Regulation


U.S. Senator Sherrod Brown: Facebook is delusional
“Mark Zuckerberg has said that Facebook is more like a government than a company. That’s delusional.” U.S. Senator Sherrod Brown said in a video tweet by NowThis News.
U.S. Treasury Secretary: Cryptocurrencies are Dominated by Illicit Activities
“I think to a large extent, these cryptocurrencies have been dominated by illicit activities and speculation.” The United States Treasury Secretary Steven Mnuchin said at a press conference on 15 July.
Keep Big Tech out of Finance? Draft Billed Surfaced Ahead of Libra Hearings
The drafted bill entitled “Keep Big Tech out of Finance” has appeared online ahead of Facebook’s hearing on 16 and 17 July. The bill is allegedly circulating among The United States House of Representatives Financial Services Committee, as revealed by media outlet The BLOCK on 13 July.
US SEC Approved the First-Ever Token Offering In History
The United States Securities and Exchange Commission (SEC) approved the first token offering to blockchain-based startup Blockstack under the SEC Regulation A+, as revealed in the company’s announcement. Blockstack will start its SEC-approved token sale of USD 28 mn today.
The IRS Plans to Require Tech Giants Provide User Crypto Activity
The United States’ Internal Revenue Service (IRS) is allegedly planning to require corporate giants such as Apple, Google and Microsoft to provide the taxpayer’s download history of cryptocurrency applications, as revealed in the tweet and reportedly the presentation from IRS on 9 July.
US SEC and FINRA Issued Latest Custody Guidance on Digital Assets Securities
The United States Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) issued a statement addressing regulatory issues regarding the custody of digital asset securities on 8 July.
ECB Coeure: Facebook’ Libra is Too Dangerous in the Regulatory Void!
The European Central Bank Executive Board member Benoit Coeure urged the financial regulators to take prompt actions regarding the advent of Facebook’s Libra coin, as reported by Bloomberg on 7 July.
US Congress and Over 30 Organizations Requested Moratorium on Facebook’s Libra
The United States House of Representatives Committee on Financial Services issued a letter to request Facebook to stop developing Libra stablecoin and Calibra wallet.
G20 Leaders: Crypto-assets can bring Significant Benefit to the Financial System
The G20 leaders agreed that crypto-assets can bring significant benefit to the financial system and the broader economy, according to the “G20 Osaka Leaders’ Declaration” released following the 2019 G20 summit in Osaka on 28 - 29 June.
Facebook Libra: The Latest Crypto Used in Illegal Financial Activities?
“With the evolution of virtual currencies and new marketplaces, nefarious actors are continuously adapting to find new ways to engage in illegal financial activity.” said U.S. Representatives Emanuel Cleaver, during the briefing with Financial Crimes Enforcement Network (FinCEN) on 27 June.

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