#CryptoCorner: France Will Not Authorize Libra, Roger Ver’s Bitcoin.com Planning for BCH Futures and Binance US to Open Registration Next Week
#CryptoCorner: France Will Not Authorize Libra, Roger
Ver’s Bitcoin.com Planning for BCH Futures and Binance US to Open Registration
Next Week
Point Roberts, WA, Delta BC, September 12,
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Stocks discussed: (NasdaqGS:FB)
France will not
authorize Facebook’s (NasdaqGS:FB) Libra in Europe, according to a
report from CNBC. Bruno Le Maire,
the country’s Finance Minister, affirmed France’s position at an OECD
conference in Paris today. He cited concerns that Libra would undermine the
sovereignty of national currencies, and that it would be used for money
laundering and terrorism financing.
“All these concerns around libra are serious. So I want
to say this with a lot of clarity: In these conditions, we cannot authorize the
development of libra on European soil.”
Dante Disparte,
Head of Policy and Communications for the Libra Association, replied to Le
Maire’s comments:
“We welcome this scrutiny and have deliberately
designed a long launch runway to have these conversations, educate stakeholders
and incorporate their feedback in our design. The Libra Association and its
members are committed to working with regulatory authorities to achieve a safe,
transparent, and consumer-focused implementation of the Libra project. We
recognize that blockchain is an emerging technology, and that policymakers must
carefully consider how its applications fit into their financial system
policies.”
Mark Branson,
director of the Swiss Financial Market Supervisory Authority (FINMA), showed in
an interview with Neue
Zürcher Zeitung,
that his country was more open to Libra than his French counterpart. But
Branson conceded that it would take more than one country to regulate the
project:
“It is clear that other players want to have a say. A
project of such a global dimension can only be addressed through international
coordination and consultation with other regulators and regulators. It is
illusory to believe that a single country can regulate and oversee a project
like Libra on its own.”
Bloomberg reports that Roger
Ver’s Bitcoin.com plans to generate more interest in Bitcoin Cash (BCH) with the
introduction of a futures contract. David Shin, head of Bitcoin.com’s newly
launched exchange unit, explained the firm’s plans to make Bitcoin Cash bigger:
“Within a year I want to make that the second- or
third-largest market cap. To get from No. 4 to No. 3 or No. 2, we have to see
more volume.”
“We’ll try to list a BCH future on one of these
exchanges that’s CFTC regulated to therefore have a product that can be traded
into the U.S. with institutional traders. In theory we should see more
penetration, more users, more trading and more volume.”
In a blog
post
yesterday, crypto exchange giant Binance revealed that U.S. exchange will open
for user registration on September 18. During this registration phase of the
rollout, users will be able to select a verification tier, whereupon they can
make deposits across the initial selection of digital assets.
Sam Mowers,
Investorideas
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