Blockchain 

House Financial Services Committee Will Continue Libra Review

Representative Maxine Waters, chair of the United States House of Representatives’ Financial Services Committee, says the committee will continue to review Facebook’s proposed cryptocurrency Libra and the corresponding digital wallet Calibra. A priority for autumn 2019 Waters announced the committee’s priorities for fall 2019 on Aug. 23. According to the statement, the committee plans to receive the testimony and opinions from governmental officials and regulators.  Specifically, Waters lists Treasury Secretary Mnuchin, Consumer Financial Protection Bureau Director Kraninger, Federal Housing Finance Agency Director Calabria and Federal Reserve Vice Chairman Quarles. Waters…

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Blockchain 

Bithumb Exchange to Launch Cryptocurrency Listing Committee

South Korean crypto exchange Bithumb will launch a new committee in September that will determine which cryptocurrencies can be traded on its platform. A monthly check by experts South Korean news daily Yonhap News reported the formation of Bithumb’s new committee on Aug. 22. The committee, entitled the Listing Eligibility Deliberation Committee, will review the exchange’s listings once a month, per the report.  The committee will reportedly take into consideration daily trading volume, change in base market capitalization and project support among other factors. Cryptocurrencies that fail to meet the…

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Ethereum 

Ranking Senate Committee Members Discuss Regulations

United States Senators Mike Crapo and Sherrod Brown, respectively the Senate Banking Committee chair and ranking member, shared their views on crypto regulations. Both appear to want comprehensive policy for big tech companies. The senators made their remarks while speaking with the press following the Senate Banking Hearing on Facebook’s Libra on July 16. Senator Crapo stressed the importance of building an overarching regulatory framework for data protection — not just for Facebook, but for all Internet companies looking to launch their own cryptocurrencies, á la the Financial Stability Oversight…

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Blockchain 

US Senate Committee Approves the Blockchain Promotion Act

The United States Senate committee of commerce, science and transportation approved the Blockchain Promotion Act on Tuesday, tech news outlet CNET reports on July 11. The bill, published by the outlet, moves the U.S. closer to a blockchain definition at the federal level and establishes a blockchain working group within the Department of Commerce. Members of the working group should be representatives of federal agencies that could use blockchain and non-governmental stakeholders. Non-governmental participants will include information and communication technology manufacturers, suppliers, software providers, service providers, vendors, and experts. Within…

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Ethereum 

Senate Banking Committee Sets Hearing on Facebook’s Crypto for July 16

The Banking Committee of the United States Senate will hear testimony on Facebook’s Libra cryptocurrency project on July 16, economic news site MarketWatch reports on June 19. The social media giant released the white paper for its Libra token yesterday.  The stablecoin, will operate on a native eponymous blockchain, and will be backed by a basket of reserve assets “designed to give it intrinsic value” and mitigate volatility fluctuations.   Following the release of the project, U.S. regulators expressed their concern about the project’s possible effects on financial stability. Rep.…

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Bitcoin 

Chair of House Financial Services Committee Requests Halt on Facebook’s Crypto Project

Disclaimer: this story is breaking and will be subject to updates. Rep. Maxine Waters, chairwoman of the United States House of Representatives’ Financial Services Committee is requesting that Facebook halt development on its cryptocurrency, the Libra, as reported by CNN Tech Reporter Brian Fung in a series of tweets June 18. In her statement, Rep. Waters explained: “Given the company’s troubled past, I am requesting that Facebook agree to a moratorium on any movement forward on developing a cryptocurrency until Congress and regulators have the opportunity to examine these issues and…

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Bitcoin 

Brazil Establishes Committee for Cryptocurrency Regulation

The President of the Chamber of Deputies of Brazil has ordered to establish a commission to consider cryptocurrency regulation in the country, Cointelegraph Brasil reported on May 31. The Chamber of Deputies of Brazil is a federal legislative body and the lower house of the National Congress of Brazil, and consists of representatives of the states elected every four years. The Chamber discusses and approves proposals for economic and social areas such as education, health, transport, and housing. On May 30, the President of the Chamber of Deputies, Deputy Rodrigo…

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Blockchain 

Coinbase Files to Close Its Political Action Committee

Major United States-based cryptocurrency exchange Coinbase has filed to close its political action committee (PAC) on April 3. According to a filing with the Federal Election Commission (FEC) — the regulatory agency in charge of enforcing election laws — Coinbase’s PAC received no funds nor made any disbursements, and is seeking to terminate the PAC. Per FEC regulations, a PAC must file a termination report in order to cease operations once it no longer intends to make or receive contributions or expenditures.   In the U.S., PACs are independent organizations,…

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Bitcoin 

CFTC Technology Advisory Committee Discusses Crypto Regulation and DLT Adoption

The Technology Advisory Committee of the United States Commodity Futures Trading Commission (CFTC) discussed crypto regulation and distributed ledger technology (DLT) adoption during a meeting on Wednesday, March 27. The committee discussed various reports on cryptocurrencies and DLT. The first was presented by Peter Van Valkenburgh, Director of Research at Coin Center, who spoke on various consensus mechanisms. Referring to this topic, CFTC Commissioner Brian Quintenz said in his opening statement that Ethereum’s plan to shift from a proof-of-work (PoW) to proof-of-stake (PoS) consensus raises important regulatory questions, including the…

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Bitcoin 

Bitmain IPO Filing Set to Imminently Expire in Absence of HKEx Committee Hearing

Chinese crypto mining giant Bitmain’s filing to list its initial public offering (IPO) on the Hong Kong Stock Exchange (HKEx) will seemingly reach the end of its six-month expiration window today, as a crypto community member has noted in a tweet posted on March 25. As the South China Morning Post has previously outlined, HKEx listing rules provide a six-month window for a given application to proceed to a closed-door hearing before its Listing Committee. The Committee is tasked with giving the final approval or disapproval of the offering; should…

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