During the Libra Senate hearing on Tuesday, Libra project lead David Marcus explained that the Swiss Federal Data Protection and Information Commissioner (FDPIC) would oversee data and privacy protections for the Libra Association. Now, the group’s head of communication has stated that Facebook has yet to contact the FDPIC regarding any Libra business.
With Beam set to fork on August 15, the network upgrade will add a new minimum transaction fee and implement an ASIC-resistant proof-of-work algorithm dubbed Beam Hash II.
With new crypto laws set to come into effect at the end of this month, the Financial Markets Authority, France’s financial watchdog, is expected to approve a round of three to four initial coin offerings from crypto-related businesses. These approvals will be the first to take place under the new legislation.
After suffering a security breach last week, Japanese crypto exchange Bitpoint has announced that it will refund 50,000 affected users, who collectively lost about $20 million, when the business reopens trading services on the platform.
Dash-focused wallet MyDashWallet announced it experienced a data breach from May 13 to July 12, with the wallet provider stating that anyone who used MyDashWallet in that time frame should assume the hacker has their private keys.
During the first of two congressional hearings regarding Facebook’s Libra cryptocurrency, project lead David Marcus went as far as to say he’d be willing to take his salary in Libra after intense grilling from Senator Sherrod Brown.
The Financial Conduct Authority, the UK’s financial watchdog, has posted two job listings seeking candidates with in-depth crypto knowledge as the agency looks to fill out its Intelligence Services Team.
While Nasdaq Inc. and Citigroup Inc. saw a burst of blockchain pilots that produced positive results over the last four years, Wall Street has yet to fully adopt the technology, with some believing the price of full adoption still outweighs the benefits.
In the International Monetary Fund’s (IMF) newly published FinTech note titled “The Rise of Digital Money,” the IMF states that banks will face “tough competition” and may even see their services surpassed by tech firms issuing digital money and stablecoins.
As a temporary solution to Ethereum’s scaling issues, Vitalik Buterin has suggested using the Bitcoin Cash blockchain as a data layer where transaction verification takes place.