Tag: Libra

France Says It’ll Block Facebook Libra Development in EuropeAgence France-Presse (AFP) has reported today, Sept. 12, that France plans to block the development of Libra — Facebook’s proposed stablecoin payments network — in Europe. An unconfirmed report from BreakingtheNews.net claims that the position was revealed by French Finance Minister Bruno Le Maire, who has allegedly […]

Switzerland’s financial watchdog says it is open to international cooperation and oversight of the way in which it regulates Facebook’s planned cryptocurrency network Facebook Libra in Switzerland. In a Sept. 12 interview with Neue Zürcher Zeitung (NZZ), Financial Market Supervisory Authority (FINMA) director Mark Branson said it was illusory to believe that a single country […]

Facebook Libra, Other Cryptos Must Comply With US Rules: Treasury Official. Facebook’s Libra must achieve the highest standards of U.S. regulatory compliance prior to any launch, a U.S. Treasury official has said. Speaking to reporters in Geneva, Switzerland, Sigal Mandelker, under secretary of the Treasury for terrorism and financial intelligence, said not only Facebook Libra, […]

Social media giant Facebook, which is currently trying to get regulatory approval for its Libra stablecoin project, reportedly shared details regarding the project’s proposed backing reserves. According to a report by Bloomberg on Sept. 9, Facebook told United States senators about the backing reserves for the Libra Stablecoin — a type of cryptocurrency valued by […]

Bitcoin’s Scaling Problems Forced Facebook to Launch Libra If it wasn’t for Bitcoin there would be no Libra. That much is self-evident since Satoshi’s creation laid the groundwork for every crypto asset that’s followed. The extent to which Bitcoin was responsible for spawning Facebook’s currency has now been made brutally clear in an interview with […]