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CEO of blockchain firm R3 has ridiculed the way Facebook introduced its yet-to-be-released Libra stablecoin.Skepticism surrounding Facebook’s forthcoming Libra stablecoin continues growing as David Rutter, the CEO of enterprise software firm R3, said that the announcement of Libra this summer was “ridiculously stupid,” Financial News reported on Nov. 18.“Really
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American lawmakers have reportedly introduced a bill aiming to put Facebook’s Libra under the jurisdiction of the Securities and Exchange Commission (SEC). Two Texas representatives, Sylvia Garcia and Lance Gooden, have proposed legislation that would put even more regulatory scrutiny on Facebook’s not-yet-launched Libra stablecoin and related projects, CNBC
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Despite some headlines, CFTC chief Heath Tarbert didn't actually say Libra is a security, even if it is different from commodity bitcoin. Source
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Bison Trails has secured a $25.5 million Series A round led by Blockchain Capital to develop the firm’s infrastructure services. Source
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The Libra testnet has logged over 51,000 transactions since it was reset in September, with 34 projects having been developed on the network according to an update released by The Libra Association last week. In a blog post titled “Five months and growing strong: the Libra project,” the project’s lead developer, Michael
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Every Sunday, CoinDesk plays host to deep, nuanced discussions about the complex issues we cover, with the cast of the Let’s Talk Bitcoin! podcast. Original Source
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As the Libra stablecoin project continues to face a hostile audience of regulators, Facebook launches a new fiat payment system called Facebook Pay.Empower people everywhere to buy and sell things onlineOn Nov. 12, the social media giant announced that it is introducing Facebook Pay, a payment system that is
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Since Facebook’s announcement about the development of its own cryptocurrency called Libra in June, the cryptocurrency industry has struggled with many obstacles regarding its launch next year.Consumers are hesitant about the social media giant taking over a financial venture, claiming that tech companies should be utilizing the given cryptocurrencies in
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The former head of People’s Bank of China (PBoC), Zhou Xiaochuan has argued that the Libra stablecoin would be more readily trusted if it were in the hands of an organization like the International Monetary Fund (IMF).Zhou is the longest-serving governor of China’s central bank to date, having held
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A senior United States federal official has argued that Facebook’s Libra highlights the need for the Federal Reserve (Fed) to act urgently and launch its own real-time payments system.In a letter addressed to the Federal Reserve’s Board of Governors on Nov. 7, Rohit Chopra — a commissioner at the
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