The potential loss of Libra could be Bitcoin’s gain as the Facebook-led crypto project faces increasing regulatory challenges. Facebook’s dream of being a cryptocurrency giant is seemingly becoming more distant by the day, as increasing regulatory uncertainty continues to jeopardize the company’s Libra project. While Libra has been surrounded by anything but good news even […]
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Recent departures including Paypal and Visa does not mean Facebook’s Libra currency project is over, reassured Calibra head, David Marcus. Head of Facebook’s Calibra claimed that the recent withdrawal of the seven firms from the Libra Association has no impact on the project. Dropouts will still be able to work with Libra In an interview […]
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Cryptocurrency investment and infrastructure platform Layer1 has secured $50 million from investors including Peter Thiel in a Series A funding round. Cryptocurrency investment and infrastructure platform Layer1 has secured $50 million from a number of industry stakeholders in a Series A funding round. As Fortune reported on Oct. 15, venture capitalist and PayPal co-founder Peter […]
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The Libra Association has formed a five-member board and set ground rules for its governance today at a meeting in Switzerland. The Libra Association, the governing body of Facebook’s proposed stablecoin, held its inaugural meeting today in Geneva, Switzerland. According to a report from Reuters on Oct. 14, the consortium reaffirmed their interest in creating […]
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U.S. Treasury Secretary Mnuchin said that firms are abandoning Libra due to its current inability to meet Anti-Money Laundering standards. United States Treasury Secretary Steven Mnuchin has attributed the recent spate of firms abandoning Facebook’s Libra stablecoin project to regulatory concerns. On CNBC’s Squawk Box on Oct. 14, Mnuchin stated that companies are abandoning the […]
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Coinbase CEO Brian Armstrong says the U.S. Senate’s action to pressure Libra participants is “very un-American.” Coinbase CEO has criticized United States’ senators for asking Stripe, Mastercard and Visa to leave Facebook’s crypto project Libra. “Something feels very un-American about this” After U.S. Senators Brian Schatz and Sherrod Brown apparently pressured the payment giants to […]
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The G7 has released a report claiming that “global stablecoins” could pose a threat to global financial stability. The G7 group of nations has reportedly drafted a report which says that “global stablecoins” pose a threat to the global financial system. According to the BBC on Oct. 13, a draft report from the G7 outlined the various […]
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Mayor companies, Visa, EBay, Stripe and Mastercard are abandoning Facebook’s cryptocurrency project Libra amid increased regulatory pressure. Visa, EBay, Stripe and Mastercard have all announced that they are dropping out of Facebook’s Libra Association and its associated stablecoin project. Four companies abandon ship On Oct. 11, Bloomberg reported that Ebay, Stripe and Mastercard had decided […]
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Simon Morris, the head of product at the Libra Association, has left the project within five months of joining, according to his LinkedIn profile. Simon Morris, the head of product at the Libra Association, has left the project within five months of joining, according to his LinkedIn profile accessed on Oct. 9. The Switzerland-registered Libra […]
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A letter tells Visa, Mastercard and Stripe that they “should be concerned” about the implications of supporting Facebook’s Libra nodes. Three backers thought to be reconsidering their involvement in Facebook’s digital currency Libra have received warnings from the United States’ politicians over participating. Senate Letter: Facebook’s problems are your problems According to Bloomberg’s article published […]
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