Politics

SEC to Talk Crypto at U.S. Congress Hearing

SEC to Talk Crypto at U.S. Congress Hearing

  • The Committee on Financial Services will be holding a hearing, called "Oversight of the Securities and Exchange Commission: Wall Street’s Cop on the Beat", on 24 September.
  • It will cover topics such as the SEC's actions in regards to public company disclosures, enforcement, fiduciary responsibilities, and the cryptocurrency space.
VanEck, SolidX Bitcoin ETF Proposal Withdrawn From SEC Review

VanEck, SolidX Bitcoin ETF Proposal Withdrawn From SEC Review

  • This is the second time the companies have withdrawn the ETF proposal, this time a month before the SEC's deadline.
  • Weeks before, the two companies began offering limited Bitcoin ETFs to qualified institutional buyers under Rule 144A exemption.
Libra to be Licensed as a Payment System in Switzerland

Libra to be Licensed as a Payment System in Switzerland

  • FINMA is adamant that the services planned by the Libra project would clearly go beyond those of a pure payment system.
  • The requirements that Libra needs to pass would relate in particular to capital allocation, risk concentration and liquidity.
France to Block Facebook's Libra in Europe

France Wants to Block Facebook’s Libra in Europe

  • The French Economy and Finance Minister, Bruno Le Maire, said that Libra could pose a threat to the sovereignty of national currencies.
  • Le Maire also reportedly said that Facebook's Libra may eventually "substitute itself as a national currency", which could lead to financial disruption.
Facebook Strengthens its Libra Lobbyist's Team

Facebook Strengthens its Libra Lobbyist Team, Washington Influence

  • Lobbying disclosures filed last week have revealed that Facebook has hired two more lobbyists to help Libra.
  • The two lobbyists in question are William Hollier and Michael Williams.
U.S. Regulators Still Worried About Libra After Switzerland Visit

U.S. Regulators Still Worried About Libra After Switzerland Visit

  • Rep. Maxine Waters has said that her meeting with multiple regulatory agencies and lawmakers did not alleviate her concerns.
  • The House Financial Services Committee planned schedule for fall 2019 includes a pledge to continue the review of Libra and the wallet service Calibra.
U.S. Treasury Blacklists Cryptocurrency Addresses of Drug Traffickers

U.S. Treasury Blacklists Cryptocurrency Addresses of Drug Traffickers

  • Three Chinese nationals and a number of Bitcoin addresses have been added to the U.S. SDN list for drug trafficking.
  • Individuals added to the list could face $1.1 million fine per violation, a $5 million criminal penalties fine, and up to 30 years in prison.
A view of Zurich

Maxine Waters Will Lead a U.S. Delegation in Switzerland to Discuss Facebook’s Libra

  • The delegation will meet with Switzerland's Federal Data Protection and Information Commissioner, Adrian Lobsiger to discuss Facebook's project.
  • It is led by Maxine Waters, one of the Libra's most outspoken critics.
Receiving Salaries in Crypto is Now Legal in New Zealand

Receiving Salaries in Crypto is Now Legal in New Zealand

  • The new ruling states that employees' salaries can be paid in crypto assets if they form part of their regular earnings.
  • The crypto assets used for salaries must be exchangeable for fiat currencies and will be treated as a Pay As You Earn (PAYE) income.
New Jersey’s Blockchain Initiative Signed by the Governor and Turned Into a Law

New Jersey’s Blockchain Initiative Signed by the Governor and Turned Into a Law

  • The legislation aims to strengthen the state’s innovation economy, as stated by officials.
  • The Task Force will consist of 14 members and will have 180 days to present a study to the governor.