Crypto News 

Wells Fargo tests cryptocurrency for internal transactions

“The currency, called Wells Fargo Digital Cash, will be linked to the U.S. dollar and transferred using the bank’s distributed ledger technology to keep track of payments within its internal network” writes Midwest Communications Inc for 95kqds.com. (Reuters) – Wells Fargo & Co said on Tuesday it will pilot its own digital currency powered by blockchain to help move cash across borders and between branches in real time.The system will allow the bank to bypass third parties in the asset transfer process saving costs and time, said Lisa Frazier, head…

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News 

Germany’s Scholz: We cannot accept parallel currencies such as Facebook’s Libra

“BERLIN (Reuters) – German Finance Minister Olaf Scholz said on Tuesday policymakers could not accept the emergence of parallel currencies such as Facebook’s planned Libra, adding that Berlin would reject any such plans” writes Midwest Communications Inc for 95kqds.com. “We cannot accept a parallel currency,” Scholz said during a panel discussion in Berlin.France and Germany on Friday said Facebook’s Libra currency posed risks to the financial sector that could block its authorization in Europe, and backed the development of an alternative public cryptocurrency.Facebook’s planned Libra is the most well-known of…

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Crypto News 

New Phone Comes Equipped with Bitcoin Cash Wallet

“The fact that it has a bitcoin cash wallet and not one designed for its parent currency bitcoin makes more sense than one might think” writes Nick Marinoff for livebitcoinnews.com. It has a bitcoin cash (BCH) wallet built into it to potentially inspire its customers to get into cryptocurrency usage and trade options.Ver explains that he views bitcoin as a failure of sorts, and ultimately believes bitcoin cash to be the “truer” version of Satoshi Nakamoto’s invention. Those seeking to pay for their phones with bitcoin cash can expect to…

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Crypto News 

Could Crypto Be Compliant With Sharia Law? Experts Answer

“The haram vs. halal crypto debate has been ongoing since Bitcoin’s initial surge in popularity” writes Max Yakubowski for cointelegraph.com. Hence, a coin is not the only type of crypto assets, there are other types of tokens for other purposes as well.Moving forward, I see that Muslim governments would be more interested in issuing their national currencies in the form of crypto assets. Source: cointelegraph.com

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Crypto News 

$250K Bitcoin Price Prediction Is Now ‘Conservative,’ Says Tim Draper

“Major Bitcoin (BTC) bull Tim Draper now thinks that his own prediction that BTC price will hit $250,000 by 2022 may be understating the power of Bitcoin” writes Helen Partz for cointelegraph.com. On Aug. 9, the investor predicted that Bitcoin price will hit the threshold by Q1 2023.Draper’s new claims follow his recent forecast that there might be a slight delay in Bitcoin’s path to a $250,000 price. Source: cointelegraph.com

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Crypto News 

Opinion: We Want Bitcoin Results, Not Predictions

“Is it safe to say that people are tired of talking about bitcoin?” writes Nick Marinoff for livebitcoinnews.com. In addition, bitcoin has shown major improvements this year considering how “in the trash” it was by the time 2018 said goodbye.Others, such as venture capitalist Tim Draper, have commented that one unit of bitcoin could hit the six-figure range by 2022, spiking to as much as $250,000 each.Tom Lee, as reported by Live Bitcoin News earlier today, is back in the limelight again, commenting that the currency is about to hit…

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News Regulators 

Central Banks to Meet With Libra Founders in Switzerland on Monday

“Officials from the European Central Bank (ECB) and 25 global central banks will meet with Libra to assess the financial stability risks of the project” writes Helen Partz for cointelegraph.com. According to Coeure, the ECB started to work on its little-known digital currency project plan before the launch of Libra.At the same gathering in Helsinki, French Finance Minister Bruno Le Maire stated that Europe should consider its own public digital currency to challenge Libra. Source: cointelegraph.com

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Wake up, US Federal Reserve! China just showed how digital currency is done

“Just like physical newspapers have not been completely replaced by digital newspapers, physical cash cannot be completely substituted by digital cash in the near future” writes Henry He for venturebeat.com. I believe China is creating a new public infrastructure for payments that is completely open — like cash payment.I believe China’s DC/EP product is designed to replace the mobile payment systems in China. Source: venturebeat.com

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News Regulators 

Swiss say Facebook’s digital currency plan will face hurdles

“Facebook unveiled a proposal in June to create a digital currency similar to Bitcoin for global use” reports thebusinessjournal.com. published on September 11, 2019 – 12:41 PM Written by Associated Press (AP) — Facebook and its partners have asked financial authorities in Switzerland to evaluate their plan to create a new digital currency to be called Libra.The company said it would set up a nonprofit association headquartered in Geneva with its partners to oversee Libra, putting it under Swiss regulatory authority.The authority, known as FINMA, says the proposal has to…

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AUD Markets News Regulators 

US-China trade thaw sparks risk rally, euro awaits ECB meeting

“The other major driver for currency markets on Thursday is a meeting of the European Central Bank, where expectations of easing have weakened the euro” reports cnbc.com. The yen fell almost 0.2% to 108.00 per dollar, its weakest since Aug. 1.The thaw in hostilities supported broader risk appetite in global financial markets with the Chinese yuan jumping 0.2% to 7.0861 in offshore trade, its highest in three weeks.”Market reaction will likely hinge on the confirmation of a rate cut,” said David de Garis, a director of economics and markets at…

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