G7 Reports Stablecoins Like Libra Threaten Financial Security
According to the BBC, the G7 group of nations has drafted a report outlining nine major risks that digital currencies, such as Facebook’s proposed Libra, pose to the global financial system.
Libra Association - Visa and MasterCard Have Second Thoughts
Libra internal struggles. Visa and MasterCard consider leaving.
Facebook’s Libra Developers Release Initial Roadmap
The developers behind Facebook’s cryptocurrency project Libra have released their initial roadmap outlining the milestones they plan to achieve prior to the mainnet launch of the Libra blockchain.
Facebook’s Libra Creating Shadow Monetary Ecosystem Warns FAC
Facebook’s creation of cryptocurrency Libra will spawn a ‘shadow banking’ system outside of sanctioned financial markets according to US banks.
What Happened: US Committee Hearing with the SEC on Crypto and Libra
The United States House of Representatives Financial Services Committee held a hearing on Sept. 24 with the Securities and Exchange Commission’s (SEC) five commissioners. Vital topics covered in the hearing include the consideration of cryptocurrencies as securities, regulation of Facebook’s Libra and Calibra, and insider trading.
German Policymakers Cannot Accept Facebook’s Libra
The German cabinet is expected to adopt a comprehensive blockchain strategy with the aim of digitally enhancing its economy. The strategy also consists of plans to tackle risky new technologies such as Libra, which German policymakers fear could become an alternative currency.
Central Banks to Cross-Examine Libra’s Founders in Switzerland
The European Central Bank (ECB) officials and 25 global central banks will be meeting with Libra’s founders to assess the project.
France Seeks to Block Development of Libra in Europe
While speaking at a recent conference in Paris on virtual currencies, Bruno Le Maire, French Finance Minister said, “In these conditions, we cannot authorise the developments of Libra on European soil.
Switzerland’s New Stablecoin Guidelines: 3 Things You Should Know
The Swiss Financial Market Supervisory Authority (FINMA) issued new guidelines for stablecoins added as a supplement to its existing guidelines for initial coin offerings (ICOs) to outline how stablecoins are treated under the Swiss supervisory law.
Facebook’s Libra Encouraged to Exclude the Chinese Yuan Being Tied to the Stablecoin
While Facebook is facing regulatory approvals for its Libra project, Facebook told US senators that the initial group of currencies that Libra will be likely backed by the US dollar, Euro, Yen, British Pound, and the Singapore dollar.