📰Right now buyers is defending $BTC $9600 price level, for short term we can stay here, but soon it can be drop to $8800 zone.
📌The main fundamental reason that provoked a panic on the crypto market was the hearing of the Libra case in the US Senate. Facebook has serious complaints about facilitating money laundering through cryptocurrency.
📌David Marcus (Facebook’s blockchain department chief) was unable to answer the questions about how Facebook intends to resolve issues with past leaks of user data (Cambridge Analytica case
) and the social network policy which, as a result, senators say, was allowed to interfere in the US presidential elections from Russia in 2016.
📌The head of the blockchain division of Facebook
was asked why Libra decided to register in Switzerland, instead of the United States and the head of the project did not give a direct and obvious answer to the cryptocurrency community🤷🏼♂️
📰The main from US Treasury Secretary Steven Mnuchin briefing on cryptocurrency regulation:
📌The US Treasury Secretary shares President Donald Trump’s concerns about using cryptocurrency to fund illegal activities;
📌“Cryptocurrencies, such as Bitcoin, have been used to support billions of dollars in illegal activities, such as cybercrime, tax evasion, extortion, haphazard software, illegal drugs, human trafficking ... It’s really a national security issue.”
📌The Treasury has concerns that Libra may be used by terrorist financiers;
📌While Facebook can maintain strict anti-money-laundering standards, there should be no problem launching Libra but Mnuchin has repeatedly stated that the company has a lot of work before it is convinced of its observance;
📌By the way, the value of Facebook’s shares over the past month and a half has grown by 26%;