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Bitcoin Daily: China Regulator Eyes Digital Currency Veteran As Chief; Crypto Firm Founder Charged With ICO Fraud

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The China Securities Regulatory Commission , China’s security watchdog, is setting up a technology regulation bureau and will announce Yao Qian as its new department chief, the Chinese business publication Caijing said on Wednesday (Dec. 11), as reported by Coindesk. Yao was the head of China’s central bank digital currency initiative. .

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Libra Wallet Won’t Launch In Certain Markets

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Facebook’s Libra cryptocurrency and Calibra digital wallet won’t be available in certain markets. The social media giant shared its plans for both projects, which aim to transform financial services worldwide by empowering the more than 1.7 billion people around the world who currently do not have a bank account.

Marketing 108
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Bitcoin Daily: South Korean Crypto Startup Steals $2.7M In Exit Scam; Venezuela Wants World’s Oil Market To Use Petro

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This time, South Korean blockchain company Pure Bit has reportedly stolen $2.7 According to The Next Web , hours after moving all raised funds out of its wallet, the company shut down its website, deleted its social media accounts and kicked all users off its chat group. Another exit scam has hit the crypto world.

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BOE Gov: Facebook’s Libra Will Need Regulation

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Unlike social media … the terms of engagement for innovations such as Libra must be adopted in advance of any launch.”. One thing he wants to do right away is to enhance the coordination between financial regulators in the country. “To must do what London’s markets have always done: evolve,” Hammond said.

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Blockchain Begins Earning Some Bitcoin-Like Skepticism

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For years, throughout the volatility of cryptocurrency values, some industry experts have assured investors and innovators that blockchain is the disruptor in which the market should place its faith. Bitcoin and blockchain creator Satoshi Nakamoto developed these tools nearly a decade ago, he said.

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EU Investigating Libra For ‘Anti-Competitive Behavior’

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European Union antitrust regulators announced that they are “currently investigating potential anti-competitive behavior” related to Facebook ’s Libra. Senate, David Marcus , Facebook’s head of blockchain projects, confirmed Facebook’s commitment that it would not look to bring Libra online in the U.S. lawmakers, led by Rep.

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Using The Blockchain To Bring Banking To Everyone

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Being unable to prove who you are is a big problem for anyone, anywhere on Earth looking to secure any kind of bank account, since global regulators all more or less agree that one has to know their customer. The Power of the Blockchain. The items and transactions will be recorded on the blockchain, and that is very valuable.”.