As we entered this year, Zuckerberg, on January 4, expressed his thoughts and love for cryptocurrencies. However, the plan was then pushed under the carpet and on January 31, the social media giant had even banned all the crypto-related ads on its platform.\r\n\r\nAs the world moved on from the Cambridge Analytica fiasco, Zuckerberg seems to have planned a return to his crypto experiments. On May 9, David Marcus, who previously oversaw Facebook\u2019s Messenger app, revealed the formation of a new division, dedicated to blockchain technology.\r\n\r\nNow, it is being reported that Facebook is onto a plan to launch a cryptocurrency, starting with its India market.\r\n\r\nLet\u2019s take a look at Facebook\u2019s cryptocurrency and other Bitcoin-related news of this past week.\r\nFacebook Is Developing A Cryptocurrency For WhatsApp Money Transfers\r\nFacebook may be looking to dabble in cryptocurrency-based payments solutions for its messaging platform WhatsApp, with a focus on its Indian users.\r\n\r\nThe US-based social networking giant is developing stablecoin \u2014 a cryptocurrency pegged to the value of the US Dollar \u00a0\u2014 to minimise the effects of volatility.\r\n\r\nAccording to the reports, Facebook is currently working on a plan for custody assets or regular currencies to protect the stablecoin\u2019s value with a focus on the remittance market in India. The country is ranked first in terms of remittances with non-resident Indians sending $69 Bn (INR 4.84 Lakh Cr) back to India in 2017, according to World Bank data.\r\nPune Police Seizes 451.999 Bitcoins\r\nWorking on the Amit Bharadwaj cryptocurrency fraud case who along with nine others has already been chargesheeted, Pune police has now seized 451.999 Bitcoin from another suspect, involved in the Dattawadi case, according to reports.\r\n\r\nJyoti Priya Singh, the deputy commissioner of police (cyber), said, \u201cThe Bitcoins were seized from the e-wallet of Sahil Omprakash Bagla \u2014 a suspect from Delhi \u2014 after a digital forensic analysis of his account was done.\u201d\r\nEthereum Creator Gives Away $300K\u00a0 To Startups \u00a0\u00a0\r\nThird leading cryptocurrency Ethereum creator, Vitalik Buterin, has given away $300K in cryptocurrency to Ethereum startups.\r\n\r\nButerin gave away the $300K to three Etherum startups: Prysmatic Labs, ChainSafe Systems, and Sigma Prime. Each of the startup has received 1K Ethereum from Buterin, which was later disclosed in a Twitter thread.\r\n\r\nAll the three startups are reportedly working on to improve the Ethereum network and move it into Ethereum 2.0. ChainSafe is creating an Ethereum 2.0 compatible client; Prysmatic Labs is working to improve scalability; and Sigma Prime is also working on a 2.0 client called Lighthouse, reported Unhashed.\r\nHong Kong To Tighten Cryptocurrency Laws\r\nWhile Mainland China has almost shut its doors for cryptocurrency trading in the country. ICOs and cryptocurrency trading is still allowed in Hong Kong.\r\n\r\nNow, reports have emerged that be it, crypto exchanges, traders, investors, crypto-based companies or institutions; all will be put under tighter oversight of the Securities and Futures Commission (SFC) in Hong Kong.\r\n\r\nAccording to the latest SFC guidelines, now onwards, a license will be required for any investment funds which comprise more than 10% of bitcoin or any other cryptocurrency coins or tokens. The funds can only be sold off to professional investors.\r\n\r\nIn other news, US lawmakers have now introduced a Bill in their Congress proposing a call for sanctions against all those countries who are extending their services to Iran in building its own fiat cryptocurrency.\r\n\r\nThe fiat cryptocurrency would help Iran evade US sanctions while trading with other countries.