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, […]

Why Facebook's new 'privacy cop' is doomed to fail

[ad_1] The Federal Trade Commission issued its largest-ever fine, of US$5 billion, to Facebook for violating a 2011 privacy settlement in late July. But the amount is only about a month’s worth of the company’s revenue, suggesting that the fine, while seeming large, is, in fact, rather modest. More significantly, Facebook is required to have […]