Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
Telegram’s lawyers haven’t had a quiet start to 2020. A judge gave them less than a single business day to respond to a request from the United States Securities and Exchange Commission to hand over details of how the company spent the proceeds of its $1.7 billion initial coin offering. In reply, the lawyers called for the court to throw out the regulator’s demands — insisting the “voluminous and highly sensitive bank records” have little relevance to the case in question. All eyes are now on Judge P. Kevin Castel in New York, who will decide whether Telegram has to disclose the information. The long-running legal dispute centers on the SEC’s allegations that Telegram broke the law by selling unregistered securities.
An executive who served as the head of technology at Barclays — and co-founded the British challenger bank Starling — has unveiled plans to launch a multicurrency account for fiat and crypto in the first quarter of 2020. Mark Hipperson’s new venture, called Ziglu, is set to allow users to spend their funds using a Mastercard debit card — with cryptocurrencies converted instantly at the point of sale. Although the venture is only going to be available within the United Kingdom to begin with, Ziglu has applied to the Financial Conduct Authority to become an official issuer of electronic money. As well as enabling consumers to buy and sell foreign currencies at interbank rates, crypto purchases and sales are set to be available at the best price across multiple exchanges.