#regulation News

Facebook Heavily Criticized in Congressional Hearing, Zuckerberg Evades Specific Questions

Facebook Pay Launches as Lights Continue to dim on Libra

November 13, 2019 by Ashwath Balakrishnan at Regulation

Facebook Pay, a cross-application payment service launched by Facebook, will go live for United States customers this week. The service will be integrated across Facebook, Instagram, WhatsApp, and Messenger. Libra continues to face opposition from global regulators and Facebook Pay may be their way of showcasing their capabilities, November 13,...

Former U.S. Fed Chairman Alan Greenspan Discusses Digital Currencies and Libra

November 12, 2019 by Ashwath Balakrishnan at Altcoins

Alan Greenspan, the second longest-serving chairman of the Federal Reserve, has denounced sovereign digital currencies as pointless at an economic conference in China. According to CNBC, Greenspan also criticized Facebook by claiming that the sovereign credit of the United States was stronger than anything Facebook could create or imagine, November...

Singapore: MAS Partners JP Morgan to Develop Blockchain-Enabled Payments Network

November 11, 2019 by Aisshwarya Tiwari at Blockchain

Singapore’s financial regulator, the Monetary Authority of Singapore (MAS) has entered into a partnership with Wall Street titan JP Morgan Chase and Temasek to develop a distributed ledger technology-powered (DLT) multi-currency payments network. This, according to a report by Finance Magnets, November 11, 2019. Part of Project Ubin In a...

Germany: BaFin Launches Market Survey on Cryptocurrency Derivatives

November 11, 2019 by Aisshwarya Tiwari at Regulation

In an official announcement dated German financial regulator - the German Federal Financial Supervisory Authority (BaFin) – stated that it had launched a market survey on cryptocurrency derivatives. Wary of the Growing Crypto Industry Cryptocurrencies and Europe have historically had a fascinating dynamic between them. While some European countries have...

FBI Director: Cryptocurrencies Pose Threats to National Security

November 8, 2019 by Anthonia Isichei at Bitcoin

Appearing before a hearing by a U.S. Senate Committee to discuss national security and counterterrorism, the Director of the Federal Bureau of Investigation (FBI), Christopher Wray, replied to concerns about bitcoin and other cryptocurrencies. In the hearing held on November 5, 2019, the FBI Chief stated that cryptocurrencies are already...

Australia: Minister says bad Actors Still Using Cryptocurrency to fuel Terrorism

November 7, 2019 by Ogwu Osaemezu Emmanuel at Bitcoin

Australian Home Affairs Minister Peter Dutton has offered a stark warning claiming that terrorists are using crypto-currencies to fund their deadly missions, according to a report by SBS on November 7, 2019. Extremists Leveraging Cryptos to Cover Tracks Presenting at a counter-terror conference in Melbourne on November 7, 2019, Dutton...

Hong Kong Cryptocurrency Exchanges to Receive new Regulations

November 6, 2019 by Anthonia Isichei at Bitcoin

The regulatory watchdog in Hong Kong is set to release clear regulations regarding cryptocurrency exchanges in the country. According to a report by Reuters on November 6, 2019, the new set of crypto regulations will center on areas such as know-your-customer (KYC), anti-money laundering, and custody rules. SFC Set to...

China’s National Digital Currency is Anything but Decentralized says Ethereum Co-Founder

November 6, 2019 by Anthonia Isichei at Altcoins

China’s national digital currency is in the works, which would monitor transactions and curb money laundering. However, according to a recent interview with CNBC on November 5, 2019, Ethereum co-founder, Joseph Lubin, believes that China’s central bank digital currency (CBDC) lacks a key component of blockchain technology, which is decentralization. ...

Deadcoins: BitConnect, The Fallen King of High-Yield Investment Fraud

November 4, 2019 by Ashwath Balakrishnan at Deadcoins

Once beloved, now forsaken, BitConnect was the hottest thing in the market for a good year before the broader market realized this was a wolf in sheep's clothing. People all over the world fell victim to the exuberance of the scheme, offering a whopping one percent daily compounded yield. BTCManager...

Libra looking over a tower of bank notes

Facebook and Libra Strives Onwards Despite Odds Stacked Against Them

October 30, 2019 by Ashwath Balakrishnan at Altcoins

David Marcus, head of Facebook's Calibra wallet spoke at the Money 20/20 conference about what Libra is trying to forge and their commitment to a 'noble' vision. The narrative that has recently been doing the rounds is that of Libra establishing a monopoly over the financial system. According to Marcus,...

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