New Jersey got in on the cryptocurrency offering enforcement action on July 18, suing blockchain-based online rental marketplace Pocketinns for an unregistered sale of securities last year.
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).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.
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.
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.’”
