Facebook’s Libra to Dominate Discussions during U.S. Lawmakers’ Visit to Switzerland

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Facebook’s Libra to Dominate Discussions during U.S. Lawmakers’ Visit to Switzerland
The U.S. House Financial Services Committee delegation plans to visit Switzerland to exchange views about Facebook’s Libra with the Swiss FDPIC Adrian Lobsiger.
Facebook’s Libra to Dominate Discussions during U.S. Lawmakers’ Visit to Switzerland

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Source: CoinSpeaker

Chinese Digital Currency Will Not Be Cryptocurrency After All

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Chinese Digital Currency Will Not Be Cryptocurrency After All
China may be about to launch a fiat digital currency, but in all likelihood, PBoC’s currency will only resemble crypto on the surface. It probably won’t use blockchain technology.
Chinese Digital Currency Will Not Be Cryptocurrency After All

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CZ: Binance will Resume US Operations within a Month or Two

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CZ: Binance will Resume US Operations within a Month or Two
In a recent interview Changpeng Zhao, also known as CZ, commented that he believes that Binance should resume operations in the US within “a month or two”.
CZ: Binance will Resume US Operations within a Month or Two

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UK’s Advertising Regulator Accuses BitMEX Exchange of Misleading Bitcoin Graph

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UK’s Advertising Regulator Accuses BitMEX Exchange of Misleading Bitcoin Graph
The advertising regulator ASA notes that BitMEX ads breached the code along with the lack of clear explanation of the risks involved with the BTC investments.
UK’s Advertising Regulator Accuses BitMEX Exchange of Misleading Bitcoin Graph

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PBOC’s Digital Currency Nearly Ready After 5 Years of Development

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PBOC’s Digital Currency Nearly Ready After 5 Years of Development
A senior official of China’s central bank announced at the China Finance 40 Group meeting that the country will soon roll out its central bank digital currency (CBDC).
PBOC’s Digital Currency Nearly Ready After 5 Years of Development

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The IRS Is on the Hunt for Cryptocurrency Tax Avoiders

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The IRS Is on the Hunt for Cryptocurrency Tax Avoiders
While cryptocurrencies are continuing to gain popularity, it’s high time to learn how to report your crypto gains in order to comply with IRS regulations and avoid undesirable consequences.
The IRS Is on the Hunt for Cryptocurrency Tax Avoiders

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China’s Central Bank Focuses on Development of Its Own Virtual Currency

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China’s Central Bank Focuses on Development of Its Own Virtual Currency
China’s Central Bank now wants to develop a virtual currency to compete with the recently unveiled Facebook’s Libra aiming to gain the lead in the development of the cryptocurrency and blockchain technologies.
China’s Central Bank Focuses on Development of Its Own Virtual Currency

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Governments, Step Up Your Cryptocurrency Support, or Get Left Behind

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Governments, Step Up Your Cryptocurrency Support, or Get Left Behind
It’s time for nations around the world to show how they will be positively involved with the crypto technology and the companies working with it, or get left behind.
Governments, Step Up Your Cryptocurrency Support, or Get Left Behind

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Facebook’s Libra vs the World’s Governments: Will Mark Stand a Chance?

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Facebook’s Libra vs the World’s Governments: Will Mark Stand a Chance?
Let’s dig deeper into what Libra is, what it might mean to the global economy, and why it’s currently below the U.S. authorities’ radar.
Facebook’s Libra vs the World’s Governments: Will Mark Stand a Chance?

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ICE CEO Reveals Bakkt Bitcoin Futures Launch is Just Around the Corner

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ICE CEO Reveals Bakkt Bitcoin Futures Launch is Just Around the Corner
According to the CEO of ICE, Bakkt’s parent company, the launch of the firm’s physically settled Bitcoin futures, is on the horizon. The CEO has said that they are waiting for NYFDS approval.
ICE CEO Reveals Bakkt Bitcoin Futures Launch is Just Around the Corner

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United States Regulators Begin Crack Down on Crypto and Bitcoin Crime

Following the announcement of Facebook Libra – a crypto project aimed to replace the US dollar and other fiat currencies, the United States has been up in arms regarding Libra, Bitcoin, and the rest of the cryptocurrency landscape.
The US is finally ready to begin regulating this portion of the financial sector and has begun a widespread crypto crackdown that’s only increased in recent weeks.
Crypto Criminals Fall Like Dominoes Following US Regulatory Push
Suspicions began to arise that heavy-handed regulation from the United States might be on the way the moment crypto exchange Binance announced it would be barring US-based crypto investors from using its flagship website in favor of ushering them to a US-based platform sans many of the altcoins that makes Binance attractive, in partnership with a yet-t0-be-named partner.
US investors make up the largest chunk of crypto investors, and fears that the asset they could be holding may soon be outlawed has caused bearish sell pressure across the space.
And while Bitcoin price is falling, so too are criminals who use Bitcoin and crypto assets in their illicit transactions, one-by-one like dominoes, now that the United States has begun what appears to be a major crackdown on the asset class.

I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….
— Donald J. Trump (@realDonaldTrump) July 12, 2019

Following some scathing tweets by United States President Donald Trump about crypto and Bitcoin being used for criminal activities like cybercrime, drug dealing, human trafficking, and money laundering, and negative comments by Trump-appointed Secretary of Treasury Steven Mnuchin, a number of Bitcoin-using criminals have become targets.
Related Reading | Alleged Silk Road Drug Dealer Arrested For Using Bitcoin For Money Laundering 
It started last week when a Silk Road drug dealer was arrested for allegedly using Bitcoin to launder the money he earned from drug deals over the dark web marketplace. After that, another drug dealer has been arrested for his connection to a crime related to Bitcoin, opiates, and unexplainable Zimbabwean currency stockpiles.
Next, the United States Department of Justice filed a civil lawsuit against “Mr. Bitcoin” Alexander Vinnick, founder and CEO of Russian crypto exchange BTC-e, which has been called a “hotbed” for money laundering and other crime. Even BitMEX, a leader in the space, is being investigated by the CFTC for unlawfully serving US citizens knowingly.

But Bitcoin Holders Fear Being Treated Like Criminals
While these instances are criminals having their crimes catch up with them now that government agencies have caught up with the times and technology associated with crypto. However, the real fear is that the US government begins to start turning their crypto crackdown towards regular US citizens just for holding Bitcoin and altcoins.
Related Reading | The United States’ Distrust in Facebook Libra Is Spilling Into Crypto
An outright ban is possible but unlikely, but at the very least the Internal Revenue Service aims to make crypto investors life that much more difficult, and have issued a threatening letter to 10,000 holders of cryptocurrencies. The letter reminds taxpayers to report crypto-related taxes which in the past the agency has admitted to lacking clarity.
It’s the lack of clarity around both taxes, and the upcoming regulation in the United States that is causing fear, uncertainty, and doubt across the market and has turned the bullish sentiment bearish in a matter of weeks. The days ahead are important for Bitcoin and the rest of the market, especially for US investors and traders.
The post United States Regulators Begin Crack Down on Crypto and Bitcoin Crime appeared first on NewsBTC.
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Croatian Post Went On to Trial Crypto Exchange Service

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Croatian Post Went On to Trial Crypto Exchange Service
The Croatian Post collaborated with Electrocoin to operate a pilot program for a crypto-fiat exchange. It is reported that the pilot project will facilitate crypto owners to exchange Bitcoin (BTC), Ether (ETH), Stellar (XLM), XRP and EOS for fiat money.
Croatian Post Went On to Trial Crypto Exchange Service

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SEC Clears Blockchain Gaming Startup Pocketful of Quarters to Issue ‘Quarters’ Token

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SEC Clears Blockchain Gaming Startup Pocketful of Quarters to Issue ‘Quarters’ Token
The U.S. Securities and Exchange Commission (SEC) has approved the first-ever Ethereum token sale from blockchain-based gaming startup Pocketful of Quarters (PoQ).
SEC Clears Blockchain Gaming Startup Pocketful of Quarters to Issue ‘Quarters’ Token

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New York DFS Establishes New Division to Oversee Cryptocurrency Regulation and Licensing

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New York DFS Establishes New Division to Oversee Cryptocurrency Regulation and Licensing
The New York State Department of Financial Services has just announced the creation of a new section called the Research and Innovation Division. Its main goal will be to regulate crypto-related businesses in the state.
New York DFS Establishes New Division to Oversee Cryptocurrency Regulation and Licensing

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Senate Banking Committee to Indulge in a Crypto Regulation Hearing Next Week

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Senate Banking Committee to Indulge in a Crypto Regulation Hearing Next Week
The crypto community is on a wait-and-see mode awaiting regulation hearings by the Senate Banking Committee expected to shape the future of the nascent crypto industry with more regulations introduced.
Senate Banking Committee to Indulge in a Crypto Regulation Hearing Next Week

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