Zuckerberg: Facebook Will Not Launch Libra Without US Approval

Facebook CEO Mark Zuckerberg plans to tell Congress that Libra will not launch anywhere in the world until U.S. regulators approve it. Mark Zuckerberg, the founder of social media giant Facebook, plans to tell United States Congress that Libra will not launch anywhere in the world until U.S. regulators approve it. Libra won’t launch anywhere without Congressional approval Per Zuckerberg’s prepared remarks released on Oct. 22 in advance of planned hearings before the U.S. House Financial Services Committee, the Facebook CEO wants to assuage regulatory concerns over the launch of…

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Pomp’s Morgan Creek Raises $61M For Blockchain Fund, Targets $250M

Morgan Creek Capital Management firm has raised $61 million for second blockchain fund, with the ultimate goal of raising $250 million. Anthony Pompliano’s Morgan Creek Capital Management firm established a blockchain fund to explore opportunities using distributed ledgers. On Oct. 18, the cryptocurrency asset management firm Morgan Creek submitted a filling for its second blockchain fund to the United States Securities and Exchange Commission (SEC) and has so far raised nearly $61 million from 11 investors. The filing — a Form D, that requests an exemption for the offering —…

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Fraudulent Transactions in Crypto, Explained

Crypto worth billions upon billions of dollars has been lost to fraud. But what are the most common scams, and can they be stopped? How can payment fraud be avoided? Introducing better verification measures can go a long way to protecting consumers. Amazon and eBay are often held up as good examples of how transactions should be handled in the wider economy. These sites often deliver impartial reviews based on the past activities of buyers and sellers, meaning it is easier for consumers to find someone reputable. Measures are also…

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Yale Prof and Goldman Sachs Veteran Design DLT-Based Facebook Rival

Mirror Worlds creator David Gelernter and 19-year Goldman Sachs veteran Rob Rosenthal team up for a new social network. A Yale professor and Goldman Sachs veteran are planning to complete a new project of a blockchain-based Facebook rival in 2020. Returning control of data to users David Gelernter, a Yale’s professor of computer science and Mirror Worlds creator, and Rob Rosenthal, a 19-year veteran of Goldman Sachs, are collaborating on a new social network called Revolution Populi, Business Insider reports Oct. 22. Gelernter and Rosenthal are planning to ensure user…

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Germany Warns of Privacy Token Usage in Money Laundering and Terrorism

The German Federal Ministry of Finance has expressed concerns about using privacy tokens due to their association with criminal activities and difficulties to track them down. The German Federal Ministry of Finance has expressed concerns about rising use of privacy tokens due to their association with criminal activities and difficulties in tracking them. Published on Oct. 19, the ministry’s “First Money Laundering and Terrorist Financing National Risk Assessment” for 2018-2019 provided analysis aimed at the identification of existing and future risks in the field of anti-money laundering (AML) and terrorism…

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Ripple Adds Four Members to Regulatory Team, Joins Blockchain Association

San Francisco-based blockchain startup Ripple has announced four new appointments to its global regulatory team. San Francisco-based blockchain startup Ripple has announced three new appointments to its global regulatory team and that the company will be joining the Blockchain Association. Per an Oct. 22 blog post, Ripple has onboarded four new members — Craig Phillips, Michelle Bond, Ron Hammond and Susan Friedman — to its global regulatory team based in Washington D.C. Michelle Bond will also sit on the board of the Blockchain Association. Execs with financial sector regulation backgrounds…

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Rep. Warren Davidson: You Have to Defend Money to Defend Freedom

Author of the Token Taxonomy Act and member of the U.S. House Financial Services Committee Rep. Davidson speaks with Cointelegraph ahead of Zuckerberg hearing. In an interview with Cointelegraph on Friday, Oct. 18, United States Representative Warren Davidson gave his thoughts on the Securities Exchange Commission’s (SEC) flawed approach to regulating digital assets as well as Mark Zuckerberg’s upcoming Oct. 23 testimony before the House Financial Services Committee. Congressman Davidson (R-OH) is a figure familiar to many in the crypto world for his role in authoring the Token Taxonomy Act,…

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Banks May Cut Ties With Facebook if Libra Is Launched: ING CEO

Banks may be bound to stop working with social media giant Facebook if the firm launches its Libra stablecoin, according to ING CEO Ralph Hamers. Banks may be bound to stop working with social media giant Facebook if the firm launches its Libra stablecoin, according to ING CEO Ralph Hamers. Bank can choose to “not accept the client” Financial news outlet Financial Times reported on Hamers’ remarks on Oct. 22. Per the report, he explained that institutions like ING have to guard the financial system to prevent criminal activity. Because…

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New Research: Energy DLT Apps’ CAGR to Surge 67% Over the Next Decade

Global blockchain apps to generate $19 billion in cumulative revenue over the next decade, hitting an annual market size of $7.7 billion in 2028. Energy blockchain applications are expected to see a 67% compound annual growth rate (CAGR) over the next ten years, according to new research. Annual market size to reach $7.7 billion in 2028 Navigant Research, Colorado-based market research and consulting team, has released a report devoted to the development of blockchain applications in the energy industry on Oct. 22. Titled “Energy Blockchain Applications Overview,” the research provides…

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Kik Messenger Saved From the Verge of Shutdown

Kik almost went to the verge of shutting down because of its lawsuit with the SEC. A buyout from MediaLab saved it. On Oct. 13, Canadian social media and messaging app Kik revealed it’s “here to stay.” This was an apparent reversal from what the company’s CEO, Ted Livingston, said in a blog post — that it was considering shutting down. It became clear just five days later why it was “here to stay.” A Santa Monica-based holding company, MediaLab, had signed an agreement with Kik Interactive to buy its…

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