Top stories in the Crypto Roundup today: Facebook’s Libra to see another U.S. Congressional hearing, top bitcoin analyst studies price effect of the Bitcoin block reward halving and 48 crypto exchanges have been approved in the Philippines.

At the time of writing, bitcoin is currently trading at $11,301.51 (+4.93%) with a daily volume of $4.19bn and ether (ETH) is trading at $312.51 (+1.89%) with a daily volume of $1.98bn. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 4,921.14 (+1.78%).

Facebook’s Libra to See Another U.S. Congressional Hearing

The U.S. House Financial Services Committee will host a hearing discussing Facebook and it’s subsidiary Calibra’s new blockchain project, Libra, on July 17, according to Chairwoman Maxine Waters (D-CA).

Importantly, the scheduled hearing will come a day after the Senate Banking Committee discusses Libra. Although witnesses are yet to be confirmed, it is expected that Libra co-lead David Marcus will testify in at least one of the hearings according to The Hill.

Top Bitcoin Analyst Studies Price Effect of Bitcoin Block Reward Halving

Vijay Boyapati, a respected bitcoin (BTC) analyst in the crypto community, explored the potential effects of next year’s Bitcoin block reward halving on its price in a ten-part Twitter thread.

Concluding that “the Bitcoin halving is a key fundamental driver of Bitcoin’s monetization,” Boyapati showed that the BTC price has in the past surged roughly twelve months before a halving event. This, he argues, may be the reason for BTC’s recent price surge.

There Are Now 48 Crypto Exchanges Approved in the Philippines

The Philippines has seen the number of approved crypto exchanges grow substantially recently. As well as 11 exchanges registered by the country’s central bank - the Bangko Sentral ng Pilipinas - there another 37 exchange operates licensed by the Cagayan Economic Zone Authority (CEZA). 

The government-owned and controlled body, which operates a Special Economic Zone and Freeport, has according to CEZA, “been offering foreign companies incentives and advantages to registering their businesses there.”

Raido Finance Announces Digital Crypto Platform for EU Countries

Raido Finance has announced that it has started working on a digital crypto platform specifically for those in European Union countries. The modern capital market is an unlimited digital space where people can invest their money, buy products, make payments anonymously and, using smart contracts, operate immediately. However, Raido Finance are well-aware that it is far from a perfect system, and are now determined to solve some of the biggest flaws. This new EU platform aims to minimize some of the largest problems in the digital transaction process, such as speedy payments generating high commission costs, and anonymous payments resulting in users being unable to spend a currency, forcing them to look elsewhere to confirm its legality.

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