Libra (LBA) & Facebook

Zhou Xiaochuan, former governor of the People’s Bank of China (PBoC), gave a speech related to cryptocurrencies at the 10th-anniversary celebration of Senior Finance at the Shanghai Jiaotong University. During this speech, he mentioned that the Central Bank was about to issue a legal digital currency and more than one month after the announcement of this Digital Currency/Electronics Payment (DC/EP), news spread quite wildly.Recently, Mu Changchun, the Deputy Director of Payments and...

France's finance minister Bruno Le Maire says Facebook's Crypto Libra won't be allowed to develop in Europe. | Source: ShutterstockFrance’s Bruno Le Maire has reportedly warned that the country will block the development of Facebook’s in-house cryptocurrency, Libra, in Europe — citing threats to the “monetary sovereignty” of the continent’s governments.The Minister of the Economy and Finance stated today at the opening of an OECD conference on cryptocurrencies:I want to be absolutely clear:...

Switzerland's financial regulator will subject the 'Libra' project to further scrutiny. | Source: ShutterstockSwitzerland’s financial regulator has indicated that Facebook’s cryptocurrency project Libra will be required to meet additional requirements besides getting a payment system license prior to starting operations.In a press release, the Swiss Financial Market Supervisory Authority (FINMA) stated that the various services planned by Facebook’s cryptocurrency initiative had necessitated...

Over the last few months, big organizations and government institutions have shown interest in the crypto space. China’s central bank – People’s Bank of China (PBoC) – has fast-tracked its work on introducing a central bank digital currency (CBDC) to the market. However, China’s attempts to launching a CBDC come as a measure to counter the potential competition by Facebook‘s Libra.Commenting on this, Circle CEO Jeremy Allaire said that China has the most progressive approach towards CBDC....

FINMA "Stable Coins": Ergänzung der Wegleitung für Unterstellungsanfragen betreffend Initial Coin Offerings (ICOs) Die Eidgenössische Finanzmarktaufsicht FINMA veröffentlicht eine Ergänzung zur ICO-Wegleitung hinsichtlich sogenannter „Stable Coins“ nach Schweizer Aufsichtsrecht. Seit 2018 beschäftigt sich die FINMA mit einer steigenden Zahl von „Stable-Coin“-Projekten. Die FINMA bestätigt in diesem Zusammenhang eine Anfrage der Libra...

Over the years, many investors have used several different methods and strategies, to ensure they have a strong enough position in the stock market. One sure way that pretty much guaranteed a significant passive income, was to buy FAANG (Facebook, Apple, Amazon, Netflix and Google/Alphabet) stocks and just watch them grow, as they are wont to do.This method has driven not just profits, but a generally positive sentiment among investors for a few years. However now, it seems those glory days...

Apple has admitted to keeping its eye on bitcoin over these past few months, saying it finds the asset “interesting.” Apple and Crypto… Are They Matching Up?Today is the launch of Apple’s new iPhone 11, and company executives say they’ve been watching bitcoin for some time, with serious interest sparking in the currency earlier this year. The company had previously exhibited a mixed reaction towards digital currency units in the past.Last week, Jennifer Bailey – the vice president of Apple...

John De Mol alleges that Facebook did not negotiate in good faith over addressing misleading Bitcoin advertisements attributed to his name. | Image: ShutterstockThe creator of the Big Brother reality TV show has failed to reach an agreement with Facebook over fake Bitcoin ads that purported to originate from him. The fake Bitcoin ads promoted cryptocurrency-related investments which were allegedly backed or endorsed or had the involvement of the Dutch billionaire John de Mol.According to...

When Facebook unveiled its Libra whitepaper back in June 2019, it already announced that it will be backed by a number of global fiat currencies. However, this time, the social media giant has shared additional details about the Libra’s fiat-pegged options.As per the Bloomberg report, Facebook told the U.S. senators that each Libra token will be supposedly tied to fiat currencies like Euro, Yen, British Pound, U.S. Dollar, and Singapore Dollar. However, the Chinese Yuan is exempted from the...

Facebook's fiat-pegged 'cryptocurrency', the Libra, may reportedly avoid including China's Yuan among its list of supported state currencies. | Source: ShutterstockThe basket of fiat currencies in the line up to back Facebook's Libra "cryptocurrency" may not include the Chinese Yuan.According to Bloomberg, the likely backers include the US Dollar, the Euro, the British pound, The Japanese Yen, and the Singapore dollar.Facebook offered up this potential list after Virginia Democratic Senator,...