Stormclouds gather for Facebook's Libra currency

[ad_1] Libra won’t ‘play at being pirates’ International outcry is mounting over Facebook’s Libra—with central banks, governments and regulators railing against the social media giant’s upstart cryptocurrency. Facebook unveiled plans in June for Libra—which will roll out in 2020—to be backed by a basket of currency assets to avoid the wild swings of Bitcoin and […]

Swiss say Facebook's digital currency plan will face hurdles

[ad_1] In this March 29, 2018 file photo, the Facebook logo on a screen at Nasdaq in Time Square, New York. Facebook and its partners have asked financial authorities in Switzerland to evaluate their plan to create a new digital currency called Libra. Facebook has said a nonprofit association headquartered in Geneva would oversee Libra, […]

China is working on its own digital currency

[ad_1] Enlarge / An employee counts 100-yuan notes at a bank in Nantong in China’s eastern Jiangsu province on July 23, 2018. -/AFP/Getty Images China’s central bank is working on a cryptocurrency that will be similar to Facebook’s Libra, a government official said this week, according to Reuters. China’s central bank has had a group […]

Privacy watchdogs warn Facebook over Libra currency

[ad_1] The letter follows a chorus of warnings about Facebook’s entry into the shadowy world of digital banking Global privacy regulators joined forces Tuesday to demand guarantees from Facebook on how it will protect users’ financial data when it launches its planned cryptocurrency, Libra. The watchdogs from Australia, the US, EU, Britain, Canada and other […]