Federal Reserve Endorses Ethereum-Backed Alternative To Libor
Gesara.news » News » Federal Reserve Endorses Ethereum-Backed Alternative To Libor
News Date: June 14, 2020
Jerome Powell, the current Chair of the US Federal Reserve, recently stated that an Ethereum-backed blockchain project operating as a reference rate called AMERIBOR could serve as a potential replacement to LIBOR.
Goldman Sachs-backed crypto finance startup Circle has published the latest third-party audit of its USD-pegged stablecoin, USD Coin (USDC).
USD Coin is on the Ethereum blockchain. The execution of issuing and redeeming USDC tokens is ensured with ERC-20 smart contract.
Source: forbes.com
A district court in China has reportedly ruled that Ethereum's cryptocurrency is legal property with economic value.
While cryptocurrency is not legal tender in China, people can hold and transfer them like property.
Source: bitcoin.com
H.R.5404, a bill to define the dollar as a fixed weight of gold
H.R. 5404 is a bill introduced by Rep. Alex Mooney (R-WV2) that would bring the U.S. back to the gold standard once and for all. It would take effect exactly 30 months after the bill was passed, to allow an adjustment period in the American economy. Interestingly for a Republican-introduced bill, if the bill was enacted any time after July 2018, that 30-month window would come under the administration of the 2020 election.Source:congress.gov
ISO 20022 migration launched
Swift's ISO 20022 Services for Cross-Border Payments Ready for Customer Testing with Launch of In-Flow Translation.Swift launches translation service for cross-border payments.
In-flow Translation will enable financial institutions to realize the benefits of rich data when they migrate to ISO 20022, even if their counterparts have not yet adopted the standard.
The availability of a test environment means that customers can now prepare for ISO 20022 a year before it goes live.
Source: paymentsjournal.com
American Sovereignty Restoration Bill
H.R.204 - American Sovereignty Restoration Act of 2019:This bill directs the President to terminate U.S. membership in the United Nations (U.N.) and all affiliated bodies. It also ends U.S. participation in all U.N. conventions and agreements.
Funds may be appropriated to facilitate U.S. withdrawal from the U.N. No funds may be made available for contribution to or paid to any U.N. body. No member of the U.S. Armed Forces may serve under U.N. command, and no funds may be used to support Armed Forces participation in U.N. military operations.
President Donald Trump spoke to the 74th session of the United Nations General Assembly. He said "The future does not belong to globalists, the future belongs to patriots."
Sources:www.congress.gov, www.youtube.com
Antiwar Measures From NDAA
The House version of the 2020 National Defense Authorization Act (NDAA) set aside an irresponsibly large amount of money for military spending, but it also added some antiwar amendments and other very basic limitations. The House and Senate versions have now been reconciled into a final bill, and materially all of the limitations that the House voted on and approved.Source:www.activistpost.com
Swiss Banks Launch Cryptocurrency Trading and Custody After Gaining Regulatory Approval
Switzerland's financial regulator, FINMA, has approved two Zurich-based banks to offer a range of cryptocurrency services, including trading and custody. Maerki Baumann Bank subsequently announced the launch of its trading platform for major cryptocurrencies while Incore Bank is offering a range of crypto services.Source:bitcoin.com