This Week in Cryptos: Binance Goes Stablecoins Way While Justin Sun Wins a Lunch Date With Buffet

Key highlights

  • Binance will launch stablecoins
  • Justin Sun wins lunch w/ Buffett
  • SL Benfica now accepts Bitcoin
  • OKCoin launches in Europe
  • Samourai Wallet raises money
  • India to go tough on cryptos

Binance will launch stablecoins

The stablecoin mania doesn’t seem to be ending as newer and newer players announce their arrival on the fiat-linked coin stage. And this time its Binance, the exchange giant, that wants to give its users an umbrella again the storms of volatility. According to the latest reports, in a phone interview with Bloomberg, Binance’s chief financial officer, Wei Zhou, said the first stablecoin will be launched on the platform “in a matter of weeks to a month or two.” According to Zhou, this could be linked to GBP and may be called Binance GBP. Although the exchange inked stablecoin have had a “dirty” past, Binance would definitely look to change that.

Justin Sun wins lunch w/ Buffett

Well, the new age crypto guy meets the old age talisman investor. The TRON Founder- Justin Sun has paid 4.5 Million U.S. Dollars after winning the opportunity to be a part of the 20th Anniversary charity lunch hosted by Warren Buffett which will take place in the New York City. Will Sun be successful in changing the mindset of Buffet who till date has called Bitcoin “Rat Poison Squared”. All eyes will be in New York

Also Read: Binance CEO Turns Down Justin Sun’s Invite to a Lunch with Warren Buffet

SL Benfica now accepts Bitcoin

Well, the sports world seems to be getting well with crypto world and defiantly football has led from the front. Yet again another football club is getting around with cryptos. According to the reports, SL Benfica partnered with cryptocurrency service Utrust to provide the new payments option. Fans and customers can now buy tickets any products on the club’s website with Utrust’s native token (UTK) or with top cryptocurrencies bitcoin (BTC) and ether (ETH).

OKCoin launches in Europe

Another Asian exchange this week has spilled over and expanded to Europe to make the nest of the growing market in the continent. Cryptocurrency exchange OKCoin has launched in the EU, opening up euro pairs to traders for the first time. Available from Tuesday for non-U.S. users, OKCoin’s new spot trading offerings cover euro pairs with bitcoin (BTC), ether (ETH) and bitcoin cash (BCH) at launch, with more pairs planned. The firm said on its blog that until Sept. 4, euros can be deposited and withdrawn fee-free.

Samourai Wallet raises money

More private money is flowing into crypto businesses with an anticipation of a better future. According to the latest reports, the team behind the privacy-obsessed bitcoin app, Samourai Wallet, has gotten its first round of venture funding. Founded by two former developers at Blockchain.info, Keonne Rodriguez and William Hill, the wallet’s maintainer, Katana Cryptographic, has received a $100,000 investment from Cypherpunk Holdings.

India to go tough on cryptos

According to the reports coming from India, Anybody in India dealing in cryptocurrencies will be sent to jail for 10 years, says a proposal in the draft of Banning of Cryptocurrency and Regulation of Official Digital Currency Bill, 2019. The draft bill also states that the penalty is applicable to those who “mine, generate, hold, sell, transfer, dispose of, issue or deal in cryptocurrencies directly or indirectly.”While this cripples hope for a lot of crypto businesses in the country, it also advocates the introduction of an official digital currency for India. The ‘Digital Rupee’ will be introduced after consulting the central board of the Reserve Bank of India (RBI).

Also Read: India: Top Crypto Leaders Shouting Loud at `10 Year Jail Report’, Doubting on Draft Bill Approval

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