At a hearing this week, a congressman suggested that Facebook’s proposed Libra stablecoin should be classified as a security that should be regulated. Such a designation threatens the future of the social media giant’s foray into cryptocurrencies.
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Milo Yiannopoulos appears at LeWeb'13 Conference @ Methodist Central Hall, Westminster in London on June 5, 2013 (via Wiki Commons).Opinion: On Milo Yiannopoulos getting kicked off of Coinbase 3 minutes after joining
Uses racial slur to defend himself because Milo
Alt-right clown Milo Yiannopoulos got kicked off of crypto trading platform Coinbase in just three minutes—a record no doubt. He had previously been banned from funding site Patreon after just one day. Unlike a digital crypto wallet, the U.S.-based exchange follows a strict KYC (know-your-customer) protocol that involves submitting proof of ID to get your Coinbase Pro account working. So while Bitcoin is free and open, Milo’s ability to link it to a U.S. bank account is not.
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Wuabit bringing a cryptocurrency wallet to WhatsApp next month
The wallet would give 1.5 billion WhatsApp users access to a simple-to-use cryptocurrency wallet
Wuabit will bring its cryptocurrency wallet for WhatsApp messaging service in public beta next month, Britain’s Express reports. With a reported 1.5 billion WhatsApp users worldwide, that would give it a massive potential user base.
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Here’s what Facebook, Whatsapp, Telegram, and Instagram’s cryptocurrencies will look like—and why they’re bad ideas
Don’t shoot the messaging apps
Facebook is working on their own currency: a stablecoin, pegged to a mainstream currency. It will likely get rolled out first to users of WhatsApp, which could use this currency to send money to friends and family instantly. But will the currency they ultimately use have any value outside of the platform?
