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Facebook CEO Mark Zuckerberg testified before the United States House of Representatives Financial Services Committee today regarding the Libra stablecoin project.Facebook’s Libra vs. China’s digital renminbiDuring the much-anticipated hearings before Congress on Oct. 23, lawmakers and the CEO discussed the growing competition with China on the economic and geopolitical
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The crypto sphere is known for being a disruptive force, but even this sector got a disruptive jolt of its own when Facebook (NASDAQ:FB) announced it would be launching its own cryptocurrency, Libra, in 2020. However, ever since the company announced the launch of its own stablecoin, it has come
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Disclaimer: This article will be updating live for the duration of the Oct. 23 hearing. Please check in for the latest from the hearing. In Advance:In a much-anticipated meeting of politics and tech, Facebook CEO Mark Zuckerberg has finally made his way to United States regulators. He will be testifying
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Today, Oct. 23, Facebook CEO Mark Zuckerberg will testify before the United States House of Representatives Financial Services Committee regarding Libra — the company’s stablecoin project that has been facing major regulatory backlash since the day it was announced. While Libra was previously represented in front of the U.S. lawmakers
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None of the 21 founding members of the Libra Association, except Facebook, have yet committed any money to support Libra, according to the BBC.$10 million investment initially requiredSince the announcement of the Libra Association Council in June 2019, no financial agreement for the founding partners has been made to
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Mark Zuckerberg, the founder of social media giant Facebook, plans to tell United States Congress that Libra will not launch anywhere in the world until U.S. regulators approve it.Libra won’t launch anywhere without Congressional approvalPer Zuckerberg’s prepared remarks released on Oct. 22 in advance of planned hearings before the
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Ever since the potential launch of Facebook’s Libra was announced by the social media behemoth, the company’s cryptocurrency project has lurched from one problem to the next. Regulators from different parts of the world had voiced their concerns about the Libra cryptocurrency, and even the President of the United States
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Good news for Facebook’s crypto project for once. Libra got one of its first notable political pats on the back on Thursday from the Republican Senator from South Dakota Mike Rounds. This was first divulged to the public in a tweet by the popular digital assets custodian Anchorage.Anchorage, which has
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Finance ministers of the G20 nations met on Friday to discuss cryptocurrencies and agreed on a strict framework that curbs the powers of cryptocurrencies such as Facebook Libra. In unity, all members agreed that no stablecoin will be allowed to operate unless the financial risks that these entities pose have
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Ever since the vision for a Libra stablecoin was unveiled in its white paper back in June, Facebook has suffered a startling backlash from countries around the world. Some American politicians have claimed the digital currency has the potential to be more dangerous than 9/11. Lawmakers over in Europe haven’t been
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