The head of Sweden’s Riksbank has characterized Libra as “an incredibly important catalytic event” that is spurring central banks to ready themselves for digital transformation. The head of Sweden’s Riksbank has characterized Facebook’s Libra project as “an incredibly important catalytic event” that is spurring the world’s central banks to ready themselves for digital transformation. In […]
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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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The SEC is suing Telegram over the $1.7 billion ICO, is it the mark a new wave of regulatory scrutiny on the U.S. market? Late Friday, the United States Securities and Exchange Commission (SEC) announced that it is suing two offshore entities, Telegram and its wholly owned subsidiary, TON Issuer, for holding an unregistered token […]
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Ethereum-based stablecoins are declining as teams increasingly use other blockchains to facilitate price-stable currencies. Just a few years ago, it was hard to imagine that a stablecoin would come to represent a significant portion of the cryptocurrency industry. Market players tended to base their money-making strategies on a cryptocurrency’s volatility rather than its stability. There […]
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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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Malaysia’s finance ministry says domestic and global adoption rates of cryptocurrencies are low, notwithstanding the significant attention the disruptive sector has garnered. Malaysia’s finance ministry says both domestic and global adoption rates of cryptocurrencies are low, notwithstanding the significant attention the disruptive sector has garnered. In its Economic Outlook 2020 report released today, the ministry […]
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Crypto wallet and debit card service company Cryptopay now offers transfers with the British Pound through the Faster Payments Scheme. Crypto wallet and debit card service company Cryptopay now offers transfers with the British Pound (GBP) through the Faster Payments Scheme. Cryptopay revealed the development in a press release with Cointelegraph on Oct. 9, specifying […]
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