Crypto Executives Testify Before US Congress Re Regulation – December 9

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $48,668

Bitcoin price has slipped back into the $48,000s, as it struggles to maintain any recent upwards price movements.

Top-20 altcoins are mostly in the red today, as Ethereum and Cardano fall 4%, Polygon tumbles 11% and XRP stands out with a 4% gain.

Top Stories for December 9, 2021 πŸ”₯

πŸ‘‰ Crypto Executives Testify Before US Congress Re Regulation

Executives from six of the top cryptocurrency companies spoke at yesterday’s US House of Representatives Financial Services Committee hearing, calling for clearer regulation.

Coinbase CFO Alesia Haas emphasized that the industry requires tailored legislation created with open debate, rather than an attempt to fit crypto into existing laws.

Others at the hearing included executives from Circle, FTX, Paxos, the Stellar Development Foundation and BitFury.

πŸ‘‰ WhatsApp Begins Testing Novi Wallet Payments

Meta (formerly Facebook) is testing out its Novi wallet transactions on their messaging platform WhatsApp.

The new feature has been rolled out to a limited audience, enabling users to send and receive payments via WhatsApp instantly, with no fees.

Meta’s digital currency pilot program was launched in partnership with stablecoin company Paxos and major crypto exchange Coinbase.

πŸ‘‰ Polygon Acquires ZK Proof Scaling Platform Mir For $400M

Major Ethereum scaling platform Polygon has acquired yet another of its competitors, this time purchasing zero-knowledge proof platform Mir for $400 million.

The purchase was made with 250 million of Polygon’s native MATIC token, at a market price of $1.60. Polygon acquired a similar platform, Hermez, in August for $250 million.