Jamie Dimon Says Libra Does Not Pose a Threat in Short Term

Jamie Dimon, CEO of global financial services firm JPMorgan Chase, argued that Facebook’s cryptocurrency project Libra does not pose a threat in the foreseeable future.As reported by CNBC, Dimon delivered his comments during a conference call with analysts on Tuesday, July 16. Dimon said that he would not spend too much time on Libra, specifying…

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…

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…

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…

Stablecoin Market is Showing Signs of Solid Growth

The cryptocurrency market has possibly been one of the most innovative things to have emerged over the past decade or so, and during the course of that period, it has taken the world by storm. However, as everyone knows, ecosystems evolve, and that is what has been happening with regards to the cryptocurrency ecosystem as…

Huobi Unveils ‘Finance Chain’ For Building Enterprise Blockchains

Huobi Group is jointly developing a new public blockchain for decentralized financial (DeFi) services, according to a press release on July 1.Major global digital asset financial service provider Huobi has partnered with Chinese blockchain startup Nervos enabling companies to deploy their own blockchains, tokenized assets, as well as DeFi services, according to the announcement.The joint…

Swiss Stock Exchange Asks Central Bank to Issue Stablecoin

Principal Swiss stock exchange SIX asked the country’s central bank to issue a stablecoin, local media SwissInfo reports on June 26Per the report, the crypto asset would be used to settle payments on its new digital securities trading platform. The exchange reportedly announced during the Crypto Valley Association conference this week that users of its…

First Stablecoin Trading Pairs Listed on Binance DEX

Major global crypto exchange Binance has listed trading pairs for USDSB, a Binance Chain-based version of StableUSD (USDS), the firm announced on June 24.As noted in the statement, Binance has launched trading for two trading pairs, including USDSB against major stablecoin tether (USDT), as well as the USDSB-to-USDS trading pair today at 10:00 AM UTC.Derived…

Facebook Has Not Applied for RBI Approval to Operate Libra in India: Report

Facebook’s newly announced cryptocurrency, libra, may not be available in India due to the current ban of blockchain-based currency transactions, as stated in a report by local publication The Economic Times on June 20.Citing people familiar with the matter, the report says that the social media giant has not applied for approval with the Reserve…