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A governor of the U.S. Federal Reserve has warned that the Facebook-led Libra project has a “core set of legal and regulatory challenges” ahead.In a prepared speech for an event in Germany on Wednesday, Lael Brainard said more clarity is needed about the basket of currencies underlying the stablecoin and
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The white paper for Facebook’s proposed Libra currency has been quietly updated, according to a Dec. 10 article written by Georgetown University law professor, Chris Brummer. Aside from expected amendments reflecting the revised Libra Association members, the biggest change is the removal of dividends payable to those early investors.Change
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With markets continuing their decline, we're hunting for billion dollar returns and the Libra Investment Token in a major revision to the Libra white paper. Source
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Yeah, it seems that is the number one story of the year. What’s really interesting to me is that, Congress got so upset about it, I think mostly to score political points. But I think Facebook miscalculated, because they thought their messaging was about creating a global currency. We're gonna
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Steven Mnuchin, secretary of the U.S. Treasury, has no issue with the launch of the Facebook-led Libra project – as long as financial rules are followed to the letter. Original Source
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A couple of United States lawmakers are looking to classify stablecoins as securities. With Libra considering adopting fiat-pegged stablecoins rather than a single token supported by a basket of national currencies, the proposed crypto project might be facing yet another regulatory hurdle.Meanwhile, lawmakers sponsoring the bill say stablecoins should
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Blockchain researchers at online brokerage eToro have argued that Facebook should look to support third-party stablecoins, not Libra.According to a Nov. 28 report from Finextra, eToro’s blockchain research unit eToroX Labs believes that while Facebook’s crypto project offers a “trailblazing opportunity” to disrupt financial services worldwide, the social media
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Yeo Min-soo, the CEO of South Korean internet giant Kakao, said that his firm’s Klaytn blockchain is similar to Facebook’s Libra except it is way ahead in its development.According to the Korea Herald on Nov. 28, Min-soo lauded Klatyn’s development during the first Klaytn Governance Council Summit held in
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Libra co-founder and chief economist of Calibra Wallet Christian Catalini has attempted to clear up misconceptions in relation to the planned digital coin in an interview with CNN’s Julia Chatterley. The release of the whitepaper on Facebook’s (NASDAQ:FB) proposed coin back in June prompted massive debate from politicians around the world,
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On Thursday, US congress has introduced a bill that would classify Facebook’s cryptocurrency Libra as a security. The new proposed law is likely to bring up larger issues of regulation and inspection to Facebook’s crypto project that the company introduced as an electronic payment system.Representatives Sylvia Garcia and Lance Gooden
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