<h1>What Congress May Want To Know About Facebook’s Libra</h1>

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With Facebook set to meet with the Senate on Tuesday and the House on Wednesday, Washington insiders report that lawmakers will be interested in Libra’s classification as a possible exchange-traded fund, what Facebook will do to ensure user privacy, and what the Swiss headquarters of the Libra Association will mean for US oversight of the project.

<h1>FINRA, SEC Explain Delay In Broker-Dealer License Approval</h1>

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In a joint statement, the Financial Industry Regulatory Authority and the US Securities and Exchange Commission explained that the delay in many crypto-related firms looking to obtain a broker-dealer license has to do with digital assets and whether or not they fulfill certain Security Investor Protection Act requirements.

<h1>Doubt Surrounds US Regulators’ Ability To Address Libra Issues</h1>

doubt-surrounds-us-regulators-ability-to-address-libra-issues

In a letter written to the heads of five congressional committees, organizations including the Service Employees International Union and the Consumer Federation of America expressed their fears that regulators are not prepared to address the issues Facebook’s Libra project presents and that the social networking giant needs to present a fuller picture of its plans.

<h1>Blockchain Association To Take Over Kik’s Defend Crypto Initiative</h1>

blockchain-association-to-take-over-kiks-defend-crypto-initiative

The DC-based lobbyist group Blockchain Association will be taking over Defend Crypto, the crowdfunding initiative Kik started to help itself and other crypto-related businesses hit with lawsuits from the US Securities and Exchange Commission. In handing over control, Kik will take back the $5 million it initially contributed to the fund and donate $500,000 worth of Kin tokens.

<h1>Group Of Seven Task Force Created In Wake Of Libra Announcement</h1>

group-of-seven-task-force-created-in-wake-of-libra-announcement

France’s central bank governor Francois Villeroy de Galhau has announced the creation of a Group of Seven central bank governors task force, which will work to produce a study outlining how central banks can regulate Facebook’s Libra cryptocurrency to keep it in line with anti-money-laundering regulations and consumer protection rules.