Zuckerberg to Tell Congress That Libra will ‘Extend America’s Financial Leadership’
Oct22

Zuckerberg to Tell Congress That Libra will ‘Extend America’s Financial Leadership’

Facebook CEO Mark Zuckerberg reportedly plans to tell Congress that his proposed Libra digital currency payment system will expand the United States’ financial leadership around the globe, CNBC reports. Zuckerberg is expected to provide testimony before the House Financial Services Committee tomorrow.

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Telegram Asks Court to Deny SEC’s Gram-Related Injunction
Oct17

Telegram Asks Court to Deny SEC’s Gram-Related Injunction

On Wednesday, Telegram responded to the Securities and Exchange Commission’s October 11 emergency action seeking a preliminary injunction against the company and its Gram digital token. In an October 16 court filing, the company asked the federal court to reject the SEC’s preliminary injunction request, arguing that the action could be “misconstrued” by the public, Telegram’s customers, and investors:

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SEC Announces Emergency Action Against Telegram, TON
Oct13

SEC Announces Emergency Action Against Telegram, TON

The United States Securities and Exchange Commission announced Friday that it has obtained a temporary restraining order against Telegram Group and its subsidiary TON Issuer. In a press release, the SEC said that the complaint alleges that Telegram and TON Issuer have been conducting an ongoing, unregistered digital token offering in violation of Securities Act registration provisions.

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Russian Central Bank: No Obvious Need for National Digital Currency
Oct10

Russian Central Bank: No Obvious Need for National Digital Currency

Bank of Russia chair Elvira Nabiullina downplayed any possibility that the central bank might issue its own national digital currency, noting that there was no obvious need to do so, Tass reports. Nabiullina made the remarks during this week’s Finopolus forum on innovative fintech in Sochi, Russia.

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FCA Investigations of Crypto Companies Up 74% from 2018
Oct07

FCA Investigations of Crypto Companies Up 74% from 2018

The Financial Conduct Authority (FCA), the regulatory agency responsible for overseeing the UK financial industry, has dramatically increased its scrutiny of cryptocurrency-related businesses over the last year, the Financial Times reports.

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SEC Announces Settlement with Block One for Unregistered ICO
Sep30

SEC Announces Settlement with Block One for Unregistered ICO

The U.S. Securities and Exchange Commission announced on Monday that it has reached a settlement with Block One to address the company’s unregistered initial coin offering for its EOS project. The firm reportedly raised $4 billion in an ICO conducted from June 2017 until June 2018. Block One agreed to pay a monetary penalty of $24 million.

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Libra Association Head Says Token Launch Could Be Delayed as Regulatory Concerns are Addressed
Sep29

Libra Association Head Says Token Launch Could Be Delayed as Regulatory Concerns are Addressed

When Facebook announced its Libra digital currency project several months ago, the company expected to launch its Libra token in June 2020. According to Libra Association managing director Bertrand Perez, however, that launch could be delayed as the project’s backers work to allay regulators’ concerns.

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Bakkt Launches Bitcoin Futures Trading
Sep23

Bakkt Launches Bitcoin Futures Trading

The Intercontinental Exchange’s Bakkt bitcoin futures trading officially launched on Sunday, with the first physically-deliverable bitcoin futures trade executed at a price of $10,115, according to a tweet from Bakkt. According to reports, trading was relatively slow, with only five contracts traded in the first hour and a little more than two-dozen completed within the next ten hours.

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Sept. 24 House Hearing with SEC to Include Focus on Cryptocurrency
Sep22

Sept. 24 House Hearing with SEC to Include Focus on Cryptocurrency

The U.S. House of Representatives Committee on Financial Services will be conducting an oversight hearing with the Securities and Exchange Commission on September 24, 2019. The “Oversight of the Securities and Exchange Commission: Wall Street’s Cop on the Beat” hearing will include a focus on cryptocurrency-related issues, according to a September 19 memorandum published by the committee.

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SEC Chair: Bitcoin Needs Regulation Before It Can Trade on Major Exchanges
Sep19

SEC Chair: Bitcoin Needs Regulation Before It Can Trade on Major Exchanges

Securities and Exchange Commission Chairman Jay Clayton said Thursday that bitcoin will need to be more regulated before it can be traded on any major exchange, CNBC reports. Clayton made the remarks at the Delivering Alpha conference, where he was the featured opening speaker.

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Calibra CEO Argues that Libra Poses No Threat to Nations’ Monetary Sovereignty
Sep16

Calibra CEO Argues that Libra Poses No Threat to Nations’ Monetary Sovereignty

On Monday, The Bank for International Settlements hosted a meeting in Basel, Switzerland to discuss the issue of stablecoins like those proposed by Facebook and J.P. Morgan. After the meeting, Calibra CEO David Marcus took to Twitter to try to allay any concerns policymakers might have about Libra’s potential for threatening the monetary sovereignty of the modern nation-state.

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US Treasury Announces Sanctions Targeting North Korean Cyber Attack Groups
Sep15

US Treasury Announces Sanctions Targeting North Korean Cyber Attack Groups

On Friday, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced new sanctions against three North Korean cyber groups believed to be responsible for cyber-attacks on financial institutions, cryptocurrency exchanges, and other critical infrastructure.

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French Finance Minister Wants to Block Libra in Europe
Sep14

French Finance Minister Wants to Block Libra in Europe

French Finance Minister Bruno Le Maire warned that his country wants to prevent Facebook Libra development in the European Union due to concerns about its risk to national governments’ ‘monetary sovereignty’ and potential abuse, the BBC reports. Le Maire made the comments during a Paris meeting of the Organization for Economic Co-operation and Development.

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Circle CEO Says China’s CBDC Could Help ‘Internationalize’ Yuan
Sep13

Circle CEO Says China’s CBDC Could Help ‘Internationalize’ Yuan

The People’s Bank of China (PBOC) has suggested that its plans to launch its own digital currency are primarily motivated by a desire to protect its foreign exchange sovereignty. However, Circle CEO Jeremy Allaire believes that the move could also help promote broader use of China’s currency around the world.

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Marshall Islands Pushing Forward with Digital Currency Plans
Sep12

Marshall Islands Pushing Forward with Digital Currency Plans

The Marshall Islands is moving forward with its plans to develop a blockchain-based national digital currency that the government hopes will reduce reliance on the U.S. dollar, Bloomberg reported on Wednesday. When launched, the Marshallese sovereign (SOV) is expected to be recognized as the island nation’s legal tender.

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Blockstack Raises $23 Million in First SEC-Approved Token Offering
Sep11

Blockstack Raises $23 Million in First SEC-Approved Token Offering

Blockstack has announced that its SEC-approved token offering closed on September 9, after raising a total of $23 million. Blockstack co-founder and CEO Muneeb Ali announced the news in a recent blog post that thanked the thousands of investors who participated in the sale:

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Treasury Official: Libra Must Comply with US AML/CTF Regulations
Sep10

Treasury Official: Libra Must Comply with US AML/CTF Regulations

If Facebook’s Libra project expects to operate within the United States, it will need to do so in full compliance with U.S. anti-money laundering and counter-terror financing regulations, according to U.S. Under Secretary of Terrorism and Financial Intelligence Sigal Mandelker.

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Report: Burundi Bans Cryptocurrency Trading
Sep06

Report: Burundi Bans Cryptocurrency Trading

The Bank of the Republic of Burundi has banned cryptocurrency trading in the country, according to a recent Bloomberg report. The central bank’s decision was in response to public requests to intervene from citizens who suffered losses from digital currency trading.

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Dutch Central Bank to Begin Crypto Regulation on January 10
Sep03

Dutch Central Bank to Begin Crypto Regulation on January 10

The Netherlands central bank, De Nederlandsche Bank, announced Tuesday that it will start regulating cryptocurrency services on January 10, 2020, Reuters reports. According to the central bank’s statement announcing the news, digital asset companies in the Netherlands will need to register to do business in the country:

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SEC Announces Settlement with Dallas-Based Crypto Firm Accused of Defrauding Investors
Aug31

SEC Announces Settlement with Dallas-Based Crypto Firm Accused of Defrauding Investors

The U.S. Securities and Exchange Commission announced this week that it has reached a settlement with Dallas-based cryptocurrency firm Bitqyck Inc. In a press release, the SEC said that the company and its founders has defrauded investors who purchased its digital assets. The defendants were also accused of operating an unregistered exchange.

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