Blockchain 

Bitcoin Could Rebound if Facebook’s Libra Hearing Goes Well

2019 has been an excellent year for Bitcoin (BTC) after the poor year in 2018 had instigated many to write off the cryptocurrency, and by extension, the crypto space altogether. The cryptocurrency went on a highly impressive run this year and almost replicated the sort of rally that it had enjoyed back in 2017. However, the past few weeks have not been particularly great for a variety of reasons, but the biggest issue is the one related to Facebook’s cryptocurrency Libra. The company’s plans to launch its own cryptocurrency at…

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Blockchain 

Facebook’s Digital Coin Libra Faces Extreme Criticism

Libra, Facebook’s cryptocurrency to be launched as a payment service provider, requires close examination. According to a senior official at Britain’s financial watchdog, this new coin project requires deep scrutiny as it raises questions both on social and legal grounds. Facebook unveiled its Libra digital coin last month as a platform that will let one buy things or send money to people with nearly zero fees. Regulators Have Doubts About Libra One would pseudonymously buy or cash out their Libra online or at local exchange points like grocery stores. However, soon…

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Blockchain 

China’s Cryptocurrency | A Response to Facebook’s Libra Coin?

In response to Facebook’s new cryptocurrency, Libra, China’s central bank is reportedly developing its own cryptocurrency. According to the South China Morning Post, Libra poses a threat to the country’s financial system, and this has spurred on the development of the bank’s own digital coin. China’s Cryptocurrency At an event at Peking University’s Institute of Digital Finance yesterday, the director of the People’s Bank of China (PBoC) research bureau, Wang Xin, argued that if Libra effectively functions like money, then it will likely have a huge influence on “monetary policy, financial…

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Blockchain 

Bitcoin (BTC) Falls Back Again As Facebook’s Libra Faces Huge Setback

Bitcoin (BTC) has been on a tearing run for much of 2019 after making a remarkable turnaround from its low of last year. However, the past few days have not been particularly great for the cryptocurrency as the price fluctuated quite wildly at the start of the week. Although Bitcoin did recover, the price slumped on Friday yet again as Facebook’s proposed cryptocurrency has reportedly run into trouble with the House of Representatives Committee on Financial Services. According to reports, the committee has apparently asked Facebook to refrain from developing…

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Blockchain 

This UK Financial Regulator Has a Problem with Facebook’s Libra Coin

Most individuals in the crypto space have been following the journey of the Libra coin, Facebook’s recently unveiled cryptocurrency. From month-long rumors to the company unveiling it last month to Binance reportedly entering discussions with Facebook over it, the public has long known about Libra coin. And today, July 2, there is even more news about it. But it’s not good. More News About the Libra Coin On Tuesday, July 2, The Guardian reported that Christoper Woolard has warned against the Libra coin. Woolard, who is a senior financial regulator…

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Cryptocurrency 

Facebook’s GlobalCoin Could be Launching as Soon as Next Year

There’s been a lot of information circulating that Facebook is moving into the crypto market. And while some of this information is outright false, other bits are true — at least, that’s what the sources say. Take today, for example. On Friday, BBC said Facebook (NASDAQ:FB) is going to roll out GlobalCoin next year in several countries. Here’s everything we know. Facebook’s GlobalCoin Hitting the Market Soon? According to BBC, a London, UK-based broadcasting company, Facebook is planning to roll out its cryptocurrency “GlobalCoin” in 2020. The online media giant,…

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