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On this week:
Facebook’s Libra Welcomes Ecommerce Platform Shopify to its Crypto Project!
Libra is a digital currency founded by Facebook as a global payment project, backed by many big crypto exchanges such as Coinbase. On 21 Feb, Shopify announced its big move to work with Libra to build towards a payment network that works everywhere. The currency & network has yet to be released
Bitcoin Trial: Crypto Currency Exchange Quoine in Breach of Contract Over Reversal of Trade Orders.
In April 2017, Quoine reversed 7 trades placed by B2C2’s software, which mistakenly sold 1 ether at 10BTC (~250 times higher than the then market rate). Quoine argued that B2C2 was aware of the incorrectly priced trades and took advantage. However, the court dismissed Quione’s argument, as the B2C2 software would not be aware of this mistake when executing orders. On 24 Feb 20, the Singapore Supreme Court has ruled Quoine a violation of breach in contract and exchange must now pay B2C2 damage fees (to be decided in the next hearing).
Source: The Straits Time Singapore
After $4.6M Dinner with Justin Sun: Warren Buffett- I Don’t Own Any Cryptocurrencies and I Never Will!
Warren Buffett, CEO and Chairman Berkshire Hathaway, who has been a long-term crypto and Bitcoin skeptic, stated in his interview with Squawk Box that he still doesn’t own any crypto and “will never will”, “you can’t do anything with it except sell it to somebody else.” Seems that the $4.6M bid dinner with Tron founder Justin Sun did not manage to change his mind. </3 Buffett has previously also called Bitcoin a “delusion” and “rat poison”.
A Leap in Blockchain Adoption: Dapper Labs Partners with UFC to Bring New Digital Collectibles to the Blockchain!
Dapper Labs, the company behind Crypto Kitties, has announced a new partnership with UFC, the world’s premier mixed martial arts promotion company in America. UFC fans from around the world will have the opportunity to buy, trade and own UFC-branded digital collectibles on its new digital platform on Dappers Lab. This is yet another example of blockchain adoption into other industries & institutions.
G-20 Urges Countries to Implement Tougher Rules on Cryptocurrencies and adopt rules developed by the Financial Action Task Force.
During the summit, representatives from G-20 pressed countries to align themselves with global cryptocurrency security standards. The FATF’s “travel rule” was designed to reduce theft risk, prevent terrorists and money launderers using cryptocurrencies to go around existing controls and autorisations.