US Rep. Kevin McCarthy Praises Bitcoin while Criticizing Libra

United States house minority leader Kevin McCarthy praised Bitcoin (BTC) while criticizing Facebook’s Libra stablecoin during an interview with CNBC published on July 16.During the interview, McCarthy said:“I like Bitcoin. Is it where it needs to be? No, but the real thing I like when it comes to Bitcoin is blockchain, ‘cause I like the…

Bitcoin Noticeably Absent From Senate Hearing on Facebook’s Libra

news For a panel about a proposed cryptocurrency, Tuesday’s Senate Banking Committee hearing was notably light on crypto talk. Bitcoin was barely mentioned during the two-hour session and most of the lawmakers seemed far less concerned with the technology than with who was planning to leverage it: Facebook. Sen. Brian Schatz (D-Hawaii) put it perhaps…

Blockchain and Social Media: A Match Made in Heaven?

Social media platforms of the new future will be very different from what we have today, that is if the current trends are to sustain. Social networking is not an old phenomenon. It has picked up in the last two decades. At the dawn of the internet, as it started to gain mainstream adoption in…

Ethereum Co-Founder Mihai Alisie Concerned Over Libra Centralization

Ethereum’s co-founder Mihai Alisie is extremely concerned that Facebook is attempting to hoodwink regulators into approving a centralized “cryptocurrency,” according to a report by Bloomberg on July 11.In an interview with Bloomberg, Alisie stressed that Facebook is attempting to get regulator approval for its yet-to-be-released virtual currency Libra by claiming that it will not be…

Expert: Facebook’s Libra Could Face Difficulties Entering Thai Market

Facebook’s long-awaited stablecoin Libra could face a difficult roll out in Thailand due to the coin’s uncertain legal status in the country, an expert told the Bangkok Post on July 9.Fiscal Policy Office legal officer Sumaporn Manason argued that Libra will likely run up against difficulties entering Thailand as the cryptocurrency does not fall under…

Facebook to Senators: Libra Crypto Will Respect Consumer Privacy

news Facebook blockchain lead David Marcus told U.S. lawmakers that the social media giant plagued by privacy scandals won’t have access to personal financial information with its new cryptocurrency. In a letter dated Monday to the Senate Banking Committee responding to pointed questions the lawmakers sent in May, Marcus took a diplomatic tone, acknowledging the…

European Central Bank Exec Calls for Fast Regulatory Action Regarding Libra

European Central Bank executive board member Benoit Coeure said that financial regulators must act fast to prepare for Facebook’s Libra stablecoin, Bloomberg reports on July 7.Per Bloomberg, Coeure argued on Sunday in Aix-en-Provence in southern France that allowing for the development of new financial services and asset classes in a regulatory void is irresponsible. He…

Facebook’s Libra Lacks Foundational Components for Crypto Key Security

Steven Sprague is one of the principal industry evangelists for the application of trusted computing technology. Steven served as president and CEO of Wave Systems Corp. for 14 years before transitioning to the board of directors. Recently, Facebook launched Libra with the stated goal of “transforming the global economy.” It’s a lofty aim. However, after…

Libra Isn’t a Cryptocurrency. It’s a Glimpse of a New Asset Class

opinion Noelle Acheson is a veteran of company analysis and a member of CoinDesk’s product team. The opinions expressed in this article are the author’s own. The following article originally appeared in Institutional Crypto by CoinDesk, a free newsletter for institutional investors interested in cryptoassets, with news and views on crypto infrastructure delivered every Tuesday. Sign…