Weekly News Roundup (10/15/19)
Welcome to our Snowball cryptocurrency media digest. Here we will provide you with regular updates on trending news from the blockchain and crypto space.
US SEC Rejects Bitwise Bitcoin ETF Proposal: Another high-profile proposal for a bitcoin exchange-traded fund (ETF) has been denied by the U.S. Securities and Exchange Commission (SEC). The agency, however, emphasized that the disapproval was not based on whether bitcoin has utility or value as an innovation or an investment. Read more.
Visa, Mastercard, Stripe, and eBay All Quit Facebook’s Libra: Facebook’s embattled Libra project suffered a major blow on Friday as four payment processors — Stripe, Visa, Mastercard, and Mercado Pago — withdrew from participation in the Libra Association, the Geneva-based group Facebook created to develop the virtual currency. eBay also announced its resignation Friday. eBay’s former subsidiary, PayPal, quit the group last week. Read more.
SNB and Swiss Stock Exchange Team Up on Digital Currency: The Swiss National Bank and stock exchange SIX will jointly explore how to make central bank digital money available for the trading and settlement among financial market players. The buying and selling of assets based on digital ledger technology has the potential to reduce counterparty risk and create “significant” economic opportunities, SIX said in a statement Wednesday. The initiative is part of the innovation hub for financial technology the Bank for International Settlements announced it was setting up earlier this year with the SNB. Read more.
Vanguard Developing Blockchain Platform for $6 Trillion Forex Market: Mutual fund giant Vanguard has partnered with Nasdaq Ventures-backed blockchain startup Symbiont to develop a trading platform for the $6 trillion currency market, the companies said. With the new platform, Vanguard, which manages $5.2 trillion, aims to lower transaction costs for the trillions of dollars worth of currencies it trades annually by boosting peer-to-peer trading for investors, connecting them directly via blockchain technology. Read more.
Join our Snowballin’ community:
Snowball app is now available in Apple App Store (US) ↓
