The U.S. Federal Reserve published its latest Financial Stability Report and its assessment of stablecoins is surprisingly positive.

Stablecoins as a class include dollar-pegged cryptocurrencies like Tether, which are backed by traditional assets. Though the Reserve doesn’t drop names, it is mainly concerned with stablecoins that have global relevance.

The Internal Revenue Service is actively looking into potential money laundering and tax evasion issues posed by Crypto ATMs, a top official said to Bloomberg.

Cryptocurrency ATMs and kiosks allow users to buy and sell cryptos with cash in many locations across the world.

Bitfinex announced its intent to dismiss a Tether-related class action lawsuit, calling its allegations “ridiculous”. Filed on Oct. 6, the lawsuit alleges that Bitfinex and Tether operated a “sophisticated” scheme aimed at defrauding investors and manipulating the market.  

The World Gold Council hit back at the high-profile Drop Gold campaign, arguing investors see crypto as risky and speculative. But do the figures support that assertion?

The council released the results of a survey of 18,000 people in India, China, the U.S., Germany, Canada, and Russia designed to provide “valuable insights into what, how, why and where people buy gold… [in] the wider context of retail investment and luxury goods in general.”

Nervos, a proof-of-work challenger to Bitcoin, had its mainnet go live. The release comes on the heels of its $72 million token sale.

The Nervos CKB mainnet Lina just went live. The projects is attempting to solve the scalability issues faced by proof-of-work blockchains. Bitcoin, for example, is often criticized for its relatively high transaction fees and limited throughput. Nervos also claims that it will extend the capabilities of a pure transaction cryptocurrency by building smart contracts and layer 2 scaling into its project.

The TRON and Binance social media accounts were banned on Weibo, a Chinese microblogging platform comparable to Twitter.

Hours ago TRON and Binance were removed from one of China’s most popular social media websites. A translation of the removal pages read, “the account is in violation of Weibo community rules and regulations.” Crypto Briefing reached out to TRON and Binance and is yet to receive comments on the matter.

The Telegram Open Network under pressure from the Securities Exchange Commission for allegedly conducting an unregistered security sale, with a court hearing scheduled for 2020. But even if TON successfully defends its case there are other issues that may worry potential investors.

• VeChain has a bullish short-term and medium-term trading outlook
• The four-hour time frame shows that an inverted head and shoulders pattern has been triggered
• The daily time frame is still showing a large head and shoulders pattern

VeChain is surging higher, with the VET / USD pair adding over 20% to its trading value, following a major bullish breakout above its 200-day moving average earlier this week.

The cryptocurrency market remains under pressure on Friday, with Bitcoin and the top-10 cryptocurrencies by market capitalization trading in the red.

Ethereum, Ripple, Bitcoin Cash, Litecoin, Binance Coin, EOS, Bitcoin SV, and Stellar Lumen are posting losses of between -1.5% to -2.8%. VeChain is the notable outperformer with gains of over 20%.

Crypto Briefing’s CEO, Han Kao sits down with Crypto.com’s CEO Kris Marszalek to discuss the future of money and the role blockchain will play.

“Work on the stuff that matters. If you work on the stuff that matters, people will join you, and people will fund you.” – Kris Marszalek