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The Reserve Bank of Australia (RBA) has expressed doubt over whether cryptocurrencies, including Libra and central bank digital currencies (CBDCs), will ever become viable solutions.In a submission (pdf) to the Select Committee on Financial Technology and Regulatory Technology just before Christmas, RBA officials were skeptical that cryptocurrencies, in their current and
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LAS VEGAS — "Bitcoin as an asset class has proven that mathematical scarcity can support an incredibly exciting asset," Dante Disparte, vice chairman of the Libra Association, said Tuesday. "It's not a means of payment. It just isn't."Disparte spoke at the Digital Money Forum at the Consumer Electronics Show (CES) in
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This post is part of CoinDesk's 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Richie Hecker is an entrepreneur, and management consultant at Traction & Scale. 2019 was the year of Libra rising – an attempt led by Facebook
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Libra, the much-scrutinized proposed cryptocurrency from Facebook (NASDAQ:FB), has “failed in its current form,” according to Swiss President and Finance Minister Ueli Maurer. Swiss President Critical of Libra Basket Maurer, who is in the final days of his year-long term as President of the Swiss Confederation, was speaking to the country’s national
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After meeting a list of obstacles in an attempt to pass regulations for its ambitious Libra cryptocurrency project, Facebook has been set back in their goal to launch it in 2020. Switzerland’s president, Ueli’ Maurer, has expressed disappointment in the project as Facebook’s team continues its efforts to seek regulatory
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The basket of assets backing Facebook’s Libra stablecoin needs to change in order for the project to be accepted by regulators, according to Switzerland’s President.“Central banks will not accept the basket of currencies underpinning it”Reuters reported on Dec. 27 that Swiss finance minister and outgoing president Ueli Maurer said
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The head of the People's Bank of China's (PBOC) digital currency research subsidiary, Changchun Mu, said China's cryptocurrency will not need a currency basket to maintain a stable value.Speaking to reporters at The China Finance Association Academic Annual Meeting and China Finance Forum Annual Meeting in Beijing Saturday, Mu said
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2019 has been a slow year for bitcoin. It is up almost two-fold since January but it is at risk of ending the year with a 50 percent drop from its yearly high. Still, it has managed to overtake Donald Trump, VISA, PayPal, and Libra on Google Trends at the
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Ever since Facebook announced earlier this year that it was going to launch its own cryptocurrency, Libra, the token has been met with a lot of skepticism. Leading regulators at some of the world’s central banks, as well as United States President Donald Trump, have criticized different aspects of Libra. Major
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The new president of the European Central Bank (ECB), Christine Lagarde, has expressed concern that Facebook may use its digital platform to promote Libra and lock-out rival stablecoin operators.In a letter responding to EU lawmakers yesterday, Lagarde said stablecoins addressed many of the problems associated with the existing cross-border payments
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