Keeping up with Facebook and its Libra stablecoin
This week saw Libra bounce back after having lost supporters like Visa, MasterCard, Stripe and more.
This week saw Libra bounce back after having lost supporters like Visa, MasterCard, Stripe and more.
This past Monday saw 21 companies, down from the original 28 after several walked away, sign the charter to be founder members of Facebook’s Libra stablecoin project.
Stefan Ingves, governor of the Riksbank, described Facebook Libra as an “important catalytic event” in urging central banks to focus on their own crypto plans.
Facebook is still chipping away at the rough stone that it hopes will eventually become a highly polished stablecoin project.
Zuckerberg will try once again to convince U.S. lawmakers that the project has merit and good intentions as support from allies falls apart.
Lawmakers in the United States have reached out to three major financial firms partnering with Facebook’s Libra project to urge them to reconsider their involvement.
With specific reference to Facebook Libra, commissioner Valdis Dombrovskis said the EU would require “a common approach” to regulating stablecoins and cryptocurrencies.
But the latest revelations that have surfaced over the past several months have certainly put the companies in a harsh light.
CoinFlex is offering prediction futures on whether Facebook’s Libra cryptocurrency will actually launch next year or not.
In a letter written by senior enforcement counsel John Castiglione, the NYAG said the courts should not allow Bitfinex to continue to blank the investigation.
When Facebook first started talking about introducing a stablecoin, it spent copious amounts of time drumming up support from worldwide, established financial companies.
Founder and CEO Mark Zuckerberg said Facebook would “work through” the regulatory challenges before proceeding with the launch of Libra.