US Treasury Secretary Stephen Mnuchin said that billions of dollars are involved in Bitcoin and other cryptocurrencies involved in illegal activities. In his opinion, providers of digital money and traditional financial services should be equally regulated. "There are billions of bills of credit,” says Treasury Secretary […]
Congress
Benois Cur, head of the G7 working group on steablcoins, said that global steblecoin can provide faster and cheaper payments, spur competition in this sector and thus reduce costs, and can also involve more people in the financial system, reports Reuters. However, there are pitfalls: the risks associated with money laundering, terrorist financing, data security […]
Brad Garlinghaus, head of California-based Fintech startup Ripple, agreed with US Treasury Secretary Stephen Mnuchin that cryptocurrencies could not replace fiat money, and also said that the head of the Ministry of Finance had consulted with him about the regulation of the crypto industry. He said this in one of the latest posts on Twitter. I agree that crypto is not likely to replace fiat […]
In the run-up to Tuesday’s speech by David Markus, head of the blockchain division of Facebook in Congress, US Treasury Secretary Steven Mnuchin held a press conference at which he stated that the Trump administration had “very serious doubts” about both the digital currency Libra and Bitcoin and other cryptocurrency in general. It is reported by Bloomberg. In particular, Mnuchin said that digital […]
Calibra CEO David Marcus has published a written version of his upcoming speeches in the US Congress. In it, he stressed that the activities of the Libra Association consortium will be regulated by the Swiss Financial Market Supervision Authority (FINMA), and the launch of the Libra project will not take place until the doubts of regulators are resolved. Marcus Testimony 7-16-19 by ForkLog on Scribd “I expect the period […]
In anticipation of the next week’s hearings on the proposed Libra digital currency project for Facebook, a bill was introduced in the US, if adopted by which technology giants would not be allowed to create their own assets of this kind. About this writes The Block referring to sources familiar with the situation. According to the publication, a document called Keep Big […]
Former chairman of the People’s Bank of China (PBoC), Zhou Xiaochuan, believes that the concept of a global digital currency that can be exchanged for Fiat, which was introduced by Facebook, threatens existing cross-border payment systems and may weaken the position of national currencies. He stated this at an event in Beijing, reports the South China Morning Post. In his opinion, the Chinese authorities need to strengthen the national currency […]
US President Donald Trump, who prefers to communicate his thoughts daily via Twitter, spoke for the first time about Bitcoin and Libra's digital currency from Facebook. According to him, their cost is extremely volatile and in general is not supported by anything. I’m not a fan of bitcoin and other cryptocurrencies, it’s highly volatile […]
Jerome Powell, chairman of the United States Federal Reserve System (FRS), believes that the Libra Facebook project to create its own digital currency cannot be launched until the world's largest social network answers the “questions of concern to everyone”. Reported by Reuters. Speaking on Wednesday to the US House of Representatives Financial Services Committee, Powell specifically stated: “Libra […]
The head of the blockchain division of Facebook, David Marcus, in his letter to the House of Representatives Financial Services Committee assured the congressmen that the company would make every effort to ensure the security of personal data of users preparing to launch the Libra project. It is reported by The Hill. In particular, Marcus declared his readiness to provide personal guarantees that “in order to do […]