Tagged: libra

Libra Association Schedules Meeting in Switzerland. So What is on the Agenda?

It has been widely reported that the founding members of the Libra Association, Facebook’s stablecoin initiative, have scheduled a meeting to take place in Geneva, Switzerland on October 14th. As the crypto advocates gather, one has to wonder what is on the agenda. First reported… Read More

Facebook’s Stablecoin Project Could Be a Boon to the United Nations Says Libra Association’s Managing Director

Libra Association managing director and COO Bertrand Perez has said that the Facebook-backed stablecoin project could be a boon to the United Nations. Perez, whose comments came during a recent blockchain event held at the UN headquarters in Geneva (where the non-profit Libra Association is… Read More

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

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

Facebook CEO Mark Zuckerberg Refuses to Commit to Libra’s Planned 2020 Launch

Facebook CEO Mark Zuckerberg has not committed to Libra’s planned launch next year. In an interview with Nikkei Asian Review on September 26, Zuckerberg was asked about the expected launch date of Facebook’s controversial Libra cryptocurrency. “Obviously we want to move forward at some point… Read More

Report Sees Strengthening Support for Libra

While the political chatter in the US is clearly anti-Libra and both France and Germany have expressed their disfavor for Facebook’s stablecoin, Heath Behncke, a founder of the Australian consortium’s bid for Libra Association membership, claims there is strengthening support for Libra. Behncke has recently… Read More

Libra Could Have “Huge Impact On Society” Says Bank of Japan Governor Haruhiko Kuroda

The governor of the Bank of Japan (BoJ) Haruhiko Kuroda has requested the international community to work together to develop a regulatory framework for stablecoins, including Facebook’s Libra. In statements shared with Reuters on Tuesday, Kuroda noted: “If Libra is introduced, it could have a… Read More

Facebook Acquires Messaging Bot Developer Servicefriend, Prepares for Libra and Calibra Wallet Launch

Facebook has acquired Servicefriend, a Tel Aviv-based company that provides artificial intelligence (AI)-enabled customer service bots for messaging. The acquisition has been made as the social media giant prepares to launch its stablecoin project Libra next year. According to Techcrunch, the news was initially reported… Read More

Singapore’s Monetary Authority Head Ravi Menon Says Libra Raises Global Financial Risks

Ravi Menon, head of the Monetary Authority of Singapore (MAS), the nation’s central bank, has warned that Facebook’s controversial stablecoin project Libra raises significant global financial risks, which must be addressed by regulatory authorities.  Menon joins a growing list of regulators throughout the world who’ve… Read More

US House Financial Services Committee to Hold Hearing with ALL SEC Commissioners. Topics Include Cryptocurrency & Facebook’s Libra; Private Markets vs. Public Markets

The US House Financial Services Committee is planning to ask the Securities and Exchange Commission (SEC) to provide additional information about a litany of topics including cryptocurrencies and Facebook’s stablecoin project Libra. Other topics include the discussion on private markets vs. public markets as well… Read More

Libra Head: Facebook Cryptocurrency Won’t Threaten National Sovereignty

David Marcus, a former PayPal executive now leading Facebook’s cryptocurrency project, Libra, has claimed on Twitter that the company’s proposed in-app global payments network will not threaten the monetary sovereignty of nations. The tweet was met with some skepticism, however. Regulators around the world have… Read More

French Minister of Economy Says No to Libra. Libra Association’s MD is Unfazed

On September 12, the French Minister of Economy and Finance Bruno Le Maire did not mince words. Libra should not be allowed in Europe, he said. Later, on the same day, Bertrand Perez, the newly appointed managing director and COO of the Libra Association was… Read More

German Government Speaks Against the Authorization of Facebook’s Stablecoin Libra

Germany’s government has spoken against the authorization of the ongoing development of Facebook’s controversial stablecoin project Libra in Europe. Christian Democratic Union parliamentarian Thomas Heilmann, who’s responsible for creating CDU’s policies on blockchain technology, said the German government will not allow projects like Libra to… Read More

Head of Libra Association Says Facebook’s Cryptocurrency Will Launch in 2020, Renminbi “Will Not Be Part of It”

Bertrand Perez, General Director of the Libra Association says Facebook has no plans to delay the launch of its global (crypto)currency network, despite outcry from global regulators. “We are firmly maintaining our launch schedule, between the end of the first half of next year and… Read More

French Minister: Facebook’s Stablecoin Libra Challenges “Monetary Sovereignty” of States, Must Be Blocked

France’s government is reportedly planning to block the ongoing development of Facebook’s controversial stablecoin project, Libra.  French authorities said the launch of the crypto-related Libra initiative must not be permitted in Europe because it challenges the “monetary sovereignty” of states, according to CNBC. The report… Read More

In Light of FINMA Guidance on Stablecoins, Libra Will Pursue Payment System License

Following the announcement by the Swiss Financial Market Supervisory Authority (FINMA) has issued guidelines on the treatment of stablecoins under Swiss law, the Libra Association, a non profit based in Geneva, Switzerland, will pursue a license as a payment system with lead supervisory authority under the… Read More

Swiss Financial Market Supervisory Authority Issues Guidelines on Treatment of Stablecoins Following Request for Assessment by Libra

The planned international scope of Libra requires an internationally coordinated approach. The Swiss Financial Market Supervisory Authority (FINMA) has published guidelines on treatment of stablecoins under Swiss law. Stablecoins are virtual currencies or cryptocurrencies which attempt to hold a stable value by pegging itself to… Read More

China: WeiyangX Fintech Review

China to Include P2P lending Industry into Credit System On September 2nd, the special working group for Fintech risk ratification and special working group for online lending administration jointly issued a notice, requiring all p2p lending institutions to be connected to the credit system established… Read More

European Central Bank Official Calls Facebook’s Libra “Treacherous” and “Cartel-Like”

Private money on the scale of Facebook’s Libra is dangerous and likely contrary to the public good, Yves Mersch, Executive Board Member of the ECB told the ESCB Legal Conference in Frankfurt September 2nd: “In the field of money, history bears testament to two basic truths…. Read More

Bug Bounty Program for Facebooks Libra Coin Now Live

After kicking up an unprecedented uproar from global regulators, Facebook appears to be pressing on full steam with development of Libra, the company’s proposed global cryptocurrency network. Facebook has now announced a “bug bounty” program that “reflects the Libra Association’s principles of openness, transparency, and global… Read More

Chair of House Financial Services Committee Maxine Waters Comments on Trip to Switzerland & Facebook’s Libra Plan: “My Concerns Remain”

Congresswoman Maxine Waters, the Chairwoman of the influential House Financial Services Committee, has issued a statement on her Bipartisan trip to Switzerland to learn more about Facebook’s plan to launch a stablecoin dubbed Libra. Facebook has incorporated Libra in the crypto-friendly jurisdiction of Switzerland like… Read More

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