Lawmakers circulated a bill just ahead of hearings on Facebook’s Libra cryptocurrency that would prohibit companies with over $25 billion in annual revenue from launching a digital financial asset.
Investors eye how low rates, flat yield curve will affect bank profits; agency is determining if it has oversight power over Facebook’s planned cryptocurrency.
Almost two years after the Equifax breach led to a congressional uproar but minimal policy change, the protracted fight to enact data security and privacy reform has a new bogeyman.
As Congress and the SEC were taking steps to regulate alternative currencies, they required a deep knowledge of the cryptocurrency market and technologies. For those who put off their crypto education, Facebook's Libra is a wake-up call.
For the second straight day, concerns about Facebook's cryptocurrency project dominated lawmakers’ questioning of Federal Reserve Chairman Jerome Powell.
The Justice Department is investigating the bank for possible money laundering violations; the Fed chair says Facebook’s plan raises “serious concerns.”
In the eyes of regulators, Facebook and bitcoin have a lot in common. Both challenge citizens' relationship to privacy, and both use technology in ways that current laws were unprepared for.
