Tag Archives: Facebook

It appears Libra doesn’t have that many fans. The new digital currency from Facebook is stemming controversy and dislike everywhere it goes, and now the European Central Bank (ECB) is taking what it deems to be necessary action by building its own national digital coin as a means of competing with it. Libra Just Can’t Find FriendsThis isn’t the first time a country (or in this case, continent) has emerged with a new digital currency to fight Libra’s alleged attacks. The first is China, who...

The Libra Association behind Facebook's cryptocurrency is confident in 2020 launch. | Source: Shutterstock Bertrand Perez, the general director of the Libra Association, has expressed confidence that Facebook’s stablecoin will launch during 2020. Speaking to French publication Les Echos, Perez indicated that while the Libra Association is expecting talks with...

Facebook’s Libra, even with all the regulatory hurdles it currently faces, is still going strong and forging ahead with its plans to launch the digital currency next year. A while back, Libra Exec David Marcus, after enduring several hours of questioning from the United States Congress, promised that the Libra will not be launched until all regulatory concerns have been met and satisfied. The head of the Libra Association, the outfit in charge of the Libra project, has iterated this, given a...

Frankreich will Facebook-Währung in Europa blockieren: Frankreichs Finanzminister Bruno Le Maire gibt der von Facebook geplanten Digitalwährung Libra derzeit keine Chancen auf Genehmigung in Europa Frankreichs Regierung will Facebooks Digitalwährung Libra europaweit blockieren. Aus Sicht des französischen Finanzministers Le Maire geht von der für das Jahr 2020 geplante Währung...

It seems that France decided to go rigorous on Facebook’s Libra by entirely blocking the development of it. When Facebook announced their Libra project in June this year, they called it a “global currency and financial infrastructure powered by a version of blockchain – the technology that underpins Bitcoin”.However, a lot of governments were really against even the idea and France was the harshest of them all. French Finance Minister Bruno Le Maire then called out on Libra saying it...

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...