Bitcoin Dips Below $10,000, Facebook Stresses Libra’s Compliance With FinCEN at Senate Hearing & Other News

  • Bitcoin dipped below the $10,000 value mark for the second time in July following a hearing on Facebook's Libra crypto project.
     
  • At the ongoing hearings on Facebook's Libra cryptocurrency project with the Banking Committee of the United States Senate, lawmakers are interrogating Facebook on privacy and trust concerns. David Marcus, head of Facebook's crypto wallet Calibra, is stressing the project's integrity and regulatory compliance, while some senators are not convinced.
     
  • R3 has partnered with Brazil-based fintech firm Banco Maré to launch a stock exchange that lists shares of tech startups.
     
  • The International Monetary Fund has argued that network effects could spark the blaze for the mass adoption of new digital currencies.
     
  • United States Senators Mike Crapo and Sherrod Brown, the Senate Banking Committee chair and ranking member, respectively, shared their views on crypto regulations. Both appear to want a comprehensive policy for big tech companies.

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