US Congress and SEC Set the Date to Discuss Facebook`s Libra
On the agenda:
- exchange-traded funds (ETF);
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Facebook`s Libra stable coin release;
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connection between digital assets and securities;
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other things.
It should be mentioned that Libra has always caused concern among the Committee on Financial Services, so it is not a surprise that the discussion of this cryptocurrency is of paramount importance for the upcoming meeting. Committee has always emphasized that federal securities laws apply to all securities, including investment contracts, bonds, and stocks, whether they are digital or not.
The Libra Investment Token could amount to security since it is intended to be sold to investors to fund startup costs and would provide them with dividends. The Libra token itself may also be a security, but Facebook does not intend to pay dividends, and it is unclear if investors would have a reasonable expectation of profits.
As you know, Bakkt platform will be launched in just a few days — on September 23. It will let users place adjustable BTC futures. It is important to understand that such a service will be launched for the first time in the USA, as CME and CBOE did not provide for the physical delivery of coins.
If you want to know more about Bakkt, read our big article.