Facebook is an online social media and social networking service platform, developed by Mark Zuckerberg. Facebook has faced many controversies involving user-privacy, including the Cambridge Analytics data scandal, and the spreading of other political and conspiracy theories on its platform. Facebook planned the launch of its new currency, Libra in 2019.
ING Warns Facebook’s Ties With Banks May Be Breached Due To Libra Regulatory Concerns
Ralph Hamers, the CEO of ING, warned that Facebook's relationships with banks will probably be cut off due to its inability to address Libra regulatory issues, especially the money-laundering fears.
Bruno Le Maire Insists He Cannot Support Facebook’s Libra
Since the social media giant, Facebook announced its plan to launch its digital currency known Libra, one critic has repeatedly made his opinion known. Bruno Le Maire cannot and will not support the stablecoin project.
Libra Forms Governing Board Despite Shrinking Membership
The Libra Association has reaffirmed its commitment in creating a payments-oriented stablecoin, holding its inaugural meeting yesterday in Geneva, Switzerland.
G7 Reports Stablecoins Like Libra Threaten Financial Security
According to the BBC, the G7 group of nations has drafted a report outlining nine major risks that digital currencies, such as Facebook’s proposed Libra, pose to the global financial system.
Libra Association - Visa and MasterCard Have Second Thoughts
Libra internal struggles. Visa and MasterCard consider leaving.
Facebook’s Libra Developers Release Initial Roadmap
The developers behind Facebook’s cryptocurrency project Libra have released their initial roadmap outlining the milestones they plan to achieve prior to the mainnet launch of the Libra blockchain.
Facebook’s Libra Creating Shadow Monetary Ecosystem Warns FAC
Facebook’s creation of cryptocurrency Libra will spawn a ‘shadow banking’ system outside of sanctioned financial markets according to US banks.
What Happened: US Committee Hearing with the SEC on Crypto and Libra
The United States House of Representatives Financial Services Committee held a hearing on Sept. 24 with the Securities and Exchange Commission’s (SEC) five commissioners. Vital topics covered in the hearing include the consideration of cryptocurrencies as securities, regulation of Facebook’s Libra and Calibra, and insider trading.
German Policymakers Cannot Accept Facebook’s Libra
The German cabinet is expected to adopt a comprehensive blockchain strategy with the aim of digitally enhancing its economy. The strategy also consists of plans to tackle risky new technologies such as Libra, which German policymakers fear could become an alternative currency.
Exclusive: Gerard Dache, on the Two Contradictions of Facebook Libra
In part 2 of the interview, Gerard walked us through some of the recommended bills to the government in fostering blockchain innovation, such as the “Blockchain Promotion Act”. He then shared his views on the nature of Bitcoin and two contradictions of Facebook’s Libra.