This is a weekly news round up of events concerning some remarkable happenings around the cryptocurrency community.
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Mark Zuckerberg testified before the US Congress this week concerning Libra Project. The outcome of the hearing wasn’t interesting because US Congress seems to be uncomfortable with the idea of Libra Cryptocurrency—which they see as threat to its government and financial institution.
Binance also listed its first fiat gateway on Binance.com. The Nigerian Naira was listed on Binance on 24the October, 2019. It happened to be the first fiat on the exchange which commands alot of trading volume against bitcoin on world known P2P exchanges around.
According to Eblockbuzz Kurecoin Exchange said Flutterwave had turned down its proposal to use its platform as a fiat payment gateway for Naira deposits and withdraws. But then, Flutterwave went on to accept Binance which is using its platform as a fiat gateway for same deposit and withdraws.
This week, Chinese President Xi commented on blockchain technology at Politburo Committee session on blockchain technology trends on Oct. 24. He urged the world to accelerate blockchain technology adoption.
This week also, bitcoin saw its highest gain within 24hours. The bitcoin trading price rose 45 percent up—to $10,000 high level target of its resistance level price of $7200. This happened to be the biggest daily gain since 2011.
The weekly news round is to keep you up to date on cryptocurrency happenings.
Just barely two days after Xi’s comment on China focusing developing on blockchain technology, the 13th National People’s Congress of the China passed law regulating cryptography on 26th October, 2019. The said law will take effect from Jan 1, 2019.