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David Marcus Says Calibra Is Considering Audits to Prove Data Protections

Calibra cryptocurrency wallet CEO David Marcus spoke at the New York Times Dealbook Conference in New York City where he discussed the worldwide regulatory scrutiny the stablecoin project continues to face, among other topics. Calibra is considering an auditor for personal data practices  On Nov. 6, the co-creator of Facebook’s Libra coin had a sit-down interview with Andrew Ross Sorkin of the New York Times and CNBC.  In response to an audience member’s question about …

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Crypto News From the German-Speaking World: Nov. 3-10

The past week has marked a number of crypto- and blockchain-related developments in the German-speaking world. Malta Enterprise partnered with Deutsche Telekom’s IT service subsidiary to offer its blockchain-as-a-service (BaaS) marketplace, French IT company Atos and Austrian startup Smart Digital proposed industrial plant inspections using blockchain, and the German Federal Financial Supervisory Authority (BaFin) launched a market survey on crypto assets derivatives. Below is the past week of crypto and blockchain news in review, as …

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What Will Move Crypto Into the Institutional Realm?

Facebook recently made its entry into the world of institutional blockchain and cryptocurrency with the announcement of Libra. It garnered so much attention that lawmakers in the United States are holding hearings to review the project. Walmart has been flirting with crypto and blockchain for years. At the time of writing, the top crypto exchange handles a volume of around $50 billion, and Bitcoin (BTC) is holding steady around $8,000. This is clearly a new …

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Can Libra and Other Crypto Find a Ground to Navigate Regulation?

Bitcoin (BTC) and cryptocurrencies are causing some confusion for regulators globally. Designed usually as peer-to-peer payment platforms, cryptocurrencies seek to improve trust, security and privacy by significantly reducing or eliminating third parties. However, by connecting users directly, cryptocurrencies make regulatory oversight far more complex.  The regulatory control that most governments seek is generally related to money laundering and illegal activity. While cryptocurrency creators have no desire to foster such practices, many nevertheless hope to move …

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After 6-Hour Libra Grilling, Congress Unconvinced

On Oct. 23, Mark Zuckerberg, founder and CEO of social media platform Facebook, appeared before the U.S. House Financial Services Committee to testify on the prospective global cryptocurrency Libra, which his company is backing. He ended up enduring almost six hours of mostly critical questioning, as some of the legislators used the occasion to raise their concerns about many problematic aspects of Zuckerberg’s social media empire, even those not directly related to the cryptocurrency’s operation. …

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‘Hell No’: Jack Dorsey Says Twitter Won’t Be Joining Libra Association

Twitter will not be joining the Libra Association, according to CEO Jack Dorsey. Dorsey replied with an conclusive “Hell no” to the question of its potential membership of the Fcebook-led crypto payments scheme at a New York City-based Twitter event, The Verge reported Thursday. He explained that Libra is not based on an open standard, “born on the internet,” and as such: “It was born out of a company’s intention, and it’s not consistent with what …

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We Need Centralized Entities to Support Crypto

Zeeshan Feroz, United Kingdom CEO of Coinbase, has argued that we need centralized entities like central banks and Facebook to support the crypto ecosystem. In an interview with CNBC published on Oct. 24, Feroz said he saw two ways for cryptocurrency to go mainstream: central bank digital currency (CBDC) issuance and Facebook’s Libra. Central banks will catalyze adoption better than Silicon Valley As distinct from cryptocurrencies, a CBDC is a digital currency issued by a …

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Coinbase Generated Nearly $2 Billion in Transaction Fees Since 2012

At Vanity Fair’s New Establishment Summit, Coinbase CEO Brian Armstrong said that Coinbase has generated close to $2 billion in transaction fees since it launched in 2012. On Oct. 23, the co-founder and CEO of major United States cryptocurrency exchange and wallet provider Coinbase told Vanity Fair that technology has always been the focus of Coinbase, which, in part, is the reason why the company has remained profitable.  Coinbase has been profitable since 2017 and …

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Zuckerberg: Facebook Would Quit Libra if the Association Launched Prematurely

WASHINGTON – Facebook CEO Mark Zuckerberg told lawmakers that the company would pull out of the Libra Association in the event the consortium launched its proposed cryptocurrency without all needed regulatory approvals. In a hearing of the House Financial Services Committee Wednesday, Zuckerberg fielded pointed questions on a variety of controversial issues around the social network, from election meddling to housing discrimination to deepfakes. But Libra, the proposed price-stable cryptocurrency Facebook conceived and set up …

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How to Watch Mark Zuckerberg’s Grilling in Congress Today

Facebook CEO and founder Mark Zuckerberg will be facing a grilling from lawmakers in Congress at 14:00 UTC (10 a.m. local time) today. In his testimony before the House of Representatives Financial Services Committee, Zuckerberg has already revealed he will addressing the Libra cryptocurrency project and other issues facing the social media giant more widely. However, there’s much that is unknown, as Zuckerberg will also be facing questions from the committee’s 60 members for the hearing, …

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