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U.S. Regulation is Still Anti-Crypto

Rachel McIntosh, reporter at Finance Magnates, joined BLOCKTV to break down the top crypto and blockchain stories of the week.

1. Shopify and Tagomi Join Libra Association

Following the departure of high-ranking payment processors including PayPal, Mastercard, eBay, Stripe and others from Facebook’s Libra project, as members of its governing body, the Libra Association, a few new members are signing on. E-commerce giant Shopify and crypto trading platform Tagomi are the latest to make waves in this saga, in the news that flew under many people’s radar. Could this mean resurrection for the project that created major disruption when it was announced, only to feel like it has come to a halt?

2. SEC Rejects Wilshire Phoenix’s Bitcoin ETF

Once again, the U.S. regulator has rejected a proposal to create a bitcoin-backed ETF, citing fraud and market manipulation as concerns. The US Securities and Exchange Commission (SEC) on Wednesday officially rejected the proposal by New York-based investment-management firm Wilshire Phoenix. The bid by Phoenix was initially launched in mid-2019, and the SEC’s ruling was repeatedly delayed.

3. New Jersey Bill Seeks Mandatory Licensing for Crypto Firms

A New Jersey lawmaker has introduced a bill seeking to mandate licensing for crypto and blockchain businesses operating within the state. The bill called the Digital Asset and Blockchain Technology Act, was introduced to create clear regulations for the growing industry that don’t yet exist, per the official announcement.

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