Commentary / World Oct 16, 2019
by Barry Eichengreen
The remedy for the financial woes of people in developing countries isn't going to come from Facebook.
Business / Tech Oct 5, 2019
Facebook's Libra digital currency loses its first member: PayPal
U.S. payments processor PayPal said on Friday it was leaving Libra Association, the entity managing the Facebook-led effort to build global digital currency Libra, making it the first member to exit the group. PayPal said it would forgo any further participation in the group and ...
World Sep 12, 2019
France warns it will block development of Facebook Libra in Europe
France warned Thursday it will block development of Facebook Inc.'s planned Libra cryptocurrency in Europe because it threatens the "monetary sovereignty" of governments. "I want to be absolutely clear: In these conditions, we cannot authorize the development of Libra on European soil," Bruno Le Maire ...
Business Aug 24, 2019
World needs to end risky reliance on U.S. dollar, BoE's Mark Carney says
Bank of England Gov. Mark Carney took aim at the dollar's "destabilizing" role in the global economy on Friday and said central banks might need to join together to create their own replacement reserve currency. The dollar's dominance of the global financial system increases the ...
Business / Financial Markets Aug 16, 2019
Chinese cryptocurrency demand feeding off trade tensions, weaker yuan, market players say
by Tom Wilson and Gertrude Chavez-Dreyfuss
Trade tensions between the United States and China and a weakening yuan are boosting demand for cryptocurrencies among Chinese investors, market players from Asia to New York said. Exchanges, researchers and brokers say they have seen an uptick in activity at cryptocurrency trading venues popular ...
Business | FOCUS Jul 19, 2019
Japan to step up study of stable coin regulations following G7 concern over Facebook's Libra project
by Ko Hirano
With the Group of Seven (G7) reaching agreement to push for the highest standards of regulation on Facebook Inc.'s proposed Libra digital currency, Japan plans to step up discussions on how to regulate and oversee the project that could offer faster and cheaper remittances. A ...
Business Jul 15, 2019
Cryptocurrency exchange operator Bitpoint Japan Co. says it has found an additional ¥250 million worth of digital currencies stolen after losing around ¥3 billion in an earlier hack. The money was traced to overseas exchanges.
Business / Financial Markets Jun 24, 2019
Guardians of money bristle at Mark Zuckerberg's new financial order
Facebook Inc. was hours away from the formal announcement of its ambitious foray into financial services, but French Finance Minister Bruno Le Maire was already broadcasting his discontent. 'It's out of the question" that the social-media giant's digital money compete with sovereign currencies, Le Maire ...
Business / Corporate Jun 20, 2019
Line Corp., the nation's largest messaging app, is close to obtaining a license to launch a cryptocurrency exchange in Japan, according to people familiar with the matter. The Financial Services Agency could issue the license as early as this month, with exchange operations starting a ...
Business Jun 18, 2019
Facebook reveals plans for Libra cryptocurrency, targeting first half of 2020 for launch
Facebook Inc. revealed plans on Tuesday to launch a cryptocurrency called Libra, the latest development in its effort to expand beyond social networking and move into e-commerce and global payments. Facebook has linked with 28 partners in a Geneva-based entity called the Libra Association, which ...
Business Jun 18, 2019
How cryptocurrencies can replace other pay options
by Glenn Chapman
Cryptocurrencies live in a volatile, roller-coaster world, which Facebook is seeking to change with its new Libra digital money. The new digital currency will be overseen by a nonprofit association and backed with real assets to serve as a reliable, stable form of globally accepted ...