U.S. Congress drafts legislation against big tech companies acting as financial entities and securities regulations, but will Facebook back down? As the cryptocurrency universe enters 2020, U.S. lawmakers are drafting bills to provide clarity around stablecoins and offer regulations for tech companies like Facebook that might want to create their own cryptocurrencies. The draft legislation “Keep…
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Amid volatility and regulatory uncertainty, some projects and individuals came out on top in 2019 while others faltered. Even though the cryptocurrency industry is not new to ups and downs, 2019 has turned out to be the year with the most surprising reveals. The long-lasting bear market of 2018 moved market analysts to call it…
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The basket of assets backing Facebook’s Libra stablecoin needs to change for the project to be accepted by regulators, according to Switzerland’s President. The basket of assets backing Facebook’s Libra stablecoin needs to change in order for the project to be accepted by regulators, according to Switzerland’s President. “Central banks will not accept the basket…
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Some worry regulation will ruin crypto, others fear the industry will collapse without it. Who’s right, and what’s the way forward? It’s the issue that never seems to go away: regulation. Some crypto advocates insist it is good for the industry, paving the way for mainstream adoption among consumers and businesses alike. Others warn a…
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A darknet marketplace is planning a $146 million ICO, QuadrigaCX victims want Gerald Cotten’s body exhumed, and Libra has quietly updated its white paper. Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and…
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The world is inevitably becoming more and more digital, and Facebook’s digital currency dubbed Libra is a step toward this future. Since Facebook’s digital currency project, Libra, was announced in June, there has been a growing chorus of central bankers and policy makers pushing back against its ambitions. Germany’s Vice Chancellor Olaf Scholz and France’s…
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Libra white paper is quietly updated with amended Libra Association members and removal of dividends for early investors. The white paper for Facebook’s proposed Libra currency has been quietly updated, according to a Dec. 10 article written by Georgetown University law professor, Chris Brummer. Aside from expected amendments reflecting the revised Libra Association members, the…
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The central bank of France plans to pilot a central bank digital currency for financial institutions by the end of the first quarter of 2020. The central bank of France plans to pilot a central bank digital currency (CBDC) for financial institutions in 2020. François Villeroy de Galhau, the governor of the Bank of France,…
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Libra could face even more stringent requirements as U.S. lawmakers introduce a bill seeking to classify stablecoins as securities. A couple of United States lawmakers are looking to classify stablecoins as securities. With Libra considering adopting fiat-pegged stablecoins rather than a single token supported by a basket of national currencies, the proposed crypto project might…
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The CEO of Kakao said that the Klaytn blockchain developed by its subsidiary Ground X is similar in operation to Facebook’s Libra network but more advanced. Yeo Min-soo, the CEO of South Korean internet giant Kakao, said that his firm’s Klaytn blockchain is similar to Facebook’s Libra except it is way ahead in its development.…
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