US Dollar Dominates Facebook’s Libra’s Basket of Currencies, But No Chinese Yuan

2019-9-23 18:46

In its letter to German politician Fabio de Masi, Facebook revealed the percentage breakdown of the global currencies that would back its cryptocurrency project Libra, reported German newspaper, Der Spiegel.

According to the explanation, the US dollar will dominate this basket of fiat currencies, representing 50 percent of the backing for Libra. The remaining support […].

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EU to Address Risks Before Allowing Private Digital Currencies Like Facebook’s Libra

EU finance ministers have agreed on Thursday that private digital currencies like Facebook’s Libra shouldn’t be allowed in the EU before their risks are being addressed. This means the bloc has a tough stance on the Libra, which has been widely criticized by regulators all over the world and had its influence on the financial […]

2019-12-5 17:52


Ôîòî:

Facebook hires lobbying firm to help sweet talk cryptocurrency regulators

Facebook‘s “cryptocurrency” Libra is facing an ever growing mountain of regulatory challenges. It seems it needs a helping hand, as it’s hired a specialist firm to lobby Washington directly. According to registration documents filed earlier this week, Facebook will be represented by Washington, DC-based FS Vector LLC, a firm that specializes in regulatory compliance and public policy.

2019-8-27 14:31


Binance to launch a blockchain for fiat-backed stablecoins, but who even cares?

Cryptocurrency exchange Binance has been announced launch of a new blockchain and it’s called project “Venus. ” I’m not sure why it chose that name because Venus has no moons. Sad. In an announcement published this morning, Binance described Venus as an “initiative to develop localized stablecoins and digital assets pegged to fiat currencies across the globe.

2019-8-19 15:16


Ripple CEO, Co-founder highlight intention to complement, and not disrupt existing financial systems

With the onset of the digital era, a new generation of internet-based currencies have continued to gain traction over the past few years. And while Bitcoin was positioned as a ‘bank killer’ which would eventually replace legacy financial establishments, Ripple has sought to accelerate the functions of existing financial institutions.

2019-7-29 17:45


Libra and others that follow it will establish exchange relations with major currencies, says former PBoC Governor

With Bitcoin getting mainstream recognition, there has been a lot of institutional onboarding into digital assets. Giants like Facebook, J. P. Morgan, Amazon, Alibaba, Microsoft, and others from all industrial sectors have started to look towards these assets as something that could potentially help solve problems in existing systems, ranging from payments, transfer of value etc.

2019-7-10 17:30


Ôîòî:

China and India Are not Comfortable with Libra, Need More Information and Clarity

China and India combined comprise nearly 35 percent of the world population. Bloomberg reported that the People’s Bank of China (PBOC) wants Facebook to reveal more information about Libra while Economic Times noted that the Indian Secretary of Economic Affairs believes the country is not comfortable with private currencies, July 9, 2019.

2019-7-10 11:00


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