The cryptocurrency market showed relatively lower volatility over the past 24 hours, as 7 of the top 10 cryptos showed price movements lower than 1%. In contrast, Bitcoin climbed more than 1%, hovering around the $9,300 mark at the time of writing. This is the second time Bitcoin has neared the mark, a yearly high, in less than three days.
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US Senate schedules hearing on Facebook Crypto
Less than 48 hours after Facebook officially announced its plan to introduce a new cryptocurrency, called Libra Coin, the US Senate scheduled a hearing to discuss the crypto. According to a report on MarketWatch, the Banking Committee of the United States Senate will hold the hearing on July 16th. Yesterday, Fed Chair Jerome Powell addressed the issue of the new crypto, saying Facebook consulted with various regulatory bodies around the world before announcing the coin, including the US Federal Reserve.
PwC launches crypto auditing software
Accounting giant PwC, one of the “Big Four,” yesterday announced the release of new software, aimed at auditing crypto-related finance. The tool will be part of the company’s Halo auditing suite, and will “provide assurance services for entities engaging in cryptocurrency transactions.” Upon release, the software supports transactions made with Bitcoin, Bitcoin Cash, Litecoin, Ethereum, XRP and several other cryptocurrencies.
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