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Another good overview of tomorrow FB Libra hearings ?
— Hailey Lennon (@HaileyLennonBTC) July 15, 2019
What to Expect When Congress Grills Facebook on Cryptocurrency | @coindesk @nikhileshde https://t.co/8DwnGF2sYB
What to Expect When Congress Grills Facebook on Cryptocurrency This Week https://t.co/3wsdbE4woP
— Real Time Crypto (@RealTimeCrypto) July 15, 2019
If Congress struggled to understand "we run ads", expect a lot of clueless questions about Libra tomorrowhttps://t.co/NmilQxuZMf
— Josh Constine (@JoshConstine) July 15, 2019
David Marcus releases prepared testimony for his senate hearing tomorrow, saying Libra will be regulated by the Swiss but comply with US anti-laundering laws https://t.co/NmilQxuZMf tip @techmeme
— Josh Constine (@JoshConstine) July 15, 2019
Facebook says Libra will "fully address" regulatory concerns before launching https://t.co/HJ4hIYxY3H pic.twitter.com/JaorJfO8uq
— The Verge (@verge) July 15, 2019
If Congress struggled to understand "we run ads", expect a lot of clueless questions about Libra tomorrowhttps://t.co/NmilQxuZMf
— Josh Constine (@JoshConstine) July 15, 2019
Congress to ban big #tech from issuing digital money
— John C. Maxwell III (@maxjcm) July 15, 2019
Bill: Keep Big Tech Out Of Finance Act#VC #fintech #banking #finserv #cryptocurrency #finance #banks #blockchain #regtech #Insurtech @MikeQuindazzi @FGraillot @topcybernews @socialfave @d_zimnochhttps://t.co/uxxsLx1CeH
It's on: The U.S. wants to ban big tech from issuing digital money https://t.co/G2ByJeaQ8S pic.twitter.com/nwHHQKGJ31
— FutureShift (@futureshift) July 15, 2019
“Libra could be misused by money launderers and terrorist financiers,” @stevenmnuchin1 said, using money laundering, terrorist financing, extortion, human trafficking, drug trafficking and tax evasion as exampleshttps://t.co/7aDoR5TqkC via @CoinDesk @nikhileshde
— Hailey Lennon (@HaileyLennonBTC) July 15, 2019
US Treasury Secretary Mnuchin Is 'Not Comfortable' With Facebook's Libra - Don’t kick the gorilla ? in the nuts !! https://t.co/CHDLRcfSvY
— $Salty (@BSV_MetaNet) July 15, 2019
Facebook’s Libra hearings in Congress are the best free entertainment you’ll get all week https://t.co/fKVHGiwgbs pic.twitter.com/7cAuEEB6O8
— The Verge (@verge) July 15, 2019
Facebook’s Libra hearings in Congress are the best free entertainment you’ll get all week https://t.co/YX6hG0j5Kd pic.twitter.com/NnJioh2SVw
— Rich Tehrani (@rtehrani) July 15, 2019
Strong words from Mnuchin on crypto. And they come just days after President Trump made clear he's "not a fan" of cryptocurrencies. https://t.co/K8CHGWl8nn
— Ryan Browne (@Ryan_Browne_) July 15, 2019
Wow- Brown describes Facebook as a "for-profit laboratory" that repeatedly has harmed society. Says it takes a "breathtaking amount of arrogance" for them to think they could replace central banks with their own currency system given terrible track record
— CeciliaKang (@ceciliakang) July 16, 2019
The biggest news: Facebook will refuse to embed competing Libra wallets in Messenger & WhatsApp, only its own https://t.co/l95977leOd
— Josh Constine (@JoshConstine) July 16, 2019
Marcus said it in his testimony today. That was news to Swiss regulators. https://t.co/682bgiECvW
— Steve Kovach (@stevekovach) July 16, 2019
Update: FB spokesperson confirms they haven't spoken with the FDPIC about Libra. So it's unclear why Marcus said this during his testimony. https://t.co/682bgiECvW
— Steve Kovach (@stevekovach) July 16, 2019
Finally someone understood it! Money laundering / criminals / drug dealers / crooks.. all love Cryptocurrencies! Maybe there is a reason behind it? From Venezuela to North Korea to Zimbabwe https://t.co/ncT3jVb9N7
— Davide Serra ?????? (@davidealgebris) July 15, 2019
the main point Warner hammers home in his Q's is that facebook is a kingmaker — Libra will touch WhatsApp and Messenger from *day one*, tapping into FB's enormous network of 2 billion people to get it a better chance at traction than literally any other cryptocurrency, ever
— rat king (@MikeIsaac) July 16, 2019
"Is there anything that elected leaders can say that will convince you and Facebook that it should not launch this currency?" Senator Brown asks. So far the answer is clearly no.
— Nathaniel Popper (@nathanielpopper) July 16, 2019
"Facebook should be treated like the profit seeking entity it is
— rat king (@MikeIsaac) July 16, 2019
No facebook executives to my knowledge has been harmed by its social experiments."
good morning menlo park!
Facebook's political problem is that the company obviously knows nothing about banking and monetary policy, and and this was exposed today. Senators defer to the company on technology questions, but not on banking questions. https://t.co/Mj20LUAk9F
— Matt Stoller (@matthewstoller) July 16, 2019
My takeaway from Libra's hearing: Precisely because the public distrusts Facebook, consumers may seek Libra wallet alternatives, pushing them into the hands of scammers https://t.co/l95977leOd
— Josh Constine (@JoshConstine) July 16, 2019
Big takeaway here so far: Facebook hopes non-profit Libra platform being open source will deflect from for-profit FB wallet Calibra will have an enormous upper hand on the world's biggest social network. Sen Warner gets this - pressed hard.
— Dave Lee (@DaveLeeBBC) July 16, 2019
David Marcus defends decision to base the Libra Association in Switzerland:
— Russell Brandom (@russellbrandom) July 16, 2019
“We chose Switzerland not to evade any responsibilities of oversight but because it is a well established international place” for finance companies. Cites BIS HQ in Geneva.
We're now onto how (Ca)Libra will handle theft. Marcus says fb "will do our best" to solve issues around fraud - says the firm is working on building 24-hour customer service in time for Calibra's launch
— Dave Lee (@DaveLeeBBC) July 16, 2019
when everything is a "national security issue," then nothing is. It cheapens the gravity of the phrase to throw it around so casually where it makes no sense to do so, like for "regulation in the crypto space," whatever that even means. https://t.co/kt6DD5DV1u
— Adam Thierer (@AdamThierer) July 15, 2019
Facebook—we consider everyone™️ https://t.co/K5pxITm5x7
— Owen Williams ⚡ (@ow) July 16, 2019
Arizona senator brings up the great point that Facebook went back on its promise to not share data from WhatsApp a couple years after it was acquired. FB was fined in the EU for this. What’s to keep the same thing from happening with Calibra saying it won’t share data now?
— Alex Heath (@alexeheath) July 16, 2019
senators really playing up the clandestine phrasing of "swiss bank account"
— rat king (@MikeIsaac) July 16, 2019
wow, I didn't know that only Bitcoin has been used for illicit activites... I guess dollars never have been, or cars either, or mobile phones...
— Mark Moss (@1MarkMoss) July 16, 2019
And since when was drug use and dealing a national security issue? https://t.co/jl8NZ57idi
.@SenatorSinema brought up my article (!!!) warning how Libra won't vet developers, which could cause a crypto Cambridge Analytica. Fb says it will try to educate users ? https://t.co/gYeYIQVFLj
— Josh Constine (@JoshConstine) July 16, 2019
the moment @SenJohnKennedy leaves @facebook's David Marcus speechless ? pic.twitter.com/E7iTlEtz4v
— J.D. Durkin (@jiveDurkey) July 16, 2019
Facebook basically revamped its vanity in-app payments system, dressed up with a vague white paper with hand-waving about virtual currency, and now is in the absolute muck over this.
— Shira Ovide (@ShiraOvide) July 16, 2019
This is the most Facebook thing that ever Facebook-ed.
My takeaway from Libra's hearing: Precisely because the public distrusts Facebook, consumers may seek Libra wallet alternatives, pushing them into the hands of scammers https://t.co/l95977leOd
— Josh Constine (@JoshConstine) July 16, 2019
Here are some clarifications on @Libra_ and the motivation of @facebook for creating it, delivered by @davidmarcus to the US senators today. There will be more questions coming from the congress.https://t.co/beSI9VPnSw
— Mikko Alasaarela | AI ❤ Blockchain (@alasaarela) July 16, 2019
The biggest news: Facebook will refuse to embed competing Libra wallets in Messenger & WhatsApp, only its own https://t.co/l95977leOd
— Josh Constine (@JoshConstine) July 16, 2019
https://t.co/XiWd5p8MmU Interesting! Illicit activities with #cryptocurrency occur far less than with #fiat currencies, but there is no need for ANOTHER vehicle with which to launder money. We need FAIR #regulations.@FATFNews @DNB_NL @Europol @EUBlockchainF $BTC $ETH $EUCX $DGB
— EUCX | European Cryptocurrency Exchange (@eucxio) July 15, 2019
This guy...https://t.co/XR7121h0Vt pic.twitter.com/s9nDl9RHNF
— Bitcoin (@Bitcoin) July 15, 2019
I missed this until now. Worked all day. I like it!!@Ripple and $XRP are compliant period. https://t.co/YFaXH41LZb
— Michael B ⚡️? (@XRPMichaelB) July 15, 2019
Boom! And just like that, mainstreaming of Crypto begins.
— Nischal (WazirX) ⚡️ (@NischalShetty) July 15, 2019
This is the single most clarity providing press conference ever! Love the clarity ?https://t.co/88RTyzAZPy
Pretty much everything Dr. Craig Wright has been saying for years. Almost like CSW briefed US government, those words sound very familiar. #BitCoin #BSV #Metanet #RedPillhttps://t.co/lQ1m5O7Og4
— Gabriel (SV) (@sv_frontier) July 16, 2019
.@stevenmnuchin1 briefing on #cryptocurrency was much more enjoyable than previous Trump tweet. Aside from issues of crypto, the irony is that crypto is a response to mistrust of our current centralized financial system fraught w bad actors.https://t.co/jiYDRdbo6h
— Min (@minhokim) July 15, 2019
1) Thank you Treasury Secretary @stevenmnuchin1 for engaging on #Bitcoin and digital assets. I believe these innovative technologies may benefit American payments, currency and capital market infrastructure. Source: @FoxBusiness, https://t.co/G8y9i47Puj #MakeMarketsGreatAgain
— Gabor Gurbacs (@gaborgurbacs) July 15, 2019
You know what is behind this global “level playing field”?
— Philixrpe Deblixrpe (@alezan111) July 15, 2019
If exchanges cannot comply to regulatory rules for a crypto, it will be delisted EVERYWHERE and dead in a minute!
Any example?https://t.co/HNvUzpssfg
"... To be clear, the US welcomes responsible innovation, including new technologies that may improve the efficiency of the financial system and expand access to financial services.." Steven Mnuchin - US Treasury Secretaryhttps://t.co/MuTQnAUWpX
— Andy Johnson (@Blocklettuce) July 15, 2019
Secretary Mnuchin the US Government supports Crypto but more regulations coming down to ensure that illegal activities and terrorist organizations can't use it easily. Crypto pretty much globally going mainstream through this televised speech #Crypto #UShttps://t.co/uh21YcOEWT
— BitcoinGuru (@BitcoinGuruInfo) July 15, 2019
While some may see this bearish for crypto, this could be very bullish for $tel who is one of the most legally compliant cryptocurrencies worldwide.
— £scobar (@BTCEscobar) July 15, 2019
@telcoin_team is also MSB registered in the US. But please, read this statement by Muchin: https://t.co/Q1bNUPtYUX
Here's what I heard...
— Neo of Crypto (@Crypto__Daz) July 15, 2019
Something... Something... Don't use #Bitcoin for illegal things... Something... We hate Libra... Something... Something... American companies... Level playing field... Moneygram... buy #XRP... Something... Something...https://t.co/vNWy05292O via @YouTube
Live: Treasury Secretary #Mnuchin Holds Briefing On Regulating #Cryptocurrency in about 10 minutes$BTC #Bitcoinhttps://t.co/MHEUmwRisD
— CRYPTONATOR1337 (@cryptonator1337) July 15, 2019
You can view the entire press conference here. Very refreshing to see how law makers aren't afraid of new tech, just cautious. They want to ensure safety and innovation at the same time. https://t.co/88RTyzjoqY
— Nischal (WazirX) ⚡️ (@NischalShetty) July 16, 2019
Mnuchin holds briefing on regulating cryptocurrency https://t.co/6dsmTRtkBj LAW is coming & the gorilla is king still king of jungle. Satoshi aka Dr Craig Wright has warned everyone. Will you now listen? I’d take note & prepare accordingly. This is not a test it’s the real world
— $Salty (@BSV_MetaNet) July 16, 2019
Video: Mnuchin holds briefing on regulating cryptocurrency https://t.co/5p1XYlXUdS #bitcoin #libra
— Erik Voorhees (@ErikVoorhees) July 16, 2019
Live now: Treasury Secretary Mnuchin news conference on cryptocurrencieshttps://t.co/Ld7LcysAV1
— Alistair Milne (@alistairmilne) July 15, 2019
Summary of Mnuchin's presser:
— WrathofKahneman (@WKahneman) July 15, 2019
"We distrust crypto but the US will tech co's can operate as FI's if they bide by the same rules as banks for proper regulation; FINCEN regulated, FATF adopted.
...I know one DLT company that is already registered w/ FINCENhttps://t.co/gBzii5f3K0
This is unbelievable coverage within a couple of days and huge global pivoting; first President Trump wants crypto currencies banned; then the UK chancellor says they want to engage; then the US Treasury Secretary comes out within…https://t.co/zhC0ROCV08 https://t.co/JqTRTcHPMu
— Lee Birkett (@MrLeeBirkett) July 15, 2019
1/ Said earlier facebook’s efforts were good for crypto because we now have a deep pocketed lighting rod (and heat shield). Mnuchin’s crypto briefing was proof. Have paraphrased some of (what I think were) the key points and my read on their meaning https://t.co/4nxTbBxXFS
— Asiff Hirji (@AsiffHirji) July 15, 2019
U.S. Treasury Secretary Steven Mnuchin gives a briefing to discuss regulatory issues associated with cryptocurrency. The briefing mentioned BTC and Libra from Facebook.https://t.co/wYVFgKwhhS
— BitPetro (@diamanterus) July 16, 2019
This will be the greatest YouTube chat box trolling in history https://t.co/3whvOcAMMp
— Carter Thomas (@carterthomas) July 15, 2019
They are scared as fuck!https://t.co/sE1Crjkbc0
— Nunya Bizniz (@Pladizow) July 15, 2019
BREAKING NEWS: The US Government makes their first formal statement about crypto https://t.co/AuEOOb0sAk
— Internet Of Everything - IOTA (@IOTAFanClub) July 15, 2019
Epic! MUST WATCH?? U.S. Treasury Secretary speaking about #Crypto!! Only those AML / FTC compliant will survive!!! ? #XRP #xrpthestandard #XRPArmy #XRPcommunity #DigitalAssets https://t.co/V2KlzDSwpN
— Tom T_XRP ? (@TomT_XRP) July 15, 2019
Breaking: Top GOP Congressman Defies Trump, Says ‘I Like Bitcoin’ https://t.co/cpZX55yt6S
— CCN Markets (@CCNMarkets) July 16, 2019
Breaking: Top GOP Congressman Defies Trump, Says 'I Like #Bitcoin' https://t.co/AS7xZTkBoO #Bitcoinforum
— ⚡Bitcoin Forum⚡ (@BitcoinForumCom) July 16, 2019
House Minority Leader: US Should Go All-In on Blockchainhttps://t.co/HXjtR6RBjG We’ve been saying this from day one. If health information and health data were secured via blockchain powered tech the cost savings to health care is in the billions! It’s what we built!
— Timicoin/TimiDNA (@timicoin) July 16, 2019
Breaking: Top GOP Congressman Defies Trump, Says 'I Like Bitcoin' https://t.co/tJGOZaCjc5
— ?CRYPTO MOON? (@manianban) July 16, 2019
Facebook's dive into cryptocurrency with its Libra project has put digital payments squarely in the bullseye of government regulators. https://t.co/m4eJZJfrDJ
— Axios (@axios) July 16, 2019
‘I Like Bitcoin’ Not Facebook Libra, House Rep. Kevin McCarthy Admits https://t.co/Sxmb41KJVN
— Bitcoin Dood (@BitcoinDood) July 16, 2019
Live Hearing Today On Facebooks New #Cryptocurrency The #Libra https://t.co/zuCFCsqXol
— BlockSpaces (@BlockSpaces_io) July 16, 2019
I'm not much of @facebook fan either, but geez these government fools are dumb AF when it comes to technology, blockchain tech specifically | Senate Banking Hearing on Facebook Digital Currency - LIVE! #Facebook #Libra #blockchain #crypto - Buy $RSR!https://t.co/e3Dxsw44Zk
— Ryan Charleston (@ryancharleston) July 16, 2019