Reuters: House Dems Circulate Draft Bill That Would Prevent Tech Giants from Issuing Cryptocurrencies
Jul15

Reuters: House Dems Circulate Draft Bill That Would Prevent Tech Giants from Issuing Cryptocurrencies

Even as Facebook officials testify before Congress this week, House Democrats have apparently been circulating a draft legislative proposal that would bar big technology firms from creating their own digital currencies or offering financial services without a bank license. Reuters reportedly reviewed a copy of the bill and notes that it proposes a $1 million per day fine for companies that violate the prohibitions.

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Korean Firms Partner to Launch Blockchain-Based Mobile ID
Jul14

Korean Firms Partner to Launch Blockchain-Based Mobile ID

A group of seven South Korean companies are partnering in an effort to create a blockchain-based mobile identification system, the Korea Times reports. According to the Times’ industry sources, the plan is to launch the new mobile ID next year.

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Senate Committee Approves Blockchain Promotion Act
Jul13

Senate Committee Approves Blockchain Promotion Act

The Senate Commerce, Science and Transportation Committee approved the Blockchain Promotion Act this week. If it becomes law, the Act would direct the U.S. Department of Commerce to create a working group to establish a consensus definition for the technology and make recommendations to study its potential for improving government efficiency.

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Prominent Crypto Advocates Say Trump’s Criticism of Cryptocurrency is a Positive
Jul12

Prominent Crypto Advocates Say Trump’s Criticism of Cryptocurrency is a Positive

While some cryptocurrency fans may have been dismayed to see U.S. President Donald Trump criticize Bitcoin and other cryptocurrencies yesterday, leading advocates like Coinbase CEO Brian Armstrong and Fundstrat’s Tom Lee appear to disagree. Both men highlighted the benefits of having one of the world’s most high-profile personalities talking about the technology.

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Winklevoss Twins: Other Tech Firms Likely to Launch Their Own Cryptocurrencies
Jul11

Winklevoss Twins: Other Tech Firms Likely to Launch Their Own Cryptocurrencies

In a Tuesday interview with CNBC, Cameron and Tyler Winklevoss predicted that Facebook won’t be the only technology giant to launch a cryptocurrency project. In fact, they believe that a number of major tech firms will be involved with their own cryptocurrencies soon. According to Tyler:

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