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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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2019-11-07T01:11:00+00:00

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The European Union is doubling down on its commitment to block the launch of Facebook’s Libra should it deem the project to present “unmanageable or excessive r...

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2019-11-06T09:00:00+00:00

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Libra will be a “journey of years and decades” and not a payment service like PayPal but more of an interoperability protocol like email, says Calibra’s VP of p...

Facebook’s Calibra Exec: Libra Is More Like Email Than PayPal

2019-11-05T15:46:00+00:00

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International securities regulator IOSCO suggested that some stablecoin implementations are securities based on how they are structured.

Int’l Regulator: Stablecoin ‘Structure’ Determines If It’s a Security

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2019-11-05T13:21:00+00:00

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Here is why Libra is not ready to launch a cryptocurrency yet and why lawmakers find it hard to separate Facebook from the association.

Why Libra Isn’t Ready and Congress Not Buying Zuckerberg’s Testimony

2019-11-01T14:40:00+00:00

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Fintech and regulation experts have said the United States needs to wake up to China’s proactive pursuit of a central bank digital currency.

Expert: US Should Cut Crypto Firms Some Slack to Compete With China

2019-11-01T11:02:00+00:00

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Five European Union member countries are purportedly creating a unified front against the issuance of Facebook’s proposed Libra stablecoin.

Five European Union Countries Team Up to Block Libra: Report

2019-10-30T19:58:00+00:00

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The head of Calibra — the wallet for Facebook’s Libra stablecoin — said that the network will have better money laundering standards than most other payment net...

Calibra Head David Marcus Touts Libra’s Money Laundering Standards

2019-10-29T18:51:00+00:00

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