TFU | Oct. 7-13

Mark Zuckerberg will testify before Congress on Libra and Facebook’s cryptocurrency plans, while several more large companies dropped out of the project; CFTC Chairman Tarbert said the ether cryptocurrency should be treated as a commodity; the SEC halted Telegram’s $1.7B token offering;  Robinhood rolled out interest-bearing accounts; BIS and the Swiss National Bank are exploring the potential for a central bank digital currency in Switzerland; and UNICEF established a fund for donations made in cryptocurrencies. 

TFU | Sept. 30 – Oct. 6

E-Trade followed Charles Schwab and TD Ameritrade in dropping its transaction commission fees; PayPal has withdrawn from the Libra Association amid regulatory and legal concerns, and others may follow; the FSB is scrutinizing the concentration of bank services in three major cloud providers; PayPal became the first non-Chinese company to gain a Chinese payments license; and a Wells Fargo study concluded that new technologies will replace 200,000 bank jobs in the next decade.