Financial regulators in the world’s seven biggest economies will continue to oppose the launch of Facebook’s digital currency Libra until proper regulations are in place.
Stevan E. Bunnell, former general counsel for the U.S. Department of Homeland Security, has taken up post as Facebook Libra’s chief legal officer.
Facebook returned to its financial ambitions this week, while Goldman Sachs sounded a positive note on digital currencies.
Facebook Financial—to be known internally as F2—aims at making the social media giant a big player in the payments industry.
The tech giants are facing a possible $300 billion class-action lawsuit over their decision to ban digital currency ads.
A Brazilian regulator has lifted a ban on WhatsApp payments. However, users still can’t process payments on WhatsApp due to outstanding central bank ban.
The system was not analyzed by monetary authorities in advance, and posed risks to the wider payment system in Brazil, central bank says.
Almost a year after Facebook’s Libra was first announced, the outlook for the stablecoin looks starkly different.
Google has refused to accept ads from CoinCorner exchange for years, but in a cruel twist, it has been promoting an ad for a clone of the British exchange.