Joel Telpner, Chair of Fintech and Blockchain Practice Group at Sullivan & Worcester LLP, isn’t surprised that Facebook is getting a grilling on Capitol Hill. In fact, he’s pleased.
“These are attacks on Facebook itself that really has nothing to do with crypto has nothing to with Libra it’s just Facebook being bad boys you know [they’re] concerned about [their] privacy policies,” he said.
His point, quite simply, is that any scrutiny of crypto in DC is vital.
“Parts of the hearing so far where they’ve actually been able to get into conversations about Libra and about crypto have been interesting because on that side of it you’ve seen some Senators that have been skeptical,” he said. “But overall it’s kind of it’s been encouraging to hear some of the senators talking about ‘Hey, this is a good thing.’”
Telpner joined CoinDesk editor Pete Rizzo in a wide-ranging conversation about the legality of Libra and, in the end, what Facebook and the Government will have to do to come to terms with the future of crypto.
You can read our complete Libra coverage here and watch our CoinDesk LIVE interviews here.
The Securities and Exchange Commission (SEC) lawsuit against Ripple, related to the sale of the XRP token, has been one of the most controversial and hotly debated topics in the cryptocurrency industry. The lawsuit alleges Ripple conducted an unregistered securities offering by selling XRP, which is the cryptocurrency used by the Ripple network. The case…
Nov 5, 2020 at 08:11 UTCUpdated Nov 5, 2020 at 08:44 UTCBitcoin prices since Jan. 1 2020(CoinDesk BPI)Bitcoin’s price rally is powering on despite the U.S. elections being as yet undecided. The top cryptocurrency by market value jumped to a 33-month high of $14,558 soon before press time, taking the year-to-date gains to 101%, according…
In the early days of cryptocurrency, existential risk was the dominant concern. We woke up in the morning wondering whether some government might ban it, or if some major stablecoin like tether could collapse, or if a major hack would wipe out an entire chain. But as crypto adoption advanced and became more integrated into
NEW YORK — NFT.NYC 2023 brought the heat to Manhattan.The three-day-long flagship non-fungible token (NFT) conference took place as temperatures ranged between 80 and 90 degrees Fahrenheit, uncharacteristically hot for mid-April.The main programming took place at New York City's Javits Center, a convention venue on the west side of Manhattan where over 6,000 attendees flowed…
The central bank doesn’t want to pull back asset purchases just yet, Powell said Wednesday.Federal Reserve Chair Jerome Powell(Federal Reserve, modified by CoinDesk)Jan 27, 2021 at 10:28 p.m. UTCFed Chair Powell: ‘We’d Welcome Higher Inflation’U.S. Federal Reserve officials voted Wednesday to keep monetary conditions at historically loose levels while waiting for the economy to heal.Chairman…
news A 46-year-old resident of the U.S. state of New Jersey has been charged with running an unlicensed bitcoin exchange. William Green of Monmouth County was indicted on one count of operating an unlicensed money transmitting business via the operation of a website called Destination Bitcoin. Through the site, he allegedly accepted more than $2…
news OneConnect Financial Technology, the fintech arm of China’s largest insurance company, filed a prospectus on Wednesday for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). The firm plans to list its shares on NASDAQ. OneConnect’s filing with the SEC today called for a target raise of $100 million, though…
news Asian banking giant DBS and multinational commodity trading firm Trafigura Group are tapping blockchain to facilitate global trade. Alongside the Singapore government and the International Chamber of Commerce, these firms are looking to reduce the number of paper-based processes involved in global trade. Distributed ledger technology firm Perlin is providing the blockchain background to…