Unibright, Chainlink and Anyblock Analytics join forces to form new…

13m
cryptonewmedia

After Stellar Quarter, Apple Boldly Predicts Growth Amid Coronavirus Outbreak

15m
cryptonewmedia

Bitcoin Cracks $9,400 to Reach Nearly 3-Month High in ‘Asia-Driven Rally’

16m
cryptonewmedia

Tron (TRX) Soars Over 8% A Day Setting Bulls Target At $0.02000

22m
coingape

India: National Blockchain Policy Stakeholders Emphasize the Importance of DLT Regulations

1h
cryptonewmedia

Crypto Markets on Verge of Parabolic Breakout as Bitcoin Sets Fresh 2020 High

1h
cryptonewmedia

Buy the Pump, Sell the Dump — Does Momentum Investing Work in Bitcoin?

1h
cointelegraph

Lawyers Ramp Up Pressure to Exhume Quadriga CEO’s Body

1h
cryptonewmedia

Traditionally Blue State New Jersey Is Booming for President Trump

1h
cryptonewmedia

Blockcrunch: Ex Goldman Sachs Partner’s Crypto 2020 Outlook…

1h
cryptonewmedia

How CEOs, experts and philosophers see the world’s biggest risks differently

2h
bitcoinwarrior

Don Lemon’s Contempt for Trump Voters Is 2020’s…

2h
cryptonewmedia

Sally Ho's Technical Analysis 29 January 2020 BTC ETH

2h
cryptodaily

Paris Saint-Germain F.C. Launches Crypto Voting Scheme For Fans

2h
bitcoinist

Aussie blockchain developer Labrys joins BlockApps Partner Network » CryptoNinjas

2h
cryptonewmedia

Singapore’s Payment Services Act Creates new Opportunities for Cryptocurrencies

2h
nulltx

Bitcoin Just Surged to $9,400: Why Traders Think Price Will Explode...

2h
newsbtc

Kik Adviser to Face Deposition From SEC This Week

2h
cryptocurrencynews

Why This EEA Development Could be the Key to Corporate Ethereum Adoption

2h
cryptonewmedia

Cardano Inches to Smart Contract Implementation with New Paper

2h
cointelegraph

Crypto-Related Deposits Drop by Half at Metropolitan Commercial Bank

2h
cryptonewmedia

Bitcoin Back to Acting Like Gold and Less Like Stocks

2h
beincrypto

These Factors Suggest XRP Could See a Parabolic Rally Towards All-Time Highs

2h
cryptonewmedia

Blockcrunch: Ex Goldman Sachs Partner's Crypto 2020 Outlook - Kelvin Koh, Spartan Capital, Ep. 85

3h
letstalkbitcoin

Canadian Mining Firm Publicly Rejects Bitcoin Cash Tax Plan

3h
bitcoinist


US Senate Grills Facebook’s Crypto Chief As JP Morgan Chase Dismisses Threat From Libra

dailyhodl

6mon ago

Libra’s David Marcus just faced the US Senate in the first of two consecutive hearings where lawmakers grilled him about Facebook’s foray into the financial services industry as well as the company’s tarnished past with respect to user data and Russian interference in the 2016 US presidential election.

Marcus was also questioned on how the social networking giant would handle a transaction using Libra that was executed by an individual from a sanctioned country.

While Marcus assured the panel that Libra will be registered with the Financial Crimes Enforcement Network (FinCEN) and will uphold its anti-money laundering standards, he gave less than a direct response when asked if Facebook’s platform would freeze the assets of a sanctioned individual.

According to Marcus,

“It would be the role of the custodial wallets to block access to funds for those addresses.”

The Facebook hearing highlights the fact that corporations issuing digital assets lack the censorship-resistance of decentralized cryptocurrencies such as Bitcoin which do not operate under the auspices of a government or centralized authority.

Meanwhile, CEO of JP Morgan Chase Jamie Dimon says he doesn’t see Facebook’s Libra project as a near-term threat. During a conference call with analysts, Dimon dismissed the notion that Facebook could build a new blockchain-based global financial structure that would challenge the status quo, reports CNBC.

Says Dimon,

“To put it in perspective, we’ve been talking about blockchain for seven years and very little has happened. We’re going to be talking about Libra three years from now. I wouldn’t spend too much time on it.”

Dimon, who leads the largest bank in the US, is currently developing JPM Coin, a corporate digital currency that is pegged to the US dollar and designed to leverage blockchain technology to settle transactions quickly.

Regarding any copyrights issue, please contact us:content@hashbee.com.

0 comments