Banking Advisors to US Federal Reserve Say Private Currencies Like Libra Pose Risks

October 2, 2019 @ 9:08 pm By Cali Haan |

Banking advisors to the US Federal Reserve have warned that Facebook’s proposed private currency network, Libra, will disrupt conventional banking and could function as a “shadow banking” system if not properly regulated. They also warned that, “In extremis, alternative currencies could usurp the prudential authority… Read More

Libra Has “Undoubtedly Been a Wakeup Call for Central Banks” Says ECB Board Member Benoit Coeure

September 26, 2019 @ 6:04 pm By Omar Faridi |

Facebook’s stablecoin project Libra might solve some of the problems in the global payments industry, however, it could also create other types of issues that would have to be addressed by regulators, according to Benoit Coeure, a member of the executive board at the European… Read More