Blockchain and Cryptocurrency News Roundup

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  • May 11, 2020
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11 May 2020.

Other than the 3rd Bitcoin halving being a few hours away, a lot has been happening in the blockchain and cryptocurrency world. Stay informed and check out some of the biggest headlines right here.

Coinbase experiences outage as Bitcoin price crashes 10%

“According to Coinbase’s status page, the exchange’s website, mobile app, and API website experienced partial outages beginning at 17:26 Pacific time (00:26 UTC). Ten minutes later, the San Francisco-based company said it was still investigating. Prominent Twitter accounts also noted Coinbase’s outage as the price of Bitcoin tumbled from $9,500 to $8,100.”

Coindesk

DBS Bank joins HSBC, ING in Contour trade finance blockchain

“Today, DBS Bank joined the Contour trade finance blockchain network to streamline letter of credit transactions for its customers, a Business Times report said. Previously known as Voltron or Letter of Credit blockchain, Singapore-based Contour had a beta launch earlier this year.  As of 2019, DBS Bank had total assets of S$579 billion ($409 billion) and is among Asia’s top banks. It has deep experience in leveraging blockchain for trade finance. DBS is also the first Singapore bank to join the Contour blockchain, which is digitizing the letter of credit processes such as creation, exchange, approval, and issuance.

Ledger Insights

Libra appoints their first CEO

His name is Stuart Levey, and he’ll start the job this summer, after vacating his current post as Chief Legal Officer for HSBC. He used to be the Under Secretary of the Treasury for Terrorism and Financial Intelligence—he held the position in both the Bush and Obama administrations.An Andreessen Horowitz partner who was responsible for sourcing Levey thinks he is up to the job. Levey possesses “the rare combination of an accomplished leader in both the government, where he enjoyed bipartisan respect and influence, and the private sector,” said Katie Haun.

Decrypt

Token Sales Treated as Securities Offerings by Default in Gibraltar

In an exclusive interview with Cointelegraph, Gibraltar’s minister for digital and financial services, Albert Isola, has welcomed firms wishing to launch security tokens to the jurisdiction. The minister revealed that the British Overseas Territory assumes that all token offerings are securities issuances by default, placing the responsibility on the issuer to be able to demonstrate otherwise. Minister Isola also revealed that the government will soon mandate that the employees of all financial firms in the jurisdiction attend a university course on anti-money laundering, or AML, risks.

Cointelegraph

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