Here is everything what you could have in terms of crypto and Bitcoin regulation in the past week missed, as always, is: Facebook is the US Senate with regard to Libra, will have to answer a German Anti-money laundering specialist unit may be equipped with a significantly more invasive skills, and the SEC is allowed for the first time, a STO on American soil.
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15. July 2019BTC$10.532,00 -0.84%part Facebook Twitter LinkedIn xing mail
Welcome to the regulatory-ECHO.
the US Senate is not Facebook life difficult for
That members of Parliament the initiative of one of the most powerful companies in the world, its own currency set up, burp bad, surprisingly. Already in may of this year, the competent financial Committee of the US Senate to Mark Zuckerberg, David Marcus and co. came up with a series of questions. The parliamentarians wanted to know about how it should be ordered to customer protection and, in particular, the data security, the use of Libra. This Libra-Manager David Marcus on 10. July answered:
Similar to already existing crypto-currencies such as Bitcoin and Ethereum, are transactions on the Libra-Blockchain pseudonym […]. The Association will not be involved in the transaction processing and the user’s personal data store […]. Facebook uses payment information for personalized advertising.
So Marcus stresses the good intentions Libras and the will Libra with U.S. law. Whether the authorities will be satisfied, in the face of data protection scandals, for Facebook in the past, was responsible, as so often, to be seen.
customs special unit to get more powers for anti-money laundering
It is wash, the myth of the “money and terrorist currency Bitcoin” holds stubbornly. Although the crypto-currency no 1 is likely to be a direct trigger for an amendment of the law, in accordance with the contents of the Financial Intelligence Unit (FIU), the Anti-money laundering special unit of the German customs, more skills to get. But friends of the digital money could be of the competence of extension is quite affected. Because, as the daily news reported, should be able to access the FIU in the future much easier on data from the police development than previously.
Therefore, it is planned that the customs unit can’t match reports of suspected money laundering with the common database of the police (INPOL Federal). The authority is also to be informed of any hits as a particularly sensitive method, which are as yet hidden from the FIU. Such data relate findings to Organized crime,
daily news writes with reference to a Ministry spokesman.
the First STO on American soil
The SEC is not just for quick shots known. With Trepidation, the Bitcoin-scene followed now for three years, but repeated Attempts of the ingenious crypto-entrepreneurs to obtain for institutionalized financial products such as Bitcoin ETFs a permission by the competent Securities and Exchange Commission (SEC).
Now the Supreme financial supervision in the country of unlimited possibilities has moved after all, in matters of Security Token Offerings (STO) is a piece of: At 11. July went for the first time in the history of the country is a fully regulated Token Sale to Start (Regulation A+). The block stack has displayed this STX-token participations in a total volume of 28 million US dollars. BTC-ECHO reported.
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More on the topic:
Donald Trump discusses Bitcoin & Facebook Coin block stack gets first SEC-the license for STO Libra: Facebook emphasizes compatibility with U.S. law#Libra#SEC#STO
