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Facebook Libra Cryptocurrency Has Its Uses, Says Bank of England Governor

The head of the United Kingdom’s central bank has said Facebook’s new libra cryptocurrency could have genuine use cases if it can conform to regulatory demands, the Financial Times (FT) reported on June 18. Speaking at a conference of central bankers in Portugal, Mark Carney, governor of the Bank of England (BoE), delivered mixed reviews of libra. The in-house stablecoin for Facebook has sparked predictions of blanket bans by governments since developers unveiled it this week. “The governor said the BoE was there to guarantee financial and monetary stability and…

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Facebook’s Crypto Libra is no Sovereign Currency, Blasts French Minister

Published: 19/06/2019 05:05 EST. Journalist: By CCN Markets: Facebook’s unveiling of Libra, its cryptocurrency project coming in 2020, has caught the attention of many, including the French Finance Minister. Bruno Le Maire, speaking on French Radio, has said that this new cryptocurrency cannot operate as a sovereign currency. Facebook’s Libra project intends to introduce a digital currency for usage on its platforms. However, this is raising several economic issues. Concerns on its regulation, and the status of this currency, are up for debate with Le Maire giving some stern warnings. Stern…

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Facebook’s Libra Is Here. But It Might Not Be What You Think.

Libra — sometimes referred to as “Facecoin” or “Zuckcoin” — is self-billed as “a simple global currency and financial infrastructure that empowers billions of people.” The introduction waxes cypher-poetic about the liberating nature of the internet and the potential for an online currency to unfetter financially disenfranchised populations around the world from the shackles of the inefficient and parasitic banking system. “The world truly needs a reliable digital currency and infrastructure that together can deliver on the promise of ‘the internet of money.’”   — Facebook Libra white paper If…

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TRON Announces MainNet Upgrade Designed to Enhance Security and Convenience

Odyssey, the mainnet for the blockchain-based platform TRON, will be upgraded to version 3.6 soon, according to an official blog post by the TRON Foundation on June 18. The TRON network aims to be a platform for creating entertainment-focused decentralized applications (DApps). As stated in the post, developers can create DApps on both the TRON protocol as well as the Tron Virtual Machine. Odyssey version 3.6 will reportedly contain new features designed to make DApp creation easier, as well as provide network protection from bad actors. As per the report,…

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‘Bitcoin Inventor’ Craig Wright’s Satoshi Lawsuit Mediation at ‘Impasse’

Published: 18/06/2019 22:00 EST. Journalist: By CCN Markets: Self-proclaimed “bitcoin inventor” Craig Wright attended a mediation conference in Miami related to his $10 billion lawsuit against the estate of deceased computer genius Dave Kleiman. Mediator: ‘We Are at an Impasse’ In a federal court filing dated June 18, the mediator noted that the parties were unable to resolve their lawsuit at mediation. “This case did not settle at the mediation. As a result, we are at an impasse.” Final mediation report. | Source: U.S. District Court, SD Florida Calvin Ayre:…

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Chair of House Financial Services Committee Requests Halt on Facebook’s Crypto Project

Disclaimer: this story is breaking and will be subject to updates. Rep. Maxine Waters, chairwoman of the United States House of Representatives’ Financial Services Committee is requesting that Facebook halt development on its cryptocurrency, the Libra, as reported by CNN Tech Reporter Brian Fung in a series of tweets June 18. In her statement, Rep. Waters explained: “Given the company’s troubled past, I am requesting that Facebook agree to a moratorium on any movement forward on developing a cryptocurrency until Congress and regulators have the opportunity to examine these issues and…

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