Dublin 7th July 2022 Fran Rooney, Executive Chairman of the global Health Platform BlockNubie, today urged President Biden to enact crypto legislation governing so-called stablecoins amid $2 Trillion Terra Luna-Led Bitcoin, Ethereum, BNB, XRP, Solana, Cardano And Dogecoin Price Crash. Executive Chairman Mr. Rooney said that “Crypto is a critical element to the future global economic financial ecosystem and stability is the key factor. The President’s Working Group on Financial Markets must immediately introduce certainty and address the uncertainty surrounding both crypto and stablecoins by passing legislation that governs digital assets pegged to FIAT. This new regulation strengthens the framework to help fight money-laundering, reducing the risks of fraud and makes crypto-asset transactions more secure”
The U.S. federal government is working on stablecoin legislation with Congress that could become law by the end of the year. Deutsche Bank issued a surprise bitcoin price prediction this week, and reports have emerged the Biden administration could pass crypto legislation governing so-called stablecoins such as the recently collapsed terraUSD and its support coin luna as soon as this year.
The stablecoin market has grown exponentially in recent years with the largest stablecoin tether now boasting a market capitalization of almost $70 billion. Stablecoins — cryptocurrencies that are price pegged to traditional currencies such as the U.S. dollar — are used to facilitate payments and ease people’s entry to certain cryptocurrency exchanges that don’t support direct deposits.
“Amid the sudden downturn of the algorithmic stablecoin terraUSD that used cryptocurrency luna to maintain its U.S. dollar peg sent shockwaves through the crypto market and galvanized regulators to better govern the technology and protect users. The EU have been quick to move forward with the Markets in Crypto Assets Bill (MiCA) to enact legislation which will ensure a harmonized market, provide legal certainty and ensure high standards for consumer protection” concludes Fran Rooney
BlockNubie (https://www.blocknubie.ie) provides Secure Control, Access and Monetization of Healthcare Records.
Powered by blockchain technology and Artificial Intelligence (AI), Blocknubie creates a cost-efficient, accessible, preventative healthcare platform, protected by leading-edge Self-sovereign Identity (SSI) solutions for self-owned medical data evolving globally.
Blocknubie enables patients to have secure access and control of their healthcare records from multiple healthcare organizations and provides healthcare professionals with medical data enabling more rapid and accurate prescribing of actions to be taken and enabling patients to monetize their data for research purposes.
BlockNubie provides leading-edge technology solutions to enable organizations to stay at the forefront of the technological revolution and to ensure that they maximize competitive advantage. Blockchain and Artificial Intelligence (AI) offers a real opportunity in healthcare, not only to automate some of the problem-solving carried out by medical professionals, but also to make quicker and more informed decisions with custodial access and security of healthcare data. This will improve the cost of healthcare and improve outcomes simply because decision making will happen earlier, faster, better and in a more secure manner. Blockchain and AI are technologies of strategic importance and key drivers of economic development. Blockchain solutions and AI can solve many societal and corporate challenges. BlockNubie accelerates organization’s success by unlocking the hidden value in data. By scaling powerful product solutions to meet demand, BlockNubie will keep costs low and performance high. BlockNubie makes healthcare more affordable for everyone, everywhere.
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Fran Rooney is co-founder and Executive Chair of the Company and an extremely successful businessman and entrepreneur. He is a Barrister-at-Law and a qualified Chartered Accountant. He built Baltimore Technologies to become a global enterprise listed on NASDAQ and London Stock Exchange with a market capitalization of $13.6 billion in the data security and cryptography industry. He wrote software code in his early career and is a qualified Systems Analyst. Mr Rooney has led a number of organisations to successful capital market listings. He has considerable experience at Chairman and CEO level on the NASDAQ, the London Stock Exchange and London AIM Market. Mr Rooney also has substantial experience with other capital fundings such as STO, IPO & ICOs.