Zuckerberg: Facebook Would Leave Libra if It Launched Too Early
Facebook will have to withdraw from the Libra Association if Libra is launched too early, Zuckerberg says Go to Source Powered by WPeMatico
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How Fiat Money Fails: Deconstructing the Government’s Paper-Thin Promise
Fiat money has a surprisingly short lifespan. The almighty U.S. dollar currently serving as world reserve currency is not exempted, in spite of all proclamation that it cannot fail. Throughout history, fiat money has failed over and over again, where sound assets like gold have survived. Ruling out acts of god and unforeseen circumstance, the … Read more
Updating Live: Zuckerberg Hearings Before Congress on Libra
Cointelegraph brings you live updates from the congressional hearings with Mark Zuckerberg Go to Source Powered by WPeMatico
US Congressman: Default Reaction to Bitcoin, Blockchain Must Be ‘Yes’
U.S. Congressman Patrick McHenry, who represents North Carolina’s 10th District, has reintroduced the Financial Services Innovation Act to promote crypto innovation Go to Source Powered by WPeMatico
Bank Crisis Spreads in India – Deaths, Strike, Supreme Court Denial
The Indian banking sector is facing multiple challenges. Customers of several cooperative banks are still struggling to withdraw their money, and deaths have been reported in connection with withdrawal restrictions. Meanwhile, some 300,000 state-run bank employees are on strike against what the bank unions call “cold-blooded murder of six banks.” Also read: Indian Finance Minister … Read more
Zuckerberg: Facebook Will Not Launch Libra Without US Approval
Mark Zuckerberg plans to assure Congress that Libra will not launch until all U.S. regulators’ concerns are addressed Go to Source Powered by WPeMatico
Germany Warns of Privacy Token Usage in Money Laundering and Terrorism
German Finance Ministry urges oversight over the development of privacy tokens to prevent illicit usage Go to Source Powered by WPeMatico
UK Gov’t: FCA Will Make Final Decision on Banning Crypto Derivatives
The U.K. government has stressed that is up to the “operationally independent” financial regulator, not the executive, to decide on a proposed crypto derivatives ban Go to Source Powered by WPeMatico
Silk Road Prosecutor: 99.9% of Fiat Money Laundering Goes Unprosecuted
“The financial services industry is spending $20 billion a year on AML and KYC. So I would ask you: is it even working? I don’t think it’s working” Go to Source Powered by WPeMatico
Bad for Business: How KYC/AML Makes Everyone a ‘Terrorist’
Two reports from risk solutions group Lexisnexis assert that anti-money laundering (AML) and know your customer (KYC) policies can negatively affect a business’s bottom line and customer service significantly. A recent trip to the local post office for a money order certainly had a negative effect on my own experience, thanks to the same regulations, … Read more