Less than 12 hours after it was announced, Facebook’s new libra cryptocurrency was already causing the kind of concern in European financial circles that even Bitcoin has not been able to generate.
A day after announcing that it intends to launch a trading service for U.S. traders, leading cryptocurrency exchange Binance banned them from its main platform.
Just as international financial regulators are about to announce stronger "know your customer" requirements for cryptocurrencies, banking giant JPMorgan Chase has released software designed to help people avoid them.
Cryptocurrency and blockchain enthusiasts were excited about the announcement this week that President Donald Trump plans to name Office of Management and Budget Director Mick Mulvaney, a longtime supporter of cryptocurrencies and blockchain technology, as his interim White House chief of staff before the end of the year. As a congressman, Mulvaney was a co-founder of the Congressional Blockchain Caucus. When it comes to actually embracing cryptocurrencies, the U.S. has been generally skeptical. As a recent opinion piece in the Harvard Business Review by law firm Jones Day blockchain initiative leaders Stephen J. Obie and Mark W. Rasmussen noted: “Without clear regulations, cryptocurrency innovation in the United States is being stifled.…