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
The Agricultural Bank of China has launched an ATM pilot program that enables citizens to convert cash and savings to and from the digital yuan.
State-owned Chinese bank rolls out ATMs for digital yuan
Greg Thomson
2021-01-11T10:30:59+00:00
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News
Attorney General William Barr tendered his resignation to President Trump last night, opening up the conversation as to how a Biden-appointed successor will han...
With Bill Barr leaving the DoJ, what will the next Attorney General do about crypto?
Kollen Post
2020-12-15T19:10:54+00:00
3170
News
A former PBoC official says that his country has taken a cautious approach with the digital yuan.
China has no plan to replace USD with digital yuan, former PBoC head says
Helen Partz
2020-12-14T11:44:00+00:00
3742
News
Regulators around the globe are increasingly turning hostile to the social media behemoth.
FTC sues Facebook in antitrust lawsuit as regulators mount offensive
Andrey Shevchenko
2020-12-10T11:49:22+00:00
4996
News
Executives from Facebook’s ‘Diem’ Association, Circle, Soramitsu, and Coinbase discussed how and when digital currencies will go mainstream, at the Singapore Fi...
Hundreds of millions of consumers will use digital currencies soon: Circle CEO
Joshua Mapperson
2020-12-09T04:14:45+00:00
18872
News
The social media giant has rebranded in hopes of scoring regulatory approval.
Facebook hopes to launch its crypto and wallet in 2021, top exec says
Helen Partz
2020-12-08T09:46:42+00:00
11004
News
Facebook’s plan to rebrand its stablecoin project from Libra to Diem has been met with legal threats from a small European startup of the same name.
Carpe ‘Diem’: Lawsuit threatened over Facebook’s Libra rebrand plan
Samuel Haig
2020-12-08T04:39:41+00:00
10575
News
German finance minister says “A wolf in sheep's clothing is still a wolf.”
German government unimpressed by Facebook stablecoin's rebrand
Andrey Shevchenko
2020-12-07T17:00:08+00:00
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