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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
“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
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 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!
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
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
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.
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
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
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
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
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
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
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
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