Binance announced the rollout of its crypto debit card, the U.K.’s central bank is thinking hard about a digital currency and the taxman cometh. Here’s the story:
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BitGo is offering API support for the Financial Action Task Force’s (FATF) “Travel Rule,” which stipulates the originators and beneficiaries of financial transactions over $1,000 be identified and that their personal data must “travel” with those transactions. BitGo’s offering seeks to remove the headache of identifying wallets and transferring personally identifiable information between clients that use the San Francisco-based firm’s technology or custodial services.
Binance has announced the first major rollout of a debit card allowing users to pay for goods and services in crypto. Users in the European Economic Area (EEA) will be able to apply for a card from August; those in the U.K. will be able to do so afterwards. The service is powered by Swipe, the online payments juggernaut. Users can spend crypto – currently bitcoin, Binance Coin, Swipe Coin, and Binance USD – at any merchant that supports Visa payments.
Retail interest in Chainlink, which acts as a bridge between cryptocurrency smart contracts and off-chain data feeds, is now at the highest level it has been in well over a year. According to Google Trends, worldwide queries for the word “Chainlink” on the search engine reached a score of 100 in the week ended July 12, more than double what it was the preceding week. A score of 100 indicates it is the maximum number of searches observed for a term during a given time frame.
Ethereum developers are aspiring to launch Eth 2.0 in 2020. The sum of account balances maintained by the network’s nodes – called the state – continues to grow larger and larger as applications and projects transact. Adoption is good, but runaway growth is bad. Independent developer Alexey Akhunov may have a solution – one pulled from Cosmos, the interoperability blockchain. His new proposal, dubbed “ReGenesis,” posted on EthResearch on June 24, would bring stateless client research to the current Ethereum chain (also known as Eth 1.x) by “nuking” certain nodes’ states and swapping them with a math proof on a rolling basis.
The U.K.’s central bank is discussing the possibility of launching a digital currency. Speaking during an online event, Bank of England Governor Andrew Bailey told a group of U.K. students on Monday his institution was having talks over the plan, as reported by Bloomberg Tuesday. Bailey said ongoing investigations would look at a central bank digital currency (CBDC), which would have implications across “payments and society.” Calling it a…