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Crypto Flipsider News – July 22nd – Tether, Bitcoin Law Protest, Moneygram, Vitalik, Blockchain Gaming Unicorn

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Tether Promises Audits Reports, In Months

The team behind the leading stablecoin Tether (USDT), revealed their plans to issue the company’s audit reports in months. Tether has been promising such documents since 2017. The company has also been criticized for not disclosing what is backing its assets.

The move comes after the U.S. Treasury Secretary Janet Yellen asked for stablecoin regulation and SEC chairman Gary Gensler suggested that it could be treated as a security. Tether’s main competitor, Circle, was the first to reveal what assets are backing its USDC stablecoin

The usage of stablecoins has increased lately, mainly fueled by the growing adoption of digital currencies and DeFi.

Flipsider:

El Salvadorans Take On Streets To Protest Against Bitcoin Law

A group of El Salvadorian activists and student unions went to the streets this week to protest against the national Bitcoin law. The country was the world’s first to make Bitcoin the official national currency last month.

Protesters claim that almost three-quarters of the country is against Bitcoin’s Law. According to activists, the Law increases fraud and money laundering opportunities in the country and creates legal uncertainty.

Protesters blame president Nayib Bukele for the abuse of executive power. He was the main initiator of the idea and passed the Bitcoin legalization bill to the country’s Legislative Assembly.

Flipsider:

Moneygram Partners With Stellar After Cutting Off Contacts With Ripple

Leading money transfer American company MoneyGram is on the stage of establishing its business relationship with the Stellar Development Foundation. The company started to look for a new partner after the previous one, Ripple, was taken to court by the U.S. Securities and Exchange Commission (SEC) and the lawsuit, infamous within crypto circles, began.

Flipsider:

A Star is Being Born: Vitalik Buterin with Ashton Kutcher and Mila Kunis

Just yesterday, we reported that Vitalik will be filmed in a brand-new documentary about Ethereum that raised required funds in just 3 days. Today, the crypto community discovered the tweet of Ashton Kutcher and Mila Kunis, a famous Hollywood actor couple, starring Vitalik in their living room explaining Ethereum technology. It seems like the Ethereum founder gets along well with the movie community.

Flipsider:

Blockchain Gaming Unicorn Animoca Brands And Brinc Launch Nft Accelerator, Ethereum Upgrade For Reducing Eth Supply Is Going Nft

Flipsider:

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