Libra News

While there were many rumors circulating around Facebook’s quiet cryptocurrency project, details didn’t emerge until mid-June 2019 with the reveal of Libra — a cryptocurrency backed by reserve assets maintained in concert by a consortium of companies around the world with the goal of providing secure financial services to anyone anywhere. 

The news triggered immediate pushback by the United States government for fear of Facebook’s track record with user data, influence on world affairs and the possible upending of the U.S. dollar’s status as a global reserve currency. Notably, both Facebook CEO Mark Zuckerberg and Libra head David Marcus testified before the House Financial Services Committee. 

The Libra project has since pivoted to issuing fiat-backed stablecoins rather than attempting to issue a wholly new currency to be used by Facebook’s billion-plus user base. 

The project quickly ignited a debate among world leaders around the future of digital assets in the global economy, with some countries actively researching and developing their own digital currency initiatives. 

News
Libra gets another member as it strives to have 100 entities on board.
Facebook-backed Libra welcomes Blockchain Capital as new member
Helen Partz
2020-09-18T14:11:39+01:00
4091
News
Top financial services experts continue to join the Libra project.
Libra appoints HSBC veteran to manage crypto project's operational wing
Marie Huillet
2020-09-17T12:08:00+01:00
4682
News
Banque de France Governor François Villeroy de Galhau warned about the threat of "Big Tech" stablecoins.
Bank of France: stablecoins could impact EU financial sovereignty ‘for decades’
Marie Huillet
2020-09-11T12:01:00+01:00
13609
News
Despite stablecoins posting triple-digit market cap growth this year, competition from projects backed by major financial and tech corporations is on the horizo...
Stablecoins post triple-digit growth in 2020, but institutional rivals loom
Samuel Haig
2020-09-11T03:01:10+01:00
6352
News
Former U.S. Homeland Security Department general counsel, Stevan Bunnel, has been appointed as Libra's top lawyer.
Libra replaces general counsel Robert Werner after 3 months
Samuel Haig
2020-08-27T05:42:30+01:00
9946
News
A former chief economist of the IMF said neither private digital currencies nor central bank digital currencies should hold a monopoly.
Top Indian Central Banker Says Cryptos Have a Future But Fears Monopoly
Mohammad Musharraf
2020-08-20T11:02:00+01:00
4911
Analysis
In the EU, getting laws right on Libra could be the best way to speed up a digital euro from the European Central Bank.
Good Stablecoin Rules in the EU Pave the Way for CBDCs and a Digital Euro
Vyara Savova
2020-08-15T15:00:00+01:00
3811
Follow up
There are multiple ways to approach digital payments, and Facebook wants to cover them all.
Enter Facebook Financial: All Bases Covered From Crypto to Stablecoins
Kirill Bryanov
2020-08-14T17:51:00+01:00
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