US Cryptocurrency Act Introduced; Jack Dorsey Survives Coup; Robinhood Down Again

TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Cryptocurrency Act bill introduced in US Congress. Jack Dorsey to stay on as Twitter CEO. Robinhood experiences 4 hour downtime during another critical trading day. Brave will randomize browser fingerprints to protect user identity. SideShift upgrades shifting solution with CashFusion, and GoCrypto onboards nearly 200 merchants in partnership with XPay.

Cryptocurrency Act of 2020 Presented in US Congress

Cryptocurrency Act

A bill seeking to end obscurity regarding the treatment of cryptocurrencies, called the Cryptocurrency Act of 2020, was presented to the US Congress yesterday by Paul Gosar (R-AZ). The Cryptocurrency Act of 2020 would divide all crypto assets into three categories, each one ruled by a different organization: cryptocommodities would be under CFTC supervision, cryptocurrencies would be under FinCEN supervision, and crypto-securities would fall under SEC jurisdiction. Gozar stated the cryptocurrency act “looks to provide not only clarity, but legitimacy to crypto assets in the United States.”

Jack Dorsey to Stay as Twitter CEO

Cryptocurrency Act

Jack Dorsey, the original founder of Twitter, will reportedly remain in his position after the company signed a partnership with Elliott Management and Silver Lake. The partnership will let Dorsey stay as CEO while letting the firms push for changes in other aspects of the company. Silver Lake will invest $1 billion, and these funds will be used to repurchase $2 billion worth of Twitter stock. Also, a member of each company will be allowed onto Twitter’s Board of Directors. Dorsey’s role as CEO was criticized over his divided attention as CEO of Square and his intention to live in Africa.

Robinhood Experienced Downtime Yet Again

Robinhood, the zero-fee cryptocurrency and stock trading platform, experienced downtime of nearly four hours for the second Monday in a row, causing outrage among their customers who lost the ability to trade during the starting hours of the day. Unfortunately, this happened on a terrible day for stocks and the market as a whole, causing frustration among customers who demanded reimbursements in social networks. The exchange did not specify the reasons for the outage, but they have been facing difficulties with their platform since last week when they experienced downtime for two days in a row.

Brave Will Generate Fingerprints to Maintain User Privacy

Cryptocurrency Act

Brave, the blockchain reward-based privacy-focused browser, announced they will generate random browser fingerprints to protect the privacy of its users. Different sites could require allowing them to identify the user and its location through the browser. Brave will now randomize and mask this data to let its user base enjoy true privacy while still letting these sites believe they are storing data. This is yet another step Brave is taking in its crusade against web tracking that started picking up steam when Google announced they were planning to block tracking cookies.

SideShift Upgrades Mixing Solution to CashFusion

SideShift, the KYC free cryptocurrency exchange platform, is now upgrading its Bitcoin Cash mixing system from CashShuffle to CashFusion, the evolution of the earlier protocol. The information was revealed in the SideShift Official Telegram channel. A SideShift representative also clarified while the platform is upgrading, the Bitcoin Cash exchanged and delivered to customers won’t be shuffled, as it was done before. CashFusion is already available in advanced stages of development and it is waiting for a security audit that will be paid by community donations matched by Bitcoin.com.

GoCrypto Onboards 200 Merchants in Partnership With Xpay

GoCrypto, a cryptocurrency payment processor, secured its presence in South American markets, onboarding almost 200 merchants and locations and it is now present in more than 13 countries, including Colombia, Venezuela, and Argentina. XPay, a cryptocurrency payments platform, served as a conduit to push the adoption of this system in these markets where cryptocurrencies’ POS are just being introduced. This partnership will allow XPay to receive payments in ethereum and GoCrypto, the official SLP payment token of the service through Elly Wallet, GoCrypto’s signature wallet.

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