch banking services conglomerate. He clarified banks have the obligation to close doors to malicious actors, even if they are as big as Facebook.
LocalBitcoins Trading Volumes Fall After New KYC Measures
LocalBitcoins, one of the most important P2P bitcoin exchanges in the world, experienced an important fall in their trading volumes after implementing a new set of stringent KYC measures. Volumes fell from $61 million on September 28, to $41 million on October 12. Now, every user needs to provide ID information and proof of residence to trade any amount of bitcoin worth more than $1000 yearly.
USDH Can Now be Purchased With Credit Cards
Now, users can purchase USDH directly with credit/debit cards or ApplePay on MoonPay platform. @MoonPayHQ
— HonestNode (@thehonestnode) October 22, 2019
USDH, the first stablecoin built as an SLP token on top of the Bitcoin Cash blockchain, can now be purchased with credit cards and Apple Pay using a third party payment processor called MoonPay. MoonPay is a specialized fiat-to-crypto payment ramp where anyone can purchase cryptocurrencies using ordinary payment channels. This opens new possibilities for users not yet familiarized with cryptocurrencies to acquire USDH in an easy and secure way, paying 4.5% in fee per every transaction.
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