Crypto Market Overview by Noozzle

Facebook will reportedly launch its own cryptocurrency this month, but plans to hand over control of it to outside backers (FB)

The company plans to hand over control of the currency system to outside backers as part of a move to reassure financial regulators, the report says. Facebook has reportedly been in discussions with dozens of financial institutions and tech companies that will oversee the new cryptocurrency and contribute funding to the program. The payment system would be free of transaction fees and is designed to be used all over the world, especially in developing nations, The Information reports.

Binance Cryptocurrency Exchange Testing British Pound Stablecoin

Twitter user CryptosBatman noticed that the listing “$BGBP” appeared on the Binance platform.

Kadena’s ‘Pact 3.0’ Opens Conversation Between Public And Private Blockchains

Pact 3.0, the newest version of Kadena’s enterprise blockchain programming language, will allow developers to deploy simple executable distributed code contracts that can share data between public and private chains.

SEC Confirms Ethereum As Legal Usable Currency, Terms KIN Token As Securities In A Lawsuit

The legality of Bitcoin and Ethereum as a legit currency has been under the scanner for a long time. However, speculations were ended on June 5, when the Securities and Exchange Commission (SEC) confirmed Ethereum as a legal tender and usable foreign currency.

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