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Recently the US Congress scheduled a new sitting on hearing about digital currencies. This hearing will majorly focus on the local and global ways to approach digital currencies. This meeting will be taking place on March 24.  The host of the hearing will be the House committees that focus on Financial Services, with the specific subcommittee tasked for that being the subcommittee on National security, international development, and monetary policy.   This is not the first hearing of the kind; several…

Facebook's Libra cannot drive financial inclusion. This is according to Andreas Antonopoulos the author of Mastering Bitcoin. Mr. Antonopoulos made the remarks during an interview with BLOCK TV NEWS. Part of the interview centered on the stablecoin's ability to bank the unbanked as alluded to in the project's whitepaper. No Stranger To Controversy The Libra project has courted controversy since Facebook announced its intended launch in June 2019.  Consequently, the developers have had to reschedule the launch to an unnamed…

The CEO of Mastercard, Ajay Banga, recently talked about why the firm left the Libra association in an interview with the Financial Times.  Facebook also added Mastercard, Visa, Paypal, and Stripe, as members of the Libra association. However, they abandoned the association in October last year without any appropriate explanation. There were, nevertheless, rumors that they feared running afoul of regulators. Reasons Why Mastercard Left Libra Association According to Banga, Libra lacks transparency, and compliance is also a significant reason.…

Libra Association has come up with a five-member steering committee, which will help develop and coordinate the Libra network’s technical design, specifically the management.  The new development comes from a blog post on the Libra Association’s 16th of January 2020. According to the association, the committee consists of five members, including Diogo Monica of Anchorage, George Cabrera III at Calibra, Joe Lallouz at Bison Trails, Nick Grossman at Union Square Ventures, and Ric Shreves at Mercy Corps.  The Libra committee aims…

Based on the Reverse Bank of Australia's (RBA) presentations conducted in the presence of a senate, queries in light of the established technologies assimilated by the financial institution were made and followed concerns raised based on introductions of the digital dollar of Australia. The primary function that is expected to establish the utilization of the digital AUD is focused on facilitating faster transactions that are done explicitly by major commercial institutions and even corporate companies in the Australian region.  Submission…

Following the comments by the European Central Bank policymaker, Jens Weidmann, the ECB has no urgent needs in the creation of a digital currency at the current moment. Based on the reports of the ECB in December 2017, "Exploring anonymity in central bank digital currencies," a new report explained the primary functions of the Central Bank Digital Currency.  Its research focuses on contribution motive towards the border discussions of the ECB chains. The Accenture and R3 features presented in the…

Following laws and amendments made by the United States regarding bill preparation on stablecoins, concerns related to various technologies and firms interested in cryptocurrency creation are raised.  The House committee drafted legislation proposed on 15th of July 2019, focuses on Libra by Facebook, and primarily restricts these large technology firms from operating practices similar to financial institutions. The large technology firms implied in the draft legislation are majorly the online platform service providers who are minimum annual revenue earnings approximate…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $250 billion. Bitcoin price drops to $7,300 before rising over the $10,000-mark and dropping again. Ethereum finally breaks over the $180 target. Ripple attracts more investors in its bid to overcome the $0.30 threshold. Google’s parent company Alphabet claims that its new Sycamore processor is the peak of quantum computing. Crypto Trends 21-27th of…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $217 billion. Bitcoin’s price drops below $8,000 Ethereum price fails to reach the $180 threshold. Ripple still struggles to overcome the $0.30 hurdle. Facebook's Libra loses support from Visa, MasterCard, and PayPal. Crypto Trends 13-20th of October 2019: Performance & Analysis The third week of October 2019 has seen the crypto market continue its…