Sunday , July 21 2024
Home / Libra (LBA) & Facebook (page 60)

Libra (LBA) & Facebook

Facebook’s Crypto Scheme Triggers Massive Regulatory Backlash

Facebook's crypto scheme appears to have spurred regulators to take the social media giant's privacy scandals more seriously. | Source: REUTERS / Aaron P. BernsteinFollowing reports earlier today that dozens of state attorney generals were set to officially commence antitrust investigations into Big Tech behemoths Facebook and Google, New York Attorney General Letitia James confirmed that at least one of the companies would indeed face government scrutiny.Unsurprisingly, it's the one that...

Read More »

EU Antitrust Boss Flags Facebook Crypto Libra for Monopoly Risks

The European Union's AntiTrust Chief is scrutinizing Facebook's much-publicized crypto, Libra. | Source: ShutterstockEU regulators are investigating if the Facebook Libra "cryptocurrency" poses a threat to competition by being a potential monopoly.Margrethe Vestager is the outgoing antitrust chief of the European Union. She's gravely concerned that Libra could violate antitrust laws.EU: Facebook Libra must not stifle competitionTo address this, Vestager says European regulators are examining...

Read More »

Amazon’s Secretive Crypto is Facebook Libra’s Biggest Threat: Report

Facebook's much-publicized and criticized crypto 'Libra' will see competition by one of the world's biggest tech companies, Amazon, a report has claimed. | Source: Shutterstock; edited by CCN.Since Facebook announced the Libra cryptocurrency, a couple of other similar projects have been unveiled with all of them being dubbed potential ‘Libra-killers’.They include Venus, an initiative by Binance to 'develop localized stablecoins and digital assets pegged to fiat currencies across the globe',...

Read More »

Privacy Shocker: Did Facebook’s Libra Plans Just Go Up in Smoke?

By CCN.com: As if Facebook didn’t have enough privacy issues, the company now confirms that it has been transcribing the audio chats of its users for quite some time. Facebook Claims It Wasn’t Being Sneaky Facebook claims that the only conversations that were transcribed were from those users who selected that option in the Messenger app. Facebook also claims that it was on for the sole purpose of making sure the transcription application was performing properly. Needless to say, it is...

Read More »

China Can Crush Facebook’s Libra With Its Digital Currency: Huawei CEO

The founder and CEO of Chinese telecommunications giant Huawei, Ren Zhengfei, has dismissed concerns that Facebook’s planned cryptocurrency Libra could dominate the world at the expense of China and its tech firms, Sina reports.Noting that countries have more power compared to internet firms, Zhengfei stated that China could issue its own digital currency that would rival Libra:China can also issue such a currency by itself. Why wait for others to issue it? The power of a country is always...

Read More »

Crypto-friendly Switzerland Outclasses U.S. as Facebook Libra’s Regulator

Switzerland crypto laws have appealed to blockchain enthusiasts for years. Facebook’s head of blockchain, David Marcus, is no exception. He released a statement announcing that he expects the new coin to be governed by Swiss law.“Because the (Libra) Association is headquartered in Geneva, it will be supervised by the Swiss Financial Markets Supervisory Authority (FINMA). We have had preliminary discussions with FINMA and expect to engage with them on an appropriate regulatory framework for...

Read More »

Nike, Telegram, Facebook, and Everyone Else Suddenly Love Blockchain

By CCN.com: Nike is launching a blockchain product. Telegram is launching a blockchain. Samsung is reportedly planning to launch its own token platform; building with Ethereum for the S10 wasn’t enough. Facebook is getting into blockchain. Google still hasn’t done much with it, but JP Morgan now uses it. The list of major corporate names edging in on the crypto space is staggeringly long. Should we be excited or turned off?Big Deal or Nah?For one thing, the development of all these new...

Read More »