Judge Phyllis J. Hamilton of the US District Court for the Northern District of California has ordered that two cases against Ripple and its CEO Bradley Garlinghouse merge together to optimize judicial resources.
Bitcoin Manipulation Abatement (BMA) is accusing Ripple of selling XRP as unregistered securities and misleading investors by engaging in false advertising.
Bradley Sostack, who is leading a class action lawsuit, also claims that Ripple sold XRP as unregistered securities — violating U.S. federal rules.
The plaintiffs in the case believe Ripple failed to register its token with the US Securities and Exchange Commission (SEC), and thus created 100 billion XRP out of nothing.
Ripple wanted to dismiss the class action suit at the end of 2019, opining that the plaintiffs should have acted within three years after the launch of XRP.
Hamilton let the case move forward this past February and believes combining the lawsuits will prevent the duplication of labor and conflicting results.
The Central Bank of Russia is reportedly developing a digital mortgage platform powered by MasterChain, a domestically developed blockchain.
First Deputy Governor of the central bank, Olga Skorobogatova says that MasterChain has recently begun to support digital mortgages, which will provide the foundation for their platform.
MasterChain is a permissioned, Ethereum-based blockchain launched in 2017 by the FinTech association and is reportedly the first blockchain platform in Russia to be certified by the Federal Security Service.
MasterChain was previously used for e-mortgages in Russia in September of 2018 as a Russian Subsidiary of Raiffeisen Bank International published mortgage documents containing data.
There remains a sentiment of “blockchain over bitcoin” in Russia as the country’s largest bank, Sberbank recently called for tenders to provide more than 4,000 ATMs capable of supporting blockchain operations.
Major crypto-lending startup Celsius is allowing its users to purchase gold-backed stablecoin Tether, using debit and credit cards with a minimum purchase of $50 and annual interest rates of 4%.
Celsius is expanding its partnership with Simplex, which will also unlock debit and credit card purchases for its native token (CEL).
According to Celsius users can earn interest in CEL on 25 different virtual cryptocurrencies at a rate of up to 30%.
On May 5 Celsius officially rolled out Tether Gold for depositing on its app, which allowed users to earn 3% of the annual percentage yield. Celsius is one of the few global companies that offer interest on Tether Gold deposits via debit and credit card purchases.
In February of 2020 Celsius launched in-app crypto purchases of Bitcoin and Ether via debit and credit cards through their partnership with Simplex.
Tommaso Mancini-Griffoli, a representative from the International Monetary Fund (IMF), believes a synthetic private-public partnership could be the best move forward for central bank digital currency (CBDC).
Mancini-Griffoli believes this type of partnership, as opposed to a CBDC completely controlled by a central bank, will empower private sectors to continue to innovate.
This type of synthetic partnership would allow private sectors to issue liabilities backed by the central bank reserves and would overall help to regulate and supervise businesses and institutions.
A regulated environment could provide an equal playing field for all private sector stablecoin innovators to grow as well as mitigate the financial stability risks they pose.
Mancini-Griffoli says that the best way to design the private-public partnership is an ongoing debate, noting that the “fundamental question is about issuing.”
He also maintains that the intention is not to “rock the boat” and that there would not be a massive wave of deposits moving away from banks due to these partnerships.
Australian public research RMIT has announced they are adding two postgraduate programs in cybersecurity and blockchain technology.
The university is partnering with IBM, Palo Alto Networks, and Stone & Chalk to offer the programs which are expected to start in October of 2020 and last nine months.
RMIT introduced the programs in order to meet the rising demand for industry professionals in cybersecurity and blockchain, noting that just 1 in 20 managers is able to easily find professionals in the field.
The Australian cybersecurity industry is expected to nearly triple over the next six years which would create the demand for 18,000 professionals in the country.
RMIT Online CEO Helen Souness believes that cybersecurity & blockchain technologies are emerging as “business-critical skills” and they are aiming to deliver the training to provide those skills in the Australian workforce.
Head of blockchain for IBM Australia and New Zealand Rupert Colchester says that graduates of the blockchain program will be able to help companies apply the technology to their operations.
Delta Exchange has announced new funding from Blockchain investor CoinFund aimed to provide resources for both parties to expand into India.
According to the announcement, CoinFund is looking to implement its first venture investment in India following the recent lift of the Reserve Bank of India’s ban on banks serving crypto-related firms.
CoinFund managing partner Alex Felix believes the decision to overturn the ban has primed Indian market for massive growth in crypto.
Delta Exchange CEO and co-founder Pankaj Balani says that India is a “huge untapped” market for both crypto spot markets and the crypto derivatives segment.
Balani also believes that “a lack of players” in India is due partly to the continual reluctance of many banks to offer services to crypto companies, though the growing demand from customers is changing that.
Founded in 2015, Coinchapter.com has become one of the leading resources for the crypto asset community. Created by a small group of cryptocurrency enthusiasts, Coinchapter.com was built to provide new members of the crypto asset community with unbiased listings of cryptocurrency exchanges and retail options that would allow them to buy the crypto assets that they wanted, how they wanted and at the price they wanted.