Regulation

VanEck, SolidX Bitcoin ETF Proposal Withdrawn From SEC Review

VanEck, SolidX Bitcoin ETF Proposal Withdrawn From SEC Review

  • This is the second time the companies have withdrawn the ETF proposal, this time a month before the SEC's deadline.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.
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.
U.S. Government Asked For Fair Crypto Regulations in an Open Letter From Ripple

U.S. Government Asked For Fair Crypto Regulations in an Open Letter From Ripple

  • Ripple has signed an open letter to U.S. regulators ahead of a fresh Senate debate on crypto and blockchain regulations.
  • There is a scheduled hearing for July 30 called “Examining Regulatory Frameworks for Digital Currencies and Blockchain”.
U.S. Senate to Hold Hearing on Crypto and Blockchain Regulatory Frameworks

U.S. Senate to Hold Hearing on Crypto and Blockchain Regulatory Frameworks

  • Following last week's hearing on Facebook's Libra project, the Senate Banking Committee has scheduled the crypto and blockchain regulatory frameworks hearing for July 30.
  • The list of witnesses includes Jeremy Allaire, CEO of Circle, Mehrsa Baradaran, and Rebecca Nelson.
Brooklyn Bridge and the Manhattan skyline

New York State Department of Financial Services Announces a New Research and Innovation Division

  • The new division will be responsible for assessing the novel technology and granting licenses.
  • For now there are no hints about the willingness of the new structure to deregulate the industry.
The Blockchain Promotion Act has been Approved by the U.S. Senate Committee

The Blockchain Promotion Act has been Approved by the U.S. Senate Committee

  • The Blockchain Promotion Act is a bipartisan legislation that will direct the Department of Commerce (DoC) to come up with a definition of blockchain at the federal level.
  • It will also establish a blockchain working group within the DoC.