• Rep. Alexandria Ocasio-Cortez (D-NY) questioning Facebook's David Marcus on Libra before the House Financial Services Committee, July 17, 2019 (via C-SPAN).
    Libra,  United States

    News analysis: Less-hostile House politicizes Facebook Libra debate

    Facing questions about speed and power, David Marcus refused to make promises about the cryptocurrency

    Facebook’s David Marcus got a warmer reception from the House yesterday than he did in the Senate on Tuesday. Not that it was friendly, but the questions focused more on the power Facebook would gain from its Libra cryptocurrency, and getting Marcus to commit to working at the pace of Washington, D.C., not Silicon Valley.

  • U.S. Senator Sherrod Brown (D-OH). Caricature by DonkeyHotey (Flickr.com/photos/DonkeyHotey)
    Libra,  United States

    Sen. Sherrod Brown leads attack on Facebook’s David Marcus during Libra hearing

    The Ohio Democrat led a senatorial gang-up on the social media executive during his testimony before the Senate Banking Committee

    Facebook is in for a rough ride with its Libra cryptocurrency project. If that wasn’t clear from the president’s anti-cryptocurrency Tweets last week and Treasury Secretary’s comments on Monday that they are “a national security issue,” it was very obvious after the Facebook executive spearheading its Libra payment system was treated like a bipartisan punching bag in a hearing before the U.S. Senate Banking Committee on July 16.

  • Congress
    United States

    Eyeing the future, US Congress moves to define ‘blockchain’ and ‘cryptocurrency’

    Senate action on Blockchain Promotion Act seen as vital to growth

    The U.S. Senate Commerce, Science and Transportation Committee voted to approve the Blockchain Promotion Act of 2019 on July 12, giving the Commerce Department one year to come up with “a recommended definition of the distributed ledger technology commonly known as ‘’blockchain technology.’”

  • Alex Frenkel, general manager of Kin Ecosystem (via LinkedIn)
    Alt coins

    Despite SEC lawsuit against Kik, Kin Ecosystem is growing, claims GM | Interview

    Alex Frenkel sees developer interest in tokenomics gaining steam

    Kin Ecosystem is alive and well, according to its general manager, Alex Frenkel. That’s despite the Securities and Exchange Commission lawsuit against Kik Interactive, the company which created Kin. The SEC claims the Canada-based messaging app sold unregistered securities to U.S. investors during its 2017 ICO. The complaint stopped short of alleging that the Kin token—which is governed by Kin Ecosystem—is a security.