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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.

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A bipartisan team of senators introduced legislation that would regulate Facebook’s Libra stablecoin under securities law.

New Bill Would Put Facebook’s Libra Stablecoin Under US Securities Law

2019-11-21T17:20:00+00:00

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With Facebook and Google establishing themselves more firmly into the financial industry, what is the future like for crypto?

Google, Facebook Take on Banking Duties, Crypto Shrugged to the Side?

2019-11-21T14:45:00+00:00

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The Libra Association, the entity behind Facebook’s forthcoming Libra stablecoin, has logged over 51,000 transactions on its network during the past two months.

Libra Network Logged Over 30 Projects in Past Two Months of Testing

2019-11-20T13:08:00+00:00

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One of the 21 founding members of the Libra Association, Bison Trails, has raised $25.5 million from Blockchain Capital, Coinbase and ConsenSys.

Bison Trails Raises $25M in Funding Round Led by Blockchain Capital

2019-11-19T17:48:00+00:00

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As worldwide regulators continue to stonewall the Libra stablecoin project, Facebook moves forward with Facebook Pay, a new fiat payment system.

As Regulators Stonewall Libra, Facebook Rolls Out New Payment System

2019-11-13T01:55:00+00:00

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Cointelegraph auf Deutsch presents a weekly digest of selected cryptocurrency and blockchain-related developments from the German-speaking world.

Crypto News From the German-Speaking World: Nov. 3-10

2019-11-10T00:28:00+00:00

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The former head of People’s Bank of China, Zhou Xiaochuan has argued that Libra would be more readily trusted if it were in the hands of an entity like the IMF.

Former PBoC Governor: Libra Would Be Trusted If Run by IMF

2019-11-08T12:08:00+00:00

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A senior U.S. federal official argued that Facebook’s Libra highlights the need for the FED to urgently launch its own real-time payments system — FedNow.

Fed Must Launch FedNow Ahead of Facebook’s Libra, Says Gov’t Official

2019-11-08T09:53:00+00:00

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