In the News
The 2018 midterm elections gave the United States a staggering 116th Congress, important in part for the number of women who assumed office and for the diversity among those women.
The first openly gay member of the Senate. The first two Muslim women elected to Congress. The first two Native American congresswomen. The youngest woman elected to Congress.
Stablecoins are Securities Act of 2019
The bill plans to regulate stablecoins under the Securities Act of 1933.
WASHINGTON – Facebook CEO Mark Zuckerberg told lawmakers that the company would pull out of the Libra Association in the event the consortium launched its proposed cryptocurrency without all needed regulatory approvals.
WASHINGTON — Six hours after lawmakers began grilling Facebook CEO Mark Zuckerberg on his cryptocurrency plans, House members from both sides of the aisle expressed dissatisfaction with the lengthy testimony.
Zuckerberg took questions from the House Financial Services Committee on Wednesday, three months after David Marcus, Facebook's cryptocurrency chief, failed in his testimony to give politicians confidence that the company would wait for a regulatory structure before launching its libra project.
Facebook's crypto-project initiative ‘Libra' has been confronting various hindrances before an actual take-off, talk of the town across the globe as some G7 finance ministers and the central bank governors showed some sort of scepticism on this project but reinstating the project is the most buzzing topic even within the U.S. region. The recent trend is that, in the house of representatives for Texas's 29th congressional district, Sylvia Garcia, announced a draft bill to the House Financial Services Committee on Oct. 18.
On Tuesday, Rep. Sylvia Garcia (D-Texas) proposed a draft bill that may include stablecoins into the scope of the Securities Act of 1933.
TBCASoft, IBM, and SoftBank announced a blockchain-based cross-carrier system (CCPS) for mobile payments. This payment system would enable its users for payments using their phones on local merchants. CCPS is designed for interoperability across different telecom carriers, which should allow the creation of a network of merchants accessible to users of the CCPS system.
WASHINGTON (Reuters) - Facebook Inc CEO Mark Zuckerberg conceded on Wednesday that the company's planned digital currency Libra was a "risky project," but sought to reassure skeptical U.S. lawmakers that it could lower the cost of electronic payments and open up the global financial system to more people.
Sporting a suit and tie, Zuckerberg also fended off aggressive questions on election interference, free speech, hate groups and fake news from members of the U.S. House of Representatives Financial Services Committee.
WASHINGTON (CNN) — A slew of policy changes this week at Facebook shows how the social media giant can act decisively on pressing public policy matters — when it chooses to.
But as CEO Mark Zuckerberg prepares to testify on Capitol Hill on Wednesday, the announcements also highlight some things Facebook is choosing not to do, such as insist on truth in political advertising run on its platform, that has become a source of growing concern to politicians and elected officials.
Facebook CEO Mark Zuckerberg faces a tough test Wednesday as he testifies publicly before a House panel on Libra, his company's controversial effort to launch a global cryptocurrency.
Zuckerberg's testimony, which will be his first before Congress since the Cambridge Analytica scandal, comes at a crucial time for the project.