Facebook’s Libra ‘cryptocurrency’ gets desperate as it considers stablecoins

Facebook’s Libra ‘cryptocurrency’ gets desperate as it considers stablecoins
ôîòî ïîêàçàíî ñ : thenextweb.com

2019-10-21 12:00

Facebook‘s controversial ‘cryptocurrency‘ Libra could be based on national currencies such as the dollar, the tech giant said on Sunday, following increased scrutiny from regulators and governments in recent months.

“We could do it differently,” he said. “Instead of having a synthetic unit … we could have a series of stablecoins, a dollar stablecoin, a euro stablecoin, a sterling pound stablecoin, etc,” David Marcus, the project‘s lead, told a banking seminar. “We could definitely approach this with having a multitude of stablecoins that represent national currencies in a tokenized digital form,” he said. “That is one of the options that…

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$ 0.0002231 (+0.00%)
Îáúåì 24H $496
Èçìåíåèÿ 24h: 3.37 %, 7d: -12.42 %
Cåãîäíÿ L: $0.0002231 - H: $0.0002231
Êàïèòàëèçàöèÿ $0 Rank 6089
Öåíà â ÷àñ íîâîñòè $ 0.0196359 (-98.86%)

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Facebook’s Libra could give birth to a ‘shadow banking’ system, claims United States’ Federal Advisory Council

At this month’s Federal Advisory Council meeting, the United States’ biggest banks (including CEOs Rene Jones of M&T Bank Corp. , Beth Mooney of KeyCorp, and Brian Moynihan of Bank of America Corp) were asked by the Federal Reserve about their thoughts on Libra, the stablecoin proposed by social media giant Facebook.

2019-10-2 18:45


Ôîòî:

Banks Stopped Walmart Bank – Now the Retail Giant Hits Back With Crypto

On August 1, it was discovered that the giant retail corporation Walmart has patented plans for a stablecoin that’s backed by U.S. dollars. If released into the wild, the USD-based cryptocurrency would be issued to select Walmart retailers and partners while the patent’s description explains the coin could be used outside of Walmart’s retail scope […] The post Banks Stopped Walmart Bank – Now the Retail Giant Hits Back With Crypto appeared first on Bitcoin News.

2019-8-3 23:00


Dukascash Stablecoin Launches by Swiss Bank Dukascopy, Backed by Three Fiat Currencies

Reports circulated yesterday that the Swiss SIX Stock Exchange was encouraging the local central bank to launch a stablecoin that could be used within their country. Between that encouragement and the recent changes to the Libra whitepaper, it is clear that the market desires another stablecoin, and the Dukascopy Swiss bank is listening. According to […]

2019-6-28 00:24


Coinbase Commerce enables businesses to accept USD Coin [USDC] for payments

Coinbase, one of the largest cryptocurrency exchange platforms in the U.S. in terms of users, announced that USD Coin could be used a mode of payment by businesses using Coinbase Commerce. The announcement was made on 20 May 2019 through their official Medium blog and stated that, “accepting” the stablecoin “gives our merchants many benefits […] The post Coinbase Commerce enables businesses to accept USD Coin [USDC] for payments appeared first on AMBCrypto.

2019-5-21 15:15


Ôîòî:

Op Ed: A Summary of

In the latest on the ongoing legal dispute between the New York Attorney General (NYAG), cryptocurrency exchange Bitfinex and stablecoin issuer Tether, the New York Supreme Court has modified an April 24, 2019, preliminary injunction and now Bitfinex is allowed to continue using the Tether reserves that were loaned to it to maintain its ordinary course of business, such as paying employees and consultants.

2019-5-18 22:14


Ôîòî:

Bitfinex Faces Legal Action From NY Attorney General: Here’s What This Means

The New York Office of the Attorney General (AG) wants to take a closer look into the business operations of Bitfinex and related stablecoin issuer Tether (USDT). According to a legal petition filed with the Supreme Court of New York, the NY Attorney General Office of Letitia James is applying for a court order to investigate Bitfinex’s suite of interrelated companies (including its umbrella firm iFinex and Tether Holdings Limited) for “ongoing fraud” to the tune of $850 million.

2019-4-27 01:30


SEC’s Valerie Szczepanik: Many Stablecoins Currently “Might Be Violating Various Securities Laws”

SEC’s Valerie Szczepanik Says There Are Many Stablecoins In The Market Currently That “Might Be Violating Various Securities laws” During her appearance at the ongoing SXSW conference in Austin, the SEC’s Senior Advisor for Digital Assets ‘Valerie Szczepanik’ went on record to state that there currently existed a number of stablecoin offerings that could potentially […]

2019-3-17 23:31


Ôîòî:

Barclays Analyst Says Facebook Cryptocurrency Push Could Generate $19 Billion by 2021

While social media giant Facebook is putting preparations in top gear to launch a stablecoin that could function as both the native currency for the platform and a digital asset for global peer-to-peer payments, Barclays Internet analyst, Ross Sandler has forecasted that Facebook Coin could generate as much as $19 billion for by 2021, reportsRead MoreRead More.

2019-3-13 21:00


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