1. Telegram sent a letter to its investors, where it invited them to postpone the launching of TON due to regulatory problems. The launch will be postponed until April 30, if both groups of investors agree. During this time, the company will manage to resolve all disagreements with the SEC. If investors disagree, then they are offered a return of «approximately 77%» of the invested funds.
In addition, the company’s lawyers told the Manhattan District Court that they were ready to suspend all operations related to the Gram token. They asked not to introduce an official ban on the distribution of cryptocurrency, and in return, Telegram is ready to commit itself not to offer, sell or transfer cryptocurrency until the end of the proceedings.
It is especially should be noted, the fact that Durov hired the best US law firm to protect his interests. Skadden, Arps, Slate, Meagher & Flom are real «heavy artillery» in the American legal field. Forbes considers it the most influential Wall Street Company. This tells us that Durov is serious and ready to defend his interests in court.
2. Warren Davidson, member of the United States House of Representatives, said that it would be better if Facebook added Bitcoin support to their Calibra wallet instead of developing a new currency.
According to him, the July hearings in Congress over Libra were supposed to dispel the doubts of regulators, but they, on the contrary, only increased pressure.
«Many questions were not about Libra at all. Facebook is already filtering the content. Who wants to filter transactions or freedom?».
3. On October 16, David Marcus on CNBC noted that he is a big fan of Bitcoin, but Libra solves a different problem.
«If Bitcoin could cope with the tasks set by Facebook, Libra would not have to create. If there was a stable, low-volatility and scalable network, my life would be much easier. We would simply spend all our resources on integrating this network into the Calibra wallet» Marcus said.
He also acknowledged that regulators’ negative attitude to the initiative is largely due to the basket of national currencies to which Libra will be tied.
Earlier, he said that the departure of seven key partners from the Libra Association would not affect the development of the project and the launch of cryptocurrency. Marcus believes that many of the departed partners will return at a later stage, but that companies can provide their services without being members of the Libra Association.
«Visa and Mastercard will be able to develop and issue cards for Calibra wallet, not being part of the Association» he said.
4. Analysts at RBC Capital Markets are convinced that the regulatory barriers faced by the Libra project give China the national currency a chance to take a dominant position in the markets of developing countries.
They note, that the Libra announcement gave the People’s Bank of China a boost in development, as they were forced to accelerate in that direction.
5. The Bank of Canada is considering the possibility of creating its own digital currency, which will help to collect information about citizens’ spending and «fight with the direct threats of cryptocurrencies».
While this is all under discussion. Bank of Canada employees presented to the head of the financial institution Stephen Poloz and the board of directors a presentation in which they considered the advantages and disadvantages of this initiative.
«The asset, which will be supported by the Central Bank, has the advantages of ordinary money and at the same time provides safe and convenient electronic payments. We must go to the forefront in the integration of innovative technologies, so that in the end we don’t be left behind history» analysts said in the presentation.
6. The US Central Bank is also considering the launching its own cryptocurrency. This was announced by Rob Kaplan, CEO of the Federal Reserve Bank of Dallas.
«The final decision has not yet been made, but we are discussing this opportunity» he said at a business event in Austin.
He believes that the United States may have problems associated with higher costs at interest rates if the authorities of other countries or other organizations develop an alternative currency that will be used by the public. According to his calculations, expenses will grow by $ 200 billion.
«The dollar cannot always be the world’s reserve currency. $ 200 billion is a significant amount that can bring a number of problems. We have to carefully analyze the situation» Kaplan said.
7. The former CFTC chairman also believes that the US government is obligated now to begin developing its own digital dollar, which wouldn`t be dependent on central banks.
Christopher Giancarlo believes that the dollar may lose the status of international currency if other countries begin to develop their own cryptocurrencies. As a comparison, he cited the pound sterling, which was the most sought-after currency before World War II, but lost that status after it.
8. Binance announced the launch of a new IEO project Kava (KAVA).
The countdown period for the BNB tokens began on September 23 and will last until October 23. Kava developers plan to raise $ 3 million. As before, a maximum of 10 tickets are available on one account, if it had at least 500 BNB every day. One winning ticket gives the opportunity to receive an allocation of $ 200. It is necessary to request tickets on October 23, and on October 24, a lottery will be hold.
Participants, who don`t receive winning tickets will be able to take part in the airdrop in the amount of $ 150,000.
Binance also reported on the successful quarterly burning of 2,061,888 BNBs with a total value of $ 36.7 million. Given that the company allocates 20% of profits to buy tokens, its third-quarter revenue was $ 186 million. This is the second most successful quarter in the history of existence of the company.
9. The Government of Bermuda will accept payments for taxes and other public services in stablecoins USD Coin (USDC).
According to Circle’s stablecoin issuer, this is the first time that a sovereign state will accept taxes in USDC.