According to Nathaniel Popper, a technology reporter for The New York Times, Facebook is hoping to raise billions from investors for its work around cryptocurrency.
"I hear they are targeting big sums — as much as $1b," Popper tweeted. "One person I spoke with said that Facebook is talking about using the money as collateral for its cryptocurrency. Facebook has been designing the coin to keep a stable value, pegged to a basket of foreign currencies held in bank accounts."
The crypto payment processor Moon has announced that users can now leverage a Lightning Network wallet to pay for Amazon purchases through its browser extension. The extension also enables e-commerce payments with litecoin, ether and bitcoin cash through Coinbase accounts.
The Financial Crimes Enforcement Network (FinCEN) has assessed a civil money penalty against a peer-to-peer bitcoin trader for violating anti-money laundering (AML) regulations, its first enforcement action against a cryptocurrency exchanger. According to the agency, the exchanger failed to register as a money services business and failed to report "suspicious transactions," among other violations. The exchanger has been assessed a $35,000 fine and is now prohibited from providing money transmission services.
The Enterprise Ethereum Alliance has announced a "Token Taxonomy Initiative" to develop universal definitions for tokens to encourage their interchangeability across blockchain platforms. Members of the initiative include Microsoft, R3, ConsenSys, IBM, EY, Accenture and Intel.