“Indian Advocate Suggests Government Over Crypto Regulation”
An Indian supreme court advocate has shared some thoughts on the kind of cryptocurrency regulation India can benefit from. The right regulatory framework “would ensure transparency, oversight and accountability,” but a “one size fits all” regulation would be a mistake, she explains. Meanwhile, the Indian crypto community and industry bodies have urged the central bank to allow crypto businesses to participate in its new regulatory sandbox.
“Coinbase Commerce Reaches $50 Million In Transactions”
Coinbase Commerce, the exchange’s online retail service, announced today it has facilitated $50 million in transactions since launching last year. With 10,000 monthly users, the platform is on a growth trajectory, homing in on early adopters with plans to innovate, according to Justin O’Brien, the product lead for the platform. The app launched in February 2018, allowing merchants to accept multiple cryptocurrencies as payment.
“Facebook’s Plan To Launch Its Own Crypto In 2020”
Facebook is finalising plans to launch its own crypto-currency next year. It is planning to set up a digital payments system in about a dozen countries by the first quarter of 2020. The social media giant wants to start testing its crypto-currency, which has been referred to internally as GlobalCoin, by the end of this year. Facebook is expected to outline plans in more detail this summer, and has already spoken to Bank of England governor Mark Carney. Founder Mark Zuckerberg met Mr Carney last month to discuss the opportunities and risks involved in launching a crypto-currency.
“Binance To Launch Margin Trading Soon”
Binance has confirmed it will be launching a margin trading service, after the cryptocurrency exchange accidentally tweeted images suggesting the service was in development. First noticed by Twitter users earlier on Friday, Binance posted screenshots of its platform in dark and light modes, asking users which one they preferred.TechCrunch reported Friday that Binance seems to have already launched the service in beta among “selected users.” A Binance representative also confirmed to the news source that margin trading will be available on Binance.com “soon.” Other cryptocurrency exchanges, including Kraken, Coinbase’s GDAX, OKCoin, Huobi and Poloniex already offer margin trading services. The margin offering comes as the latest service to be developed by Binance, currently the world’s second largest cryptocurrency exchange by adjusted volume on data site CoinMarketCap, in recent months.