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A pending report issued by the G7 committee moves to warn stakeholder’s about the serious security flaws exhibited by Facebook’s Libra which is pegged to real world assets such as government holdings and national fiat currencies.The BBC reports a draft of the report that reprimands digital currencies’ issuers in harsh
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Visa, EBay, Stripe and Mastercard have all announced that they are dropping out of Facebook’s Libra Association and its associated stablecoin project.Four companies abandon shipOn Oct. 11, Bloomberg reported that Ebay, Stripe and Mastercard had decided to drop out of Facebook’s Libra cryptocurrency project. Within minutes, Visa said it
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The founder of the OpenLibra project, Lucas Geiger, reportedly misrepresented some of the organizations involved in the project.OpenLibra founder apologized through TelegramOn Oct. 11, Coindesk reported that at least four individuals and organizations denied the fact that they support the OpenLibra project. Others are minimizing their involvement in OpenLibra,
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Lucas Geiger, co-founder of blockchain infrastructure startup Wireline, has announced OpenLibra — a permissionless fork of Facebook’s planned stablecoin.Ethereum developer Lane Rettig tweeted on Oct. 8 that OpenLibra was announced by Geiger at the Ethereum developer conference Devcon 5, adding:“Seeing #openlibra publicly announced for the first time is sending
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Brad Garlinghouse, the CEO of blockchain payments network Ripple, thinks that Facebook will fail to launch its Libra digital currency before 2023. Garlinghouse bets on a 3-year Libra delaySpeaking in an interview with Fortune on Oct. 7, Brad Garlinghouse argued that regulatory pushback would continue to plague the project that
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Pioneering digital payments firm PayPal will no longer be a part of the Geneva-based non-profit Libra association, an alliance that oversees Facebook’s digital currency program Libra. This move come after reports that PayPal is worried about Libra.The payments giant has not stated any precise reason behind its withdrawal from the
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Just when you think Libra may finally get some blessings of regulators to hit the market, the U.S. House turns up the heat. This time, lawmakers demand that Facebook’s top executive, Mark Zuckerberg and Sheryl Sandberg, will testify by the beginning of 2020.Ever since announcing the proposed launch of Facebook’s
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Brian Armstrong, CEO and co-founder of major crypto exchange Coinbase, tweeted on Oct. 5 that he expects the United States government to react to China’s stablecoin project by reconsidering its “ridiculous” response to Facebook’s Libra digital currency.The U.S. government wants to be left behindIn his tweet, Armstrong said he
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When it comes to the payments space, there is no other company that has a reputation as big as that of PayPal (NASDAQ:PYPL). Hence, when it emerged that the payments giant was going to be a part of the Libra Association, there was a lot of anticipation about the sort
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Visa, Mastercard, PayPal and Stripe are unsure whether they wish to become paid-up participants in Facebook’s Libra digital currency.As Bloomberg reported on Oct. 2 citing “people familiar with the matter,” the four payment giants have reservations about the plans. Sources: Facebook “oversold” regulator supportThe companies formed part of the cohort
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