1 Libra hearings are full of gunpowder: it is difficult for regulators to trust Facebook
On July 17, the US House Financial Services Committee held a hearing on Libra, which will be issued by Facebook, and asked David Marcus, the head of Facebook Libra, about the concerns. Some MPs said: “Informedly, the so-called innovation is just a scorpion. In fact, Libra is essentially to make more money. Facebook is forming a ‘Crypto Mafia (encrypted mafia).” David Marcus replied: “Members of the Libra Association Not selected by Facebook. Each participating company will be able to fund and serve the Libra network. Each company can build services on the Libra network. We hope to add more members in the future. Government agencies are not currently inviting The list, but there may be in the future. We will make the Libra Association more diverse.”
2.Tether will develop a stable coin USDT in the public chain Algorand
The Algorand Foundation, the public chain project, announced that the stable currency company Tether will integrate and develop the stable USDT in the Algorand network, which Algorand said will bring financial opportunities to decentralized financial assets and financial instruments on the platform through decentralized asset development applications. Form a borderless economy.
3. French Minister of Economy: G7 Finance Ministers Summit will give priority to limiting the risks of emerging currencies, such as Libra
According to Wsau, the French economy minister said that the priority discussion at the G7 Finance Ministers summit included limiting the risk of new currencies, such as Libra, the cryptocurrency of Facebook (FB.O). Libra can’t be a sovereign currency, and G7 is very alert to it.
4. The Banking Regulatory Commission issues a document to regulate supply chain finance: encourage bank insurance institutions to embed new technologies such as blockchain into trading links.
According to the China Securities Journal, the China Insurance Regulatory Commission recently issued the “Guiding Opinions of the General Office of the China Banking Regulatory Commission on Promoting the Supply Chain Financial Services Entity Economy” to major banks and insurance companies. In strengthening the management and control of supply chain financial risks, the Opinions require strengthening the authenticity review: when conducting financial supply chain financing business, banking financial institutions should conduct due diligence and professional judgment on the authenticity and rationality of transactions. Bank insurance institutions are encouraged to embed new technologies such as the Internet of Things and blockchain into the trading session, using mobile sensing video, electronic fences, satellite positioning, and radio frequency identification to remotely monitor logistics and inventory goods to improve the level of intelligent risk control.
5.Founder of Morgan Creek: Completed a letter to a group of investors who manage more than $3 trillion in assets
MORGAN CREEK founder ANTHONY POMPLIANO issued a statement: just wrote a letter to investors tomorrow. Few investment managers in the field of encryption are able to write their true opinions. Obviously, I can. According to previous reports, ANTHONY POMPLIANO issued a letter on July 8 to write a letter to a group of investors who manage more than $3 trillion in assets and are currently studying bitcoin and encryption technology.
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