bitcoin
Bitcoin (BTC) $ 44,879.00 7.16%
ethereum
Ethereum (ETH) $ 3,128.02 9.40%
tether
Tether (USDT) $ 1.00 0.17%
cardano
Cardano (ADA) $ 2.12 10.91%
binance-coin
Binance Coin (BNB) $ 382.14 7.28%
xrp
XRP (XRP) $ 0.959373 11.54%
solana
Solana (SOL) $ 139.52 13.69%
polkadot
Polkadot (DOT) $ 30.79 9.90%
usd-coin
USD Coin (USDC) $ 0.999709 0.32%
dogecoin
Dogecoin (DOGE) $ 0.218646 9.52%
avalanche-2
Avalanche (AVAX) $ 63.82 12.80%
binance-usd
Binance USD (BUSD) $ 0.999414 0.39%
terra-luna
Terra (LUNA) $ 29.78 16.79%
uniswap
Uniswap (UNI) $ 22.32 8.86%
chainlink
Chainlink (LINK) $ 25.05 12.74%
cosmos
Cosmos (ATOM) $ 40.03 1.84%
litecoin
Litecoin (LTC) $ 163.95 9.68%
bitcoin-cash
Bitcoin Cash (BCH) $ 567.89 11.03%
algorand
Algorand (ALGO) $ 1.77 16.35%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 44,802.00 7.28%
filecoin
Filecoin (FIL) $ 78.21 7.31%
internet-computer
Internet Computer (ICP) $ 51.04 12.23%
matic-network
Polygon (MATIC) $ 1.21 11.39%
stellar
Stellar (XLM) $ 0.292991 9.92%
tron
TRON (TRX) $ 0.094284 11.26%
ethereum-classic
Ethereum Classic (ETC) $ 51.53 9.70%
vechain
VeChain (VET) $ 0.098777 12.97%
ftx-token
FTX Token (FTT) $ 54.75 14.06%
dai
Dai (DAI) $ 0.9984 0.56%
theta-token
Theta Network (THETA) $ 5.58 11.95%
compound-ether
cETH (CETH) $ 62.63 9.45%
pancakeswap-token
PancakeSwap (CAKE) $ 20.96 7.32%
tezos
Tezos (XTZ) $ 5.64 12.57%
okb
OKB (OKB) $ 17.57 6.34%
cdai
cDAI (CDAI) $ 0.021613 0.29%
compound-usd-coin
cUSDC (CUSDC) $ 0.022173 0.33%
monero
Monero (XMR) $ 245.83 10.34%
bitcoin-cash-abc-2
Bitcoin Cash ABC (BCHA) $ 235.38 1.75%
crypto-com-chain
Crypto.com Coin (CRO) $ 0.173188 8.32%
eos
EOS (EOS) $ 4.51 14.59%
ecash
eCash (XEC) $ 0.000221 5.00%
quant-network
Quant (QNT) $ 311.42 12.95%
aave
Aave (AAVE) $ 314.46 11.45%
staked-ether
Lido Staked Ether (STETH) $ 3,091.97 9.47%
elrond-erd-2
Elrond (EGLD) $ 204.21 15.41%
near
Near (NEAR) $ 8.54 7.47%
iota
IOTA (MIOTA) $ 1.39 14.49%
the-graph
The Graph (GRT) $ 0.750051 10.70%
shiba-inu
Shiba Inu (SHIB) $ 0.000007 4.52%
hedera-hashgraph
Hedera Hashgraph (HBAR) $ 0.350784 17.34%
Those who believe in Bitcoin also believe in intelligence.
11

Diem struggling to win over officials in Washington despite rebranding efforts

Diem’s push to launch stablecoins and a global payment system might suffer from the seemingly brewing anti-crypto sentiment among key U.S. policymakers.

Facebook’s ambitious digital currency payment project Diem is yet to get off the ground despite concerted attempts to win over financial regulators.

According to The Washington Post on Friday, Diem is facing difficulties smoothening regulatory wrinkles with senior policymakers in the Biden administration.

Even with the full weight of Facebook’s significant lobbying power in Washington, the digital currency project is yet to get off the ground.

Reports indicate that David Marcus, Facebook Financial (F2) head, met with regulators in Washington earlier in September. According to anonymous sources reportedly present at the meeting, Marcus argued for the importance of crypto in broadening access to financial products while highlighting the benefits of Diem’s payment app Novi.

Diem representatives quoted by The Washington Post say regulators are pleased with some of the design changes made by the project. Indeed, Diem has gone through significant alterations to its original mandate published back in 2019.

Originally christened Libra, the Facebook-backed endeavor was initially designed to be a global payment system that included a “Facebook Coin” backed by a basket of fiat currencies.

In the Diem paradigm, the project is looking to launch individual fiat-pegged digital currencies, beginning with a U.S. dollar-pegged stablecoin. Diem has also sought to address regulatory fears concerning money laundering.

Related: Facebook-backed Diem Association reportedly to launch stablecoin pilot in 2021

However, feelers from Washington say key policymakers like Treasury Secretary Janet Yellen and several members of Congress are against privately issued stablecoins. Indeed, Senator Elizabeth Warren recently referred to crypto as the new shadow bank while expressing concerns over stablecoins.

For Diem and other private stablecoin projects, the growing concern over crypto within the context of money market funds outside of the legacy banking system framework might constitute significant regulatory problems.

Meanwhile, legacy finance stakeholders continue to push for accelerated central bank digital currency, or CBDC, development.

Source link

Related Posts

Leave a Reply