Meta pulls the plug on Novi, the last standing piece of Zuckerberg’s stablecoin dream
Novi users will lose all access to the wallet in September as Meta urges them to withdraw their funds, ending the roller coaster that has been the Diem project.
Latest Libra News
Diem not impressing Washington even with rebranding efforts: report
Facebook has faced an uphill task bringing regulators onboard with its Diem payment system, even after pouring millions into lobbying and rebranding efforts.
David Gerard: The birth pangs of Facebook’s crypto project
A staunch critic of Silicon Valley, writer and journalist David Gerard offers a stinging critique of Facebook’s cryptocurrency project.
US Congress seeks to regulate stablecoins with new STABLE Act
The STABLE Act seeks to treat stablecoin issuers as banks, requiring them to obtain a banking charter and abide by all the current baking regulations.
Facebook’s Libra launching in 2021 and Libra Association changes its name
Facebook will be launching the first Libra-issued digital asset in early 2021, it will be a stablecoin backed 1 to 1 with the US dollar
Facebook Libra taps ex-OCC exec as lead counsel
The Libra Association has announced Saumya Bhavsar as the general counsel for its payment subsidiary, Libra Networks.
BIS: Regulation could be embedded in stablecoins
The Bank for International Settlements (BIS) has said regulation could be embedded into private global stablecoins, such as Facebook’s Libra.
G7: Facebook’s Libra must not launch until it’s properly regulated
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.
Libra replaces general counsel with ex-Homeland Security chief
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.
Libra co-founder spearheads Facebook’s ‘all things payments’ group
Facebook Financial—to be known internally as F2—aims at making the social media giant a big player in the payments industry.
Facebook Libra announces new name—Novi
Rebranding Calibra to Novi is Facebook’s latest move in its restructuring of Libra.
Fake Libra scams pose new challenge for Facebook
Almost a year after Facebook’s Libra was first announced, the outlook for the stablecoin looks starkly different.