Facebook has recently hired Susan Zook, a former aid to the chairman US Senate Banking Committee to work on lobbying Facebook’s Libra cryptocurrency project.
Ripple sent an open letter to the U.S. Congress intending to explain the differences between various blockchains and digital currencies. In the letteer the company stressed the willingness to cooperate with the authorities.
Mark Zuckerberg has made it clear that Facebook will not launch its Libra crypto until all the regulators have been brought on board and every regulatory issue resolved satisfactorily.
The way Libra is designed makes it hard for governments to see who’s paying whom, or to limit cross-border payments. Thus the People’s Bank of China (PBOC) has vowed to create a currency it can manage- likely one that will be linked to real identities.
While a majority of investors said that they aren’t interested in Libra (with many preferring Bitcoin instead), some also said that unlike the decentralized cryptocurrencies, Libra doesn’t give them the financial freedom from governments.
Facebook thinks that Switzerland’s data protection commissioner should oversee Libra’s stated commitment not to monetize users’ data in the way that Facebook makes profit from selling personal information to advertisers.
eToro’s research showed that 16% of people surveyed knew what Libra was, eclipsing awareness of Ethereum (12%) and other cryptos such as Litecoin and XRP which were found to be known by even fewer people.
Japanese government to create a network similar to SWIFT, for international cryptocurrency payments. The Ministry of Finance and the Financial Services Agency will deploy this network to also tackle financial crimes.
Altcoins have spent the second and third quarter of 2019 thus far falling in value relative to Bitcoin price. Litecoin, as always, is leading this rally, and in a sense, lights the path for the rest of the altcoin market to shine.