Facebook isn’t avoiding the U.S. to skimp on compliance, but because Switzerland is better for crypto. Among all the issues cropping up in Facebook’s recent hearing in the United States Congress regarding its new Libra cryptocurrency, the matter of location was perhaps the thorniest. Testifying before various banking and financial committees, Libra co-creator David Marcus […]
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FairX, a financial services company involved with banking and digital assets, has shut down its operations as it failed to establish a licensed national bank. FairX, a financial services company involved with banking and digital assets, has shut down its operations as it failed to establish a licensed national bank. According to a FairX Twitter […]
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Demand for virgin Bitcoin is currently at its all-time high. In a world where the global crypto community continues to face a growing number of regulatory hurdles with each passing day, the term “virgin Bitcoin” is starting to become more common among digital currency enthusiasts. However, it is of utmost importance to clarify what this […]
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The G7 warned it “cannot accept private companies issuing their own currencies without democratic control” as Libra continues to face resistance. Cryptocurrencies such as Libra risk upsetting the world’s financial system if they are not regulated tightly, G7 finance ministers have warned. According to Reuters, French finance minister Bruno Le Maire told a news conference […]
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Jamie Dimon says that he would not spend too much time on Libra as the coin does not pose a threat in the foreseeable future. Jamie Dimon, CEO of global financial services firm JPMorgan Chase, argued that Facebook’s cryptocurrency project Libra does not pose a threat in the foreseeable future. As reported by CNBC, Dimon […]
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David Marcus, head of Facebook’s crypto wallet Calibra, stresses the Libra stablecoin project’s compliance with the United States FinCEN in today’s hearing. David Marcus, head of Facebook’s crypto wallet Calibra, stressed Facebook’s intent to be compliant with the United States Financial Crimes Enforcement Network (FinCEN) in distributing the Libra stablecoin. As a Cointelegraph correspondent reports […]
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The U.S. congressional hearings on Libra may determine the future of the project. Here is what regulators think about Facebook’s crypto… This week is crucial for the future of Libra: Facebook’s cryptocurrency project will be subject to two back-to-back hearings in the United States Congress. First, the Senate Banking Committee will discuss the token on […]
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U.K. Finance Minister Philip Hammond said that regulators, not lawmakers, should make decisions regarding Facebook’s Libra stablecoin. The United Kingdom Finance Minister Philip Hammond said that regulators and not lawmakers should decide on how to regulate Facebook’s stablecoin Libra, CNBC reported on July 15. In an interview with CNBC’s “Squawk Box,” Hammond said that lawmakers […]
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The United States Treasury Secretary echoed President Trumps’ recent tweets on crypto as a speculative asset largely used to fuel illegal activity. United States Treasury Secretary Steven Mnuchin shares President Donald Trump’s concerns on the use of cryptocurrency to finance illicit activity, and stresses the role of enforcing FinCEN regulations with respect to crypto-dealing organizations. […]
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Researcher from RMIT explains why startups will fail to fulfil their promises to disrupt real estate with blockchain. Why have blockchain pilots in real estate abated somewhat? Those projects bump up against the fundamental inconsistency of blockchain and existing state system, and it seems they cannot confessed to this. First, there is no such thing […]
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