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Libra

Congress Drew a Fine Line Between Libra and Crypto – That’s a First

Congress might actually get crypto. That was a key takeaway from last week’s contentious hearings in on Facebook’s Libra project in Washington, D.C.. While giving Facebook executive David Marcus the third degree, lawmakers took pains to distinguish between the social network’s project and the broader cryptocurrency ecosystem. For example, Sen. Brian Schatz (D.-HI) asked Marcus …

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Privacy Is a Human Right Worth Fighting For

<header class=”article__header”> </header> <strong>Privacy is a basic human right. It’s there in Article 12 of the Universal Declaration of Human Rights: “Freedom from Interference with Privacy, Family, Home and Correspondence.” Attaining that right in an era of dragnet surveillance, mass data breaches, state-sponsored hacks and big tech overreach, however, is a Herculean task. As the …

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European Central Bank Exec: Libra Won’t Launch Until Regulators Are Satisfied

Benoit Coeure, a board member of the European Central Bank, said that Facebook’s Libra coin will not launch until global regulators are satisfied.  Speaking to Reuters at the G7 summit in Chantilly, France on July 18, Coeure said that the proposed stablecoin must be guaranteed to be safe for users before it can launch: “You’ve …

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Crypto Bullishness Spreads on Capitol Hill

<header class=”article__header”> </header> <strong>U.S. Congress has shown that it is starting to care about cryptocurrency as a number of lawmakers spoke up in favor of it this week. “The world Satoshi Nakamoto had envisioned is an unstoppable force” and “there’s no capacity to kill bitcoin” are some of the comments made by lawmakers. Meanwhile, the …

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G7 Agrees on Crypto Action Plan Spurred by Facebook’s Libra

<header class=”article__header”> </header> <strong>G7 finance chiefs met this week and Facebook’s Libra cryptocurrency was high on their agenda. They agreed on several crypto initiatives and fast </strong><strong>regulatory responses to projects such as Libra, calling for them to meet the highest standards of financial regulation.</strong> Also read: G20 Leaders Issue Declaration on Crypto Assets – A …

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WATCH: ‘Mother of Blockchains’ Defends Facebook’s Choice of Controversial Swiss Foundation

[embedded content] Joshua Ashley Klayman Kuzar, founder and CEO, Klayman LLC and Inflection Point Blockchain Advisors, is one of the best known cryptocurrency lawyers. In her chat with CoinDesk Editor Pete Rizzo she talks about how uniquely odd and exciting this moment is for cryptocurrency as a whole. “If you actually look at the companies …

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Consumer Advocates Urge Libra Members to Quit Facebook’s Crypto Project

A coalition of consumer advocacy groups has urged the 28 member companies of the Libra Association to quit the Facebook-led cryptocurrency project en masse. “We call upon you as respected members of the business, financial, technology, and civil society communities to collectively withdraw from the Libra project,” says the open letter signed by Open Markets Institute, Public Citizen, …

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Facebook Libra Risks to Financial Stability Demand ‘Highest’ Regulatory Standards, Says G7

The G7 group of nations has warned that cryptocurrencies such as Facebook’s Libra are a threat to global financial stability. A task force set up by the G7 to examine the issues said that rules of the “highest” standards are needed to minimize the use of digital currencies in money laundering and funding terrorism, Reuters reports Thursday. …

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Jamie Dimon Says Libra Does Not Pose a Threat in Short Term

Jamie Dimon, CEO of global financial services firm JPMorgan Chase, argued that Facebook’s cryptocurrency project Libra does not pose a threat in the foreseeable future. As reported by CNBC, Dimon delivered his comments during a conference call with analysts on Tuesday, July 16. Dimon said that he would not spend too much time on Libra, …

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Watch Today’s Facebook Libra Hearing at the House Financial Services Committee

Today the U.S. House Financial Services Committee will grill Facebook executive David Marcus on the social media giant’s proposed Libra cryptocurrency. The lawmakers will also interview a panel of expert witnesses, including former CFTC chairman Gary Gensler and bitcoin doyenne Meltem Demirors. The session kicks off at 14:00 UTC (10 a.m. EST). Watch it here: …

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