The Crypto Fanar #15 newsletter is out !
Crypto in a week
The week has been marked by major, if not historic, events for the cryptocurrency ecosystem. The main one is of course Facebook’s announcement of the launch in 2020 of its GlobalCoin, a project with currently 27 partners like Visa, Uber or Coinbase. Details on the private blockchain-based coin are not yet fully disclosed — the project’s White paper will be published on June 18 — but regulatory issues will be fundamental: GlobalCoin will be a real UFO with this regard.
Chances are the buzz around Facebook’s coin will attract more attention on the Bitcoin and other crypto-currencies and their legal status and compliance issues. Such issues are clearly a rising concern of international law enforcement agencies and Europol is no exception: they organized a big event with over 300 crypto-compliance experts from government and private sector to share best practices and promote training in this field. The Financial Action Task Force will also release new Standards that are expected to requires virtual asset providers to gather data on crypto transactions’ initiators and beneficiaries and share it with the beneficiary’s own service provider.
National legal frameworks regarding the cryptocurrency compliance are progressively taking shape, triggering debates in the local ecosystems regarding privacy rights, personal data, technical feasibility and cost.
Our Weekly Topic
First steps of the blockchain technology in Lebanon
An article by CSI for Le Commerce du Levant
We are hearing more and more about the blockchain, an decentralized ledger technology that allows digital data to be stored and transmitted in a secure and transparent way, without going through a trusted third party. The applications of this technology are potentially endless, but in Lebanon they are still limited.
Yet, several Lebanese companies and startups have each taken over the innovation in their own way: Vistory and Octave Youseeme in the field of e-commerce, BlocRecs with their degree fraud fighting solution, ThalerTech for blockchain infrastructures, and so on.
Read more on Le Commerce du Levant: link.