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Magnifying Glass Cracking the Libra Coin

Kenyan Central Bank Governor Believes Facebook’s Libra is too Risky

July 23, 2019 by Ogwu Osaemezu Emmanuel at Finance

The Central Bank of Kenya (CBK) has given its take on Facebook’s Libra cryptocurrency project. The apex bank has said that Libra comes with phenomenal risks that need to be properly understood, reports local news source, Telecompaper on July 22, 2019. CBK Wary of Libra Per sources close to the...

Steve Mnuchin Claims G7 Finance Ministers and Central Bankers Concerned About Libra

July 20, 2019 by Ashwath Balakrishnan at Finance

The Treasury Secretary of the United States of America, Steve Mnuchin, told CNBC in an exclusive interview that G7 financial heads were not comfortable with Libra and expressed their doubts over the ability of the payment consortium to adhere to anti-money laundering (AML) and money transmission regulations. A variety of...

Bank of Thailand: Libra’s Benefits and Risks must be carefully Studied

July 20, 2019 by Ogwu Osaemezu Emmanuel at Regulation

Bank of Thailand (BOT) Governor, Veerathai Santiprabhob, has given his take on Facebook’s Project Libra, making it clear that the merits and risks of the digital asset still need to be studied extensively, reports local news source, Bangkok Post on July 19, 2019. BoT to Closely Monitor Libra Per sources...

Jamie Dimon Isn’t Worried About Competition From Libra

July 18, 2019 by Ashwath Balakrishnan at Altcoins

The CEO of America's biggest bank, J.P. Morgan Chase, doesn't believe it is worth losing sleep over Libra for the time being. Dimon is of the view that in the short term, Libra will have little to no effect on banks and global payments in general. He further stated that...

German Minister Calls for Close Monitoring of the Cryptocurrency Sector

July 18, 2019 by Anthonia Isichei at Regulation

A German minister has recently called on regulators to pay attention to the cryptocurrency industry, including Facebook's Libra. According to a report by Reuters on July 16, 2019, the minister said that regulators should ensure that the nascent industry doesn’t threaten the stability of the financial sector Governments Increasingly Wary...

A Fiat dollar coin waving a digital currency flag blue purple

Report: Regulated Digital Money will Boost Global Payments Systems

July 17, 2019 by Ashwath Balakrishnan at News, Regulation

Supranational economic institutions have been studying the effects of cryptocurrency and blockchain. In a report released by the IMF, July 15, 2019, they highlight the potential for cryptocurrencies and traditional digital money to spark a new age of payments. In the future, it is idealised that cash dependence will severely...

Steven Mnuchin holding a pieceof paper with question marks and Libra on it, not looking happy at all.

U.S. Treasury Secretary Expresses Libra and Digital Asset Concerns

July 16, 2019 by Ashwath Balakrishnan at Regulation

Steve Mnuchin, the secretary for the United States Treasury, held a press briefing to address the sudden storm of cryptocurrencies led by the announcement of Libra. Mnuchin, along with other bureaucrats, expressed scepticism over the launch of Libra, going as far as drafting a bill to keep tech companies out...

The United States Seeks to Prohibit Big Tech from Banking and Finance

July 16, 2019 by Ashwath Balakrishnan at Regulation

A copy of draft legislation barring big tech from entering the banking industry and providing financial services has been doing the rounds. It is believed that this draft has been circulated amongst the House Financial Services Committee's Democratic majority. This is a direct response from big banking to the threat...

Facebook Heavily Criticized in Congressional Hearing, Zuckerberg Evades Specific Questions

U.S. Federal Reserve Puts Facebook’s Project Libra in the Hot Seat

July 11, 2019 by Ogwu Osaemezu Emmanuel at Altcoins

The United States Federal Reserve Chairman, Jerome Powell, has joined the growing list of authorities calling for the head of Mark Zuckerberg and Project Libra. Powell says Libra's global cryptocurrency poses serious concerns regarding money laundering, privacy, and a host of others reports CNBC on July 10, 2019. Powell Says...

Storefront with American Flag Hanging by the Side

Hong Kong Based Blockchain Firm Set to Go Public in the USA

July 11, 2019 by Ashwath Balakrishnan at Business

A blockchain services firm, Diginex, is set to undergo a reverse merger from 8i Enterprises and go public in the USA. The firm will be listed on NASDAQ following the demerger anonymous insiders told to Bloomberg on July 10, 2019. First Blockchain IPO in the U.S. Diginex Ltd. is set to...

Security Camera Examining a Pile of Bitcoins

Visa and Blockchain Capital Lead $40 Million Round in Anchorage

July 11, 2019 by Ashwath Balakrishnan at Blockchain

Payment processor Visa along with specialist VC firm Blockchain Capital helped Anchorage, an institutional custodial service, raise nearly $40 million in capital at an undisclosed valuation. Visa recently launched a cross border remittance network with a pseudo-distributed ledger. This move shows their optimism that more institutions will look to gain...

Facebook in a Meeting with a CFTC official statue of liberty in the background

Facebook Assures Senate Committee That They Will Play by the Rules

July 10, 2019 by Ashwath Balakrishnan at Altcoins

David Marcus, the head of Calibra, wrote a letter to the House Financial Services Committee solidifying Facebook's stance that they will ensure customer privacy and are taking their time to roll out Libra, allowing it to be done correctly, as reported by The Hill. Earlier this month, Marcus took to social...

Indian Elephant and Chinese Dragon Both Looking to a Libra Coin

China and India Are not Comfortable with Libra, Need More Information and Clarity

July 10, 2019 by Ashwath Balakrishnan at Altcoins

China and India combined comprise nearly 35 percent of the world population. Bloomberg reported that the People's Bank of China (PBOC) wants Facebook to reveal more information about Libra while Economic Times noted that the Indian Secretary of Economic Affairs believes the country is not comfortable with private currencies, July...

Gen Z kid with blue hair thinking about bitcoin and finding it to be very boring

Survey: Generation Z not that Crazy about Bitcoin

July 8, 2019 by Edoardo Vecchio at Bitcoin

According to a survey conducted by Business Insider, July 5, 2019, the majority of Generation Zers, the demographic cohort after the Millennials, is not very interested in purchasing cryptocurrency anytime soon. Generation Z snubs Cryptos Being born at a certain point in history can decisively influence one's own way...

Christine Lagarde kickin back watching Libra and Bitcoin Fall

ECB Executive Says Libra Crypto Is a Wakeup Call to Regulators

July 8, 2019 by Ogwu Osaemezu Emmanuel at Regulation

An Executive Board Member of the European Central Bank (ECB), the financial institution responsible for administering monetary policies within the Eurozone, has opined that financial watchdogs across the globe must now fast track the process of regulating bitcoin (BTC) and other blockchain-based digital assets, as more and more institutions like...

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