The reason to develop a SWIFT-like crypto payments network is to combat and mitigate money laundering issues by the use of digital currencies.

The regulators pinned down David Marcus on issues of privacy and trust. Marcus has assured to take all measures protecting the Libra users’ interests.

The blockchain-based ID authentication system will have its application across multiple sectors like healthcare, insurance, banking telecom, universities, etc.

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.