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The European Central Bank (ECB) plans to develop an alternative public cryptocurrency, according to a new report on Forbes.French and German government officials back the supposed ECB’s plans for a development of a digital currency, which could become a potential rival to Facebook’s Libra and Bitcoin(BTC)trade like other popular cryptocurrencies.
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Top Stories This WeekFacebook’s crypto launching in H2 2020, says Libra Association chiefThe head of the not-for-profit driving Facebook’s Libra digital currency has said he is confident that seemingly endless regulatory difficulties can be ironed out — paving the way for the token to launch in the second half
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Recently, a report by Der Speigel magazine in Germany indicates that the German government is against giving approval to private stablecoin issuers such as Facebook and its digital currency Libra.The report cites a member of the current government, Thomas Heilman, who called for caution against these stablecoin issuers. He said
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Facebook’s Libra is already suffering from several political issues within the United States as several Congress members wrote an open letter to Mark Zuckerberg in which they called to halt the development of Libra, Facebook’s native cryptocurrency.Now, in Europe, France has announced that it will block the development of Facebook’s
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France’s Minister of the Economy and Finance has said the country will block the development of Libra in Europe as it threatens “monetary sovereignty.” Bruno Le Maire stated that he had serious concerns about the disruption the planned Facebook-led cryptocurrency could have on governments’ economic power at a meeting of the Organisation for
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The government of Germany has spoken against the authorization of the development of Facebook’s forthcoming Libra stablecoin in the European Union.As German weekly news magazine Spiegel reported on Sept. 13, the Christian Democratic Union (CDU) parliamentarian Thomas Heilmann — who is responsible for the blockchain policy of the CDU
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French Finance Minister Bruno Le Maire has said that Europe should consider its own “public digital currency” that could challenge Facebook’s Libra.The Minister’s remarks — the latest in a series of vocal misgivings about the social media giant’s cryptocurrency plans — were reported by Reuters on Sept. 13. “EuroCoin”? vs.
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The head of the nonprofit organization behind Facebook’s Libra digital currency has said the company is committed to launching it and clearing regulatory hurdles.Perez: “We don’t want to be like BlackRock”In an interview with French news magazine Les Echos on Sept. 12, Bertrand Perez, director general of the Libra
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If Facebook’s crypto project Libra wants to survive in the US, it must ensure building a system that does not let criminals hide, and that is capable of tackling problems associated with terrorism funding and money laundering, said the US Under Secretary of Terrorism and Financial Intelligence, Sigal Mandelker, on
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It was back in July that Facebook’s Libra was announced and ever since the announcement, it has become the subject of intense scrutiny from lawmakers. It has not only led to the scrutiny of the entire cryptocurrency project announced by Facebook (NASDAQ:FB) but that of the wider cryptocurrency market as well
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