PBoC governor Zhou Xiaochuan says that the arrival of Facebook’s Libra could undermine the country’s financial sovereignty and monetary policy.
U.S. lawmakers have put a draft bill that seeks to ban tech companies out of Finance Industry while proposing heavy taxes in the case of violating rules.
Recently, Trump has made several statements about digital currencies, and Facebook’s Libra Coin. He expressed he isn’t a fan of the cryptocurrency market, and that the US Dollar is superior.
As per the new rules the exchange will need to comply with the authorities and report high-value trading and customer details to FinTRAC whenever required.
The blockchain traceability will help to transparently track food production and distribution thereby ensuring they can maintain the highest hygiene for national school students.
The two regulators have issued a statement explaining that they haven’t still come across circumstances that comply with the SEC’s Customer Protection Rule.
The executive notes that the entry of new asset classes in the global financial structure should not exploit the regulatory void and thus demands quick action.
In a major development for the Tezos, Brazilian banking giant will be conducting its billion-dollar STO on using Tezos’ smart contracts platform.
The banks stated that using the blockchain technology will help them reduce the time of processing bank guarantees from a month to just one day.
The financial regulator plans to ban leveraged crypto products which allow investors to trade much above their existing collateral.