Binance is now positioning its Venus stablecoin project as an alternative to Facebook's Libra, a month after downplaying any suggestions

The opportunity to use digital currency to pay for government taxes, services, and fees in Bermuda is on the way.In a major announcement David Burt, said the Government has committed to accept digital currency payments, providing they are one-to-one US dollar-backed digital currencies that are licensed by the Bermuda Monetary Authority.The intention is to have the initiative ready by the start of the new year.Support has come from Circle, the first company to achieve a full licence under Bermuda’s Digital Asset Business Act, and a group of others that include Binance, Bermudian-based Hub Culture, TrustToken and Stably.The Premier made the announcement this morning at the start of the Bermuda Tech Summit, part of Bermuda Tech Week.He said: "The Bermuda Government has committed to accept for payment of government taxes, fees and services, one-to-one backed US dollar digital currencies that get licensed by the Bermuda Monetary Authority."Mr Burt said Bermuda will be an example to other jurisdictions on how to adopt…

As Facebook faces scrutiny for its Libra project, one of the largest cryptocurrency exchanges, Binance, is looking to develop its own potential competitor: