Tag Archives: Libra

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Facebook’s Zuckerberg grilled in US Congress on digital currency, pri...

10 October, 2019 9:03 am 9:03 am

WASHINGTON (Reuters) – Facebook Inc CEO Mark Zuckerberg conceded on Wednesday that the company’s planned digital currency Libra was a “risky project,” but sought to reassure skeptical US lawmakers that it could lower the cost of electronic payments and open up the global financial system to more people. Sporting a suit and tie, Zuckerberg also … Read More


No plans to ban Facebook’s Libra: ECB’s Coeure says

10 October, 2019 9:31 pm 9:31 pm

FRANKFURT (Reuters) – Global financial regulators have no plan to ban Facebook’s Libra or other stablecoins, but these digital tokens backed by official currencies will have to meet the highest regulatory standards, European Central Bank director Benoit Coeure said in an interview published on Thursday. His comments provide a rare ray of light for Facebook’s … Read More

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Facebook’s Libra currency abandoned by major financial companies

10 October, 2019 9:00 am 9:00 am

CALIFORNIA (Reuters) – Facebook Inc’s ambitious efforts to establish a global digital currency called Libra suffered severe setbacks as major payment companies including Mastercard and Visa Inc quit the group behind the project. The two companies announced they would leave the association Friday afternoon, as did EBay Inc, Stripe Inc. and Latin American payments company … Read More


PayPal becomes first member to exit Facebook’s Libra Association

10 October, 2019 9:43 am 9:43 am

WASHINGTON (Reuters) – US payments processor PayPal Holdings Inc said it was leaving Libra Association, the entity managing the Facebook-led effort to build global digital currency Libra, making it the first member to exit the group. PayPal said it would forgo any further participation in the group and would instead focus on its own core … Read More

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Visa, Mastercard reconsider backing Facebook’s Libra: WSJ

10 October, 2019 9:42 am 9:42 am

(Reuters) – Visa (VN), Mastercard Inc (MA.N), Visa and other key financial partners may reconsider their involvement in Facebook Inc’s (FB.O) cryptocurrency, Libra, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The financial backers to Libra did not want to attract regulatory scrutiny and declined Facebook’s requests to publicly support … Read More


France, Germany warn of blocking Facebook’s Libra in Europe, back pub...

09 September, 2019 12:38 am 12:38 am

HELSINKI (Reuters) – France and Germany said on Friday that Facebook’s Libra currency posed risks to the financial sector that could block its authorization in Europe, and backed the development of an alternative public cryptocurrency. The criticism came as the European Central Bank said it was working on a long-term plan to launch a public digital … Read More

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US lawmakers challenge Facebook over Libra cryptocurrency plan

07 July, 2019 10:59 am 10:59 am

WASHINGTON/NEW YORK (Reuters) – US lawmakers bashed Facebook on Wednesday over its planned cryptocurrency, saying the company had not shown it could be trusted to safeguard the world financial system and consumers’ data. The social media company is fighting to get Washington on its side after it shocked regulators and lawmakers with its announcement on … Read More

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Facebook vows Libra currency will wait for approval as US airs worries

07 July, 2019 9:45 am 9:45 am

WASHINGTON (Reuters) – Facebook Inc (FB.O) said on Monday it would not proceed with the launch of its Libra cryptocurrency until regulatory concerns are addressed, as the US Treasury secretary took the unusual step on of saying he had serious concerns it could be used for illicit activity. David Marcus, who oversees Facebook’s blockchain efforts, … Read More

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Trump blasts Bitcoin, Facebook’s Libra, demands they face banking reg...

07 July, 2019 10:36 am 10:36 am

WASHINGTON (Reuters) – US President Donald Trump on Thursday criticized Bitcoin, Facebook’s proposed Libra digital coin and other cryptocurrencies and demanded that companies seek a banking charter and make themselves subject to US and global regulations if they wanted to “become a bank.” “I am not a fan of Bitcoin and other Cryptocurrencies, which are … Read More

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Fed chief calls for Facebook to halt Libra project until concerns addressed

07 July, 2019 10:11 am 10:11 am

WASHINGTON (Reuters) – US Federal Reserve Chairman Jerome Powell said that Facebook’s plan to build a digital currency called Libra “cannot go forward” until serious concerns are addressed, comments that pressured the project and dented the price of the original cryptocurrency bitcoin.  The strong comments from the most powerful US financial regulator underscored the growing … Read More

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Bitcoin soars past $13,000 as Facebook’s Libra fuels demand

06 June, 2019 8:46 am 8:46 am

NEW YORK/LONDON (Reuters) – Bitcoin jumped to an 18-month high on Wednesday, as investors looked for safety in alternative investments amid geopolitical tension, and cheered prospects that Facebook Inc’s Libra token could push cryptocurrencies into the mainstream. The world’s biggest cryptocurrency has surged in value since April and on Wednesday hit a peak of $13,666.02 … Read More