Regulators around the globe are increasingly turning hostile to the social media behemoth. The United States Federal Trade Commission has filed a lawsuit against Facebook Inc., where it alleges that the corporation has been engaging in anti-competitive practices ever since acquiring a dominant global position at the turn of the 2010s. According to public case…
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Executives from Facebook’s ‘Diem’ Association, Circle, Soramitsu, and Coinbase discussed how and when digital currencies will go mainstream, at the Singapore Fintech Festival. Speaking at Singapore Fintech Festival, Circle CEO Jeremy Allaire said that “third-generation blockchain technology” would see digital currency “in the hands of hundreds of millions, if not billions of users.” Allaire featured…
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Facebook’s plan to rebrand its stablecoin project from Libra to Diem has been met with legal threats from a small European start-up of the same name. Facebook has been hit with threats of legal action over its plan to rebrand the Libra stablecoin project to ‘Diem’ from a finance application of the same name. Facebook…
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German finance minister says “A wolf in sheep’s clothing is still a wolf.” Facebook’s Diem stablecoin, which recently changed its name from Libra, is still failing to impress German regulators. As reported by Reuters, German Finance Minister Olaf Scholz voiced his criticism of the project on Monday after a conference between G-7 finance ministers and central bank…
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