Tag Archives: Libra

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...

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....

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...

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,...

Dutch millionaire John de Mol, who created the hit reality television program “Big Brother,” is suing Facebook over phony bitcoin ads. He’s now asking the court to issue a ruling on the case.De Mol Wants the Courts to InterveneFacebook has been at the center of controversy for several years, starting with its alleged ties to Cambridge Analytica which were discovered in 2018. Facebook had purportedly been selling users’ private data to third parties for advertising purposes. Mark Zuckerberg...