Tag Archives: Libra

European Central Bank’s head (and former International Monetary Fund’s head) Christine Lagarde said that the stablecoins market is gaining momentum and the officials need to keep up with changes:“My personal conviction is that giving the developments we are seeing, not so much in the bitcoin segment, but in the stablecoins projects. And we only know of one at the moment but there are others, being explored and underway at the moment. We’d better be ahead of the curve if that happens. Because...

Jack Dorsey starts with the memories of the early days of Twitter. When it was decentralized and some people were saying they should continue that way. Yet, the dangers of the modern Internet influenced the development and Twitter was intensively centralized to solve several troubles.However, now Twitter CEO is seeing some new challenges and he claims that centralized social media cannot solve them. For instance, centralized enforcement of global policies cannot address abuse and misleading...

Saga Monetary Technologies announced on Tuesday it decided to launch its SGA stablecoin that is pegged to a basket of currencies. The Saga Foundation said it was planning it since the last year to become a long term playing asset. However, it is meant to tailor to pretty much different goals of the crypto space.One is acting as a stablecoin as it is and another, to act as a free-float asset. Ido Sadeh Man, founder and chairman at the organization said the main idea behind the whole project...

Sequel to earlier reports that its digital currency was in the works, the Chinese are reportedly set to test its new digital currency electronic payment (DC/EP) in two cities of Shenzen and Suzhou. Sources further indicate that the People’s Bank of China (PBoC) will become the first Central Bank in the world to introduce its digital currency. It has also further emerged that the PBoC is set to work with seven state-owned corporate entities to run this test: three telecoms companies and four...

The European Union has finally made its position clear on the issue of global stablecoins being deployed and used within its borders. The Council and the Commission explained their position in a joint statement. While the authorities acknowledged the importance of technological innovations which can be of great advantage to the financial sector, they also acknowledged the problems and risks that come from such an arrangement. They include money laundering, cybersecurity, privacy consumer...

Kelly Loeffler – the CEO of Bakkt, the institutional crypto trading platform owned and governed by the Intercontinental Exchange (ICE) – has been hired to take over a temporarily vacant Senate seat.Can Kelly Loeffler Push Crypto in Government?Many see this maneuver as a positive step and believe that perhaps crypto will now have a friend in the U.S. Congress. Bakkt was first announced in late 2018, but it took nearly a full year for the platform to get off the ground. After several months of...

As cryptocurrency adoption continues to spread all over the world, several entities including corporate organizations and governments are gradually catching the crypto bug. Based on a report from a French financial media platform Les Echos, France has now joined a list of countries that have shown interest in the crypto sector and have taken it a step further with a decision to float their own digital currency. France will now test its crypto sometime in the first quarter of next year.During...

Not everyone is pleased with bitcoin, but now the European Central Bank (ECB) – which described bitcoin as the “evil” spawn of 2008’s financial crisis – says it’s on the verge of doing something about it.The ECB and Its Digital PlansWhat is this plan? To develop a new centralized cryptocurrency issued by the bank. This isn’t much of a plan when you really think about it considering just how many countries and governments say they’re looking to exact the same steps. China, for example,...

Place/Date: - November 29th, 2019 at 10:09 am UTC · 5 min read Contact: eToro, Source: eToro Photo: eToroIf Facebook’s Libra project is to succeed it should use stablecoins issued by regulated third parties rather than create its own cryptoassets – that’s the conclusion of a new position paper published by eToro.Libra has come under fire from politicians and regulators in the US, UK and Europe, who are worried by parent company Facebook’s scale and power, as well as its previous track...

As we all know, PayPal has been very supportive – for the most part – of Libra, Facebook’s new cryptocurrency project, but the company was also among the first to exit the Libra Association. PayPal has remained relatively quiet regarding the details of its exit, but now chief executive Dan Schulman is sharing his thoughts on Libra and explains why his company refused to engage any further in the project’s progression.Schulman: It Wasn’t Regulation that Spooked UsLibra is arguably one of the...