The price of crypto currencies, bitcoin fell by 11% to US $ 9,590 on Tuesday morning when the United States (US). Even though the value of bitcoin had surged significantly two weeks ago due to positive sentiment for the launch of Libra by Facebook next year. Besides bitcoin, Eterheum also experienced a decline of up to 12% during the trial.
The emergence of news of the launch of Libra, made bitcoin prices rise and fall over the past few months. Quoting CNN Business on Tuesday, the banking committee in the US held a hearing to discuss the legitimacy of Libra.
But since Libra was announced, financial regulators around the world have warned that there are risks to privacy towards consumers.
There is a potential threat to the central bank and global financial markets with the emergence of Libra. The chairman of the Banking Committee, Mike Crapo, explained the parliament was worried about Libra from other crypto currencies. This is because there are 2.4 billion Facebook users who are feared to buy the digital currency quickly, but until now there are no clear rules regarding cryptocurrency.
"Libra's announcement encourages policy makers and regulators to be able to set clear rules," Crapo said on CNN Business, Wednesday (07/17/2019).
The CEO of Bittrex is one of the e-commerce blockchain, Bill Shihara explained that the existence of clear regulations will actually help protect the market and create many new innovations.
He revealed that his company and other companies had spent hundreds of thousands of dollars to follow financial regulations for digital money, he considered that currently the rules are still mixed and overlapping.
"What I like about Libra is that it 'forces' regulators to provide certainty. This will help the United States (US) to compete in the blockchain sector," he explained.
He predicts the price of bitcoin still has the potential to decline, because Libra will be discussed again before the Financial Services Committee on Wednesday.
Hopefully this article post will be a motivation for me and my colleagues to continue to be able to express through steemit as a place to experiment, especially in terms of writing and other content
Thank you for :
