Facebook weighs Libra revamp to win over reluctant regulators
Facebook Inc. and its partners are considering re-designing the Libra cryptocurrency project so that the network accepts multiple coins, including those issued by central banks, in an effort to woo reluctant global regulators and rebuild momentum for the plan. When Facebook unveiled Libra, it said ...
The choice for governments and central banks is whether to stand in front of a train that is gaining steam, or get on board and reap the benefits.
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 ...
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 ...
Japan to step up study of stable coin regulations following G7 concern over Facebook's Libra project
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 ...
Fear of Facebook Inc.'s Libra initiative proved to be common ground for global finance chiefs as they met to discuss more contentious issues, from digital taxation to the economic outlook, on Wednesday. "Libra is on everyone's mind," German Finance Minister Olaf Scholz told reporters at ...
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 ...
Japan should be concerned about Libra, Facebook's upcoming digital currency.
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 ...
