#CryptoCorner: UK Parliament May Interrogate Libra, ECB Board Member Coeure Asserts That Regulators Must Be Completely Satisfied Before Approving Libra Launch
#CryptoCorner: UK Parliament May Interrogate Libra, ECB
Board Member Coeure Asserts That Regulators Must Be Completely Satisfied Before
Approving Libra Launch
Point Roberts WA, Delta BC, July 22, 2019
- Investorideas.com, a leader in crypto
and blockchain investing news, in partnership with Fit
Pay, Inc.’s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech,
Flip and the Genesis Exchange and Wallet App bring you today’s edition of the Crypto
Corner podcast and commentary on what’s driving the cryptocurrency market .
Listen
to today’s Crypto Corner Podcast: https://www.investorideas.com/Audio/Podcasts/2019/072219-CryptoMarket.mp3
Subscribe
to Podcast RSS feed:
https://www.investorideas.com/rss/feeds/Podcasts-Crypto.xml
Stocks
discussed: (NasdaqGS:FB) (NYSE:ICE) (NasdaqGS:MSFT) (NasdaqGS:SBUX)
Libra, the recently
announced cryptocurrency project from Facebook (NasdaqGS:FB), may be interrogated by MPs in
the UK, according to a report from CoinDesk. The piece quotes Damian Collins,
chair of the House of Commons’ Digital, Culture, Media and Sport Committee, who
expressed his concerns for the project to the publication Financial News:
“If
we’re going to have this payment system created by Facebook that exists within
a Facebook walled garden, which no one really has access to or can question,
then our concern has got to be that this system is going to be open to massive
fraud.”
“And
Facebook won’t have any special responsibility over the Libra Network. But we
hope that people will respond favorably to [Libra’s] Calibra wallet. We’ve been
clear about our approach to financial data separation and we will live up to
our commitments and work hard to deliver real utility.”
European Central Bank
board member Benoit Coeure affirmed that regulators would not allow Libra to
launch until all concerns regarding the digital coin are assuaged, according to
a report from Reuters.
“Down
the road we might find that there are gaps or inconsistencies that would
require a prolonged discussion by regulators on how to do it differently.
Authorities are not going to let any such projects happen before we have
answers to our questions and before we have the right regulatory framework.”
Today will see the start
of testing for bitcoin futures platform Bakkt, according to CCN. Bakkt, which is funded by
Intercontinental Exchange (NYSE:ICE), Microsoft (NasdaqGS:MSFT) and Starbucks (NasdaqGS:SBUX), is explained in this excerpt
from the CCN piece:
The futures contracts are physically settled in bitcoin.
Investors receives a real allocation of BTC at the end of the contract period.
In contrast, CME bitcoin futures simply track the spot price and settle in
cash. It never “touches” bitcoin.
Bakkt will also provide
fully-regulated, institutional-grade custody for digital assets. The firm
applied for a trust license, allowing it to act as a qualified custodian with
$100 million insurance coverage. The trading platform will also serve as a
price discovery market that doesn’t rely on “manipulated” exchange-driven spot
prices.
In
simple terms, it’s the first physical bitcoin product that institutional
players are comfortable using.
The article argues that
with growing institutional demand for crypto, the launch of Bakkt could be a
huge accelerator for the price of cryptocurrencies.
Another report from Reuters indicates that a government
panel in India has recommended a total ban on cryptocurrencies in the country.
Accompanying the ban would be consequences such as heavy fines and even prison
time, according to the piece. However, the panel also reportedly recommended
the establishment of some kind of central bank digital currency (CBDC).
Sam
Mowers, Investorideas
Crypto Corner Sponsors:
Flip™
is the creation of Fit Pay, Inc., a leading provider of cutting edge payment
technology and a subsidiary of NXT-ID (NASDAQ: NXTD). By
leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to
seamlessly exchange their cryptocurrency for US dollars and store that value on
a contactless payment device that can be used to make purchases at millions of
retail locations. https://www.fliptopay.com/
Genesis Exchange and Wallet
App by Genesis Blockchain
Technologies ( GBT)
@GenesisBlockch , @GbtTechnologies
GBT is a powerful cryptocurrency
centralized / decentralized exchange which will include a broad range of
services and benefits from cryptocurrency and blockchain markets development,
while avoiding complications and risks arising from crytocurrency ownership,
transfer, and exchange.You can Download the
Genesis Exchange and Wallet App at Google Play and
on the Apple
App Store. Learn more at http://www.mygenesis.io
More
info on the sector:
Investor Ideas is positioning as a leader in blockchain and crypto content with
its Bitcoin and Blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com
For
investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain
and Digital Currency Stocks Directory
About Investorideas.com - News that Inspires Big
Investing Ideas Investorideas.com
is a recognized news source publishing third party news and press releases plus
we create original financial content. Learn about investing in stocks and sector trends
from Investorideas.com with our news alerts , articles , podcasts and videos talking about cannabis, crypto,
technology including AI and IoT ,
mining ,sports biotech, water, renewable energy and more . Investorideas.com
original branded content includes the daily Crypto Corner and Podcast, Play
by Play
sports and stock news column, Investor Ideas #Potcasts #Cannabis News and
Stocks on the Move podcast and column,
Cleantech and Climate Change Podcast and
the AI
Eye Podcast
and column covering developments in AI.
The
Investorideas.com podcasts are also available on iTunes, Spotify, Tunein, Stitcher, Spreaker.com,
iHeartRadio and Google Play Music.
Visit
the Podcast page at Investorideas.com:
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third
party sourced news, articles and equity research as well as creates original
content, including video, interviews and articles. Original content created by
investorideas is protected by copyright laws other than syndication rights. Our
site does not make recommendations for purchases or sale of stocks, services or
products. Nothing on our sites should be construed as an offer or solicitation
to buy or sell products or securities. All investing involves risk and possible
losses. This site is currently compensated for news publication and
distribution, social media and marketing, content creation and more. Disclosure
is posted for each compensated news release, content published /created if
required but otherwise the news was not compensated for and was published for
the sole interest of our readers and followers. Disclosure: this newsletter and podcast is sponsored
content by featured companies NXt-ID (NASDAQ: NXTD) on behalf of Flip and GBT
Technologies . More info: http://www.investorideas.com/About/News/Clientspecifics.asp
Contact
management and IR of each company directly regarding specific questions.
More
disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more
about publishing your news release and our other news services on the
Investorideas.com newswire https://www.investorideas.com/News-Upload/ and
tickertagstocknews.com
Global
investors must adhere to regulations of each country. Please read
Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Cryptocurrency Disclaimer
Investorideas.com news
content is not meant to be a solicitation to buy or sell cryptocurrencies and
Investorideas.com does not directly sell cryptocurrencies; but acts as a news
and research resource for interested investors following the blockchain sector.
Copyright and ownership:
Crypto Corner is an Investorideas.com content brand
Learn more about our news, PR and social
media services at Investorideas.com
Contact
Investorideas.com
800-665-0411
Comments
Post a Comment