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Memo to the Members of the House Committee on Financial Services regarding the July 17, 2019 hearing entitled “Examining Facebook’s Proposed Cryptocurrency and Its Impact on Consumers, Investors, and the American Financial System.”
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Washington insiders and Waters’ memo: Here’s what Congress wants to know about Facebook’s Libra next week
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Staff at the US SEC are looking at whether Libra’s structure effectively makes it an exchange-traded fund, according to people familiar with the matter. If the SEC decided that Libra’s design makes it an ETF, Facebook would need the regulator’s approval to launch the project.
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A draft bill entitled “Keep Big Tech out of Finance” has surfaced online, allegedly deriving from within the United States House of Representatives Financial Services Committee. The document’s metadata dates it July 12.
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Trump Fed nominee Judy Shelton: “An approach that permits the issuance of virtual currencies in tandem with government-issued currencies, adapting legal tender laws to permit healthy currency competition—should be put forward.”
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The gold industry is perhaps unrivaled in its wastefulness. A producer has to dig up about 20 tonnes of ore for enough gold to make a wedding ring.
Kiffmeister’s Fintech Daily Digest 07/14/2019
