• The Bank of International Settlements (BIS) building in Basel Switzerland sure doesn't look like a dreary place to work every day, right? (Photo by Mario Botta via Wiki commons).
    Libra,  Regulation

    Libra Association and major banks grilled on stablecoins

    Stablecoin creator JPMorgan and a consortium of major financial institutions aiming to launch its own payment coin face the Bank for International Settlements

    Facebook once again defended its Libra cryptocurrency, this time in front of a group of central bankers at a conference on the regulation of stablecoins held in Switzerland on September 16.

  • It's all rainbows and alpacas for eToro CEO Yoni Assia at the Ethereal Summit in Tel Aviv, September 15, 2019 (photo by Molly Jane Zuckerman for Modern Consensus).
    Technology

    How blockchain will ‘eat’ finance: An interview with eToro CEO Yoni Assia

    Modern Consensus sat down with Yoni Assia, the CEO and founder of social trading network eToro, at this weekend’s Ethereal Summit in Tel Aviv

    Yoni Assia is quite confident that traditional finance will eventually fully transition over to blockchain—in his oft-repeated words, “it's going to eat their existing financial systems.” Having begun trading at just 13 years old, the eToro CEO brought the social trading platform into the crypto space in 2010, with a further step towards adoption in the launch of the eToroX crypto exchange earlier this year.

  • Europe's fiat money (via Pixabay).
    Europe

    EU banks must get speed up blockchain investment, warn Lagarde, Bain

    The consulting giant and likely European Central Bank president say blockchain FinTech is coming fast

    European banks must speed up their investments in blockchain technology in order to recapture their own capital markets from American financial institutions, global consulting firm Bain & Company warned in a report released on September 3. A day later, International Monetary Fund (IMF) chief Christine Lagarde told the European Parliament’s Economic and Monetary Affairs Committee that with bank profits low and FinTech firms gobbling up investments, EU central banks must welcome new technologies—including digital currencies—in order to remain competitive.

  • 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.

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