Scams

When Wider Economy Struggles Cryptocurrency Will Be Used To Move Value

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The crash of the cryptocurrency
did not put an end to the blockchain.  In
the current scenario, the opportunities for blockchain are filled with
incredible possibilities. All industries are looking to leverage the blockchain
technology, whether it be finance, artificial intelligence, finance, or energy.

The IMF had recently stated that
American Economic Expansion is in the face of “unsustainable debt
dynamics” A bear market is surely coming for the USD; however, it is only
about when it is happening.

When fiat currencies falter,
people will turn towards blockchain technology to transfer value across
borders.  When the more extensive economy
struggles, cryptocurrency will be used to move the amount.

E-sports is considered to be one
area which will legitimately accept the blockchain technology. Multiplayer
systems are expected to take advantage of cryptocurrency payment systems. However,
it has been widely seen that the gaming industry has already adopted it to a
greater extent, particularly the blockchain technology.

The US is
currently following a “wait and see” regulatory approach.  Regulators want to crack down on the scam
cryptocurrency projects. They were not interested in standing in the way of the
progress of the blockchain technology though. 
Lawmakers are maintaining their distance as they do not want to make the
wrong move.

While
governments will have little to do with cryptocurrency, they will have a lot to
do with stable coins.  Each government
will want to have a stable coin. Investors who do not want to completely trust
liberated currencies like Bitcoin will want to invest in stable coins.

Blockchain
technology is too diverse, and it is more than just a cryptocurrency.  The changes brought about by the blockchain
technology are a guaranteed happening. 
However, with cryptocurrency, we need to see how the vast majority are
reacting towards its acceptance.

In the past
couple of years, Wyoming enacted nearly 13 blockchain laws, and a raft of
proposals are on their way.

Tyler
Lindholm, a state representative, stated, “It’s been good for Wyoming that the
federal government has been proving its stripes of incompetency.”

Facebook has
been recently talking to several companies in a task related to crypto payment
systems.  The company is as well working
with regulators to ensure that they do not get into issues with regulations.

Facebook is
expected to leverage a “tax data honeypot” for many governments to
establish a regulatory border for executing its crypto payment system.  The power of the corporate in the context of
money is heating debates.


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Facebook Stresses Libra’s Compliance With FinCEN at Senate Hearing

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David Marcus, head of Facebook’s crypto wallet Calibra, stressed Facebook’s intent to be compliant with the United States Financial Crimes Enforcement Network (FinCEN) in distributing the Libra stablecoin. As a Cointelegraph correspondent reports on July 16, Marcus delivered his comments at the ongoing hearing on Facebook’s Libra with the Banking Committee of the U.S. Senate.

Addressing the issues of money laundering and terrorism financing, Senator Cortez Mastro asked Marcus how Facebook is going to ensure that the platform is not being used for such purposes. Marcus responded that “this is something that I care about deeply, personally.” Marcus added that the company will have an Anti-Money Laundering program, reiterating Facebook’s commitment to FinCEN.

Marcus stated that “Calibra will be affordable and accessible and also safe and secure” and will comply with FinCEN and state regulation. According to Marcus, Libra Corporation will still register with FinCEN despite the…



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Altcoin

R3 to Support a Startup-Focused Stock Exchange in Brazil

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Blockchain consortium R3 has partnered with Brazilian fintech company Banco Maré to launch a stock exchange for investing in technology firms.

Banco Maré, a blockchain-powered digital bank focused on financial inclusion, intends to build a tokenized stock exchange offering investments in technology companies with “social impact,” Cointelegraph Brazil reports July 16.

The new R3 technology-backed platform, provisionally named BVM12, will purportedly open a new funding source for technology startups, as well as enable individual investors to generate dividends from investments in new technologies, the report notes.

Rio de Janeiro-based Banco Maré has reportedly conducted its first informal consultations with the Brazilian Securities and Exchange Commission, and is reportedly planning to make an official request to the agency in August 2019.

Banco Maré CEO Alexander Albuquerque claimed that the new venture aims to democratize risky investment and bring the low-income public to the stock market.

Earlier in June, Cointelegraph reported that the…



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Altcoin

Is There a Future for Privacy Coins in the United States? » The Merkle Hash

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Cryptocurrencies which provides users with privacy and anonymity are often looked down upon by politicians and other officials. Especially in the US, privacy coins such as Monero and ZCash might face an uphill battle in the future. The most recent White House press conference only confirms these currencies are designed for criminals and no one else. 

The Stigmas Remain

For quite some time now, the term “privacy coins” is associated with illegal activity on the internet and in the real world. This is primarily because of the privacy and anonymity features these currencies tend to provide to its users. In the case of Monero, for example, it is impossible to determine who owns how many coins, or who is sending and receiving transactions. This makes it a thorn in the side of government officials and financial experts, as they only see the negative side of this…



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Bitcoin

‘I like bitcoin,’ says House GOP leader McCarthy, hits Facebook Libra

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House Minority Leader Kevin McCarthy told CNBC on Tuesday that he likes the decentralized nature and the security of bitcoin.

“I like bitcoin” and the security of the blockchain ledger technology behind cryptocurrencies, the California Republican said, as he criticized Facebook’s plans for a Libra digital coin ahead of hearings on Capitol Hill this week.

Libra will be pegged to a basket of government-backed money, compared with bitcoin, which is highly volatile in price and derives value from factors including its ability to enable instantaneous, anonymous, global payments and as an investment.

Nobody controls bitcoin.

McCarthy did, however, say that bitcoin is not where it needs to be yet, alluding to the risks of cryptocurrencies being used by criminals and money launderers.

While Libra promises more stability, McCarthy remains concerned.

“When I’m on Facebook, I’m not the customer, I’m the product,” he said. “Facebook is free because…



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Ethereum

Waves CEO Sells His Stake in Blockchain Spin-Off Vostok

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Founder of token issuance platform Waves has fully sold his stake in the firm’s blockchain spin-off Vostok to focus on the Waves Platform.

Alexander Ivanov, CEO and founder of Waves, sold his stake in the Vostok, with global financial group GHP Group becoming the sole owner of the project, according to a press release on July 16.

Ivanov said that he decided to sell the Vostok project in order to focus the resources on the development of the Web3 ecosystem within the Waves Platform.

Mark Garber, Chairman of the Board of Directors of GHP Group and one of the early Vostok investors, said that the existing progress in the project will help GHP Group’s to increase its level of technological expertise. 

The well-known entrepreneur in the Russian investment community noted that GHP Group will continue to build the project while the firm also plans to integrate the Vostok’s technology…



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