Wednesday, January 22, 2020
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Lawmakers Finally Took Data Privacy Seriously — 2019 Regulatory Roundup

Data privacy has long been seen as one of the major non-monetary usages of blockchain technology. Many governments and corporations are already running recordkeeping systems based on distributed ledgers to securely store internal data.Tech enthusiasts believe that blockchain has the potential to revolutionize personal data and identity management for

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US Lawmakers Call on Communications Regulator to Tackle SIM-Swapping Crime

Democratic lawmakers in the U.S. are demanding are demanding that the Federal Communications Commission (FCC) takes action to tackle the rise in SIM swapping attacks.Responding to the groundswell of reported SIM swap heists, senators Ron Wyden (Ore.), Sherrod Brown (Ohio) and Ed Markey (Mass.) and representatives Ted Lieu (Calif.), Anna

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US Lawmakers Ask IRS to Clarify Crypto Tax Rules Around Airdrops, Forks in New Letter

The U.S. taxman's most recent crypto guidance is sowing confusion, according to a letter from eight congressmen published Friday.According to a letter penned by Representatives Tom Emmer (R-Minn.), Bill Foster (D-Ill.), David Schweikert (r-Ariz.), Darren Soto (D-Fla.), Lance Gooden (R-Texas), French Hill (R-Ark.), Matt Gaetz (R-Fla.) and Warren Davidson (R-Ohio),

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US Lawmakers Want to Brand Libra a Security, Association Disagrees

A couple of United States lawmakers are looking to classify stablecoins as securities. With Libra considering adopting fiat-pegged stablecoins rather than a single token supported by a basket of national currencies, the proposed crypto project might be facing yet another regulatory hurdle.Meanwhile, lawmakers sponsoring the bill say stablecoins should

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Lawmakers Left with More Questions as Zuckerberg Takes the Congressional Stand

“I’m not sure that we learned too much more new, except now that they’re calling the association an independent association,” Rep. Sylvia Garcia laments.Could this be the end of the road for Facebook’s digital coin, Libra, or perhaps is it just the beginning? Similarly to congress members yesterday, we are

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Libra Hearing Fails to Assuage Senior Lawmakers’ Concerns

Following testimony before the United States House of Representatives Financial Services Committee earlier today, lawmakers are still concerned about the possible launch of the Libra stablecoin.On Oct. 23, legislators heard statements from Facebook CEO Mark Zuckerberg and posed questions covering a variety of topics from Libra to Facebook's data policies and

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US Lawmakers Request Facebook’s Zuckerberg and Sandberg to Testify about Libra

Just when you think Libra may finally get some blessings of regulators to hit the market, the U.S. House turns up the heat. This time, lawmakers demand that Facebook’s top executive, Mark Zuckerberg and Sheryl Sandberg, will testify by the beginning of 2020.Ever since announcing the proposed launch of Facebook’s

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US Lawmakers Ask Federal Reserve About National Digital Currency

Members of the United States House of Representatives Financial Services Committee asked the Federal Reserve whether there are any plans of launching a U.S. dollar digital currency.Fed has the mandate to develop a national digital currencyIn a Sept. 30 letter to Federal Reserve Board Chairman Jerome Powell, U.S. Representatives

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US Lawmakers to Visit Switzerland to Discuss Crypto, Facebook’s Libra

A delegation of the United States House of Representatives will visit Switzerland on cryptocurrency concerns, with Facebook’s not-yet-released stablecoin Libra being in the focus.As local weekly news outlet NZZ am Sonntag reported on Aug. 17, a six-member delegation from the House Financial Services Committee is going to meet with

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