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Federally Chartered Banks and Thrifts May Participate in Independent Node Verification Networks and Use Stablecoins for Payment Activities https://www2.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-2.html WASHINGTON—The Office of the Comptroller of the Currency (OCC) today published a letter clarifying national banks’ and federal savings associations’ authority to participate in independent node verification networks (INVN) and use stablecoins to conduct payment activities and other bank-permissible functions. “While governments in other countries have built real-time pa
The Libra Association co-founded by Facebook aims to serve as a monetary authority for the Libra cryptocurrency. It says Libra's purpose is to "empower billions of people," citing 1.7 billion adults without bank accounts who could use the currency. The Libra Association is a group of 28 companies and non-profits helping to develop Libra. The Libra blockchain is implemented using Rust. The coding guidelines for the Libra Core Rust codebase are at https://developers.libra.org/docs/community/coding-guidelines On Friday 4th October, PayPal announced its withdrawal from the project. It sa
The Lloyds Banking Group (Lloyds Bank, Bank of Scotland, Halifax and MBNA) has blocked the ability for its customers to purchase crypto-currencies with a credit card (according to a report in The Telegraph). It is concerned about the level of customer debt set against falling values in cryptocurrency. However debit card purchases are not excluded.
Facebook has announced a change to its advertising policy restricting the advertising of cryptocurrency. It now says Facebook Ads must not promote ‘financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency.’