Libra will initially be pegged to just one fiat currency. The long-awaited digital currency Libra could finally see the light of day as soon as January 2021, according to a new report. Following more than a year of scrutiny from global financial regulators, Libra will launch in the form of a U.S. dollar-backed digital currency,…
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The Libra Association has made a key hire in its pursuit of a new cryptocurrency and payments system. The Libra Association, which manages Facebook’s quiet cryptocurrency project, has appointed a general counsel to oversee the development of its forthcoming payment system. In an official press release, the Libra Association Wednesday introduced Saumya Bhavsar as the…
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What lies at the heart of the current problems with social media? What can and cannot be fixed? Over the past 15 years or so, social media has gained tremendous traction. Facebook, Twitter and YouTube have reached soaring heights as companies. Social media has its benefits, such as global connectivity and low barrier to entry.…
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BIS Innovation Hub head Benoît Cœuré stressed the importance of maintaining multiple payment options beyond just CBDCs. As numerous countries across the board navigate their feelings on central bank digital currencies, or CBDCs, Benoît Cœuré of the Bank for International Settlements thinks physical cash will retain its importance. Heading up the BIS’ innovation wing, Cœuré…
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As the U.S. stock market enters earnings season, analysts explain how Bitcoin could perform after earnings and the presidential election. Tech-heavy stock market indices, including the Nasdaq Composite and the S&P 500, have begun to recover. Amazon posted high pandemic sales that led profits to climb threefold and reported a 37% spike in revenue. Facebook…
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The proposed EU crypto market regulation will raise many compliance obstacles for the next Libra-like project seeking to operate in Europe. In cryptoland, the fall tends to be regulators’ open season. As unprecedented as it’s been, 2020 is no exception to this trend. Tensions are high on both sides of the Atlantic: As markets were…
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Talk of CBDCs and Facebook’s Libra headlined this week’s policy news, as international organizations weigh in on both. Editor’s note Blockchain technology has attracted regulatory attention since its inception. The security of the Bitcoin network despite the value of BTC in play has consistently proved the resilience of blockchain technology in maintaining records across a…
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“No global stablecoin project should begin operation until it adequately addresses relevant legal, regulatory, and oversight requirements.” Countries representing the world’s largest economies said in a draft of a statement that they would initially oppose the launch of Facebook’s Libra project. According to an Oct. 12 report from Reuters, central bankers and finance ministers from…
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Would decentralized governance save social media platforms from polarizing its users with its politics? Aragon co-founder Luis Cuende told Cointelegraph that the decentralized technology his company has been developing could find its perfect use case on social media platforms like Facebook and Twitter. In recent months, content moderation practices employed by global social media platforms…
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The Antitrust Subcommittee looks for new legal tools to rein in Apple, Amazon, Facebook and Google — a clear opening for tech tools built to decentralize. On Tuesday, a House subcommittee put out a massive report that places Big Tech in the crosshairs of major antitrust reforms. The four firms at the center of the…
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