German Gov’t Speaks Against Approval of Facebook’s Libra in Europe

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 and Christian Social Union in…

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Report: Libra Stablecoin Tied to Major Currencies, Maybe Not Yuan

Social media giant Facebook, which is currently trying to get regulatory approval for its Libra stablecoin project, reportedly shared details regarding the project’s proposed backing reserves. According to a report by Bloomberg on Sept. 9, Facebook told United States senators about the backing reserves for the stablecoin — a type of cryptocurrency valued by a…

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China’s Central Bank Digital Currency Undergoes “Restricted Access Test”

This article was originally published by 8btc and written by Vincent He. A dedicated team from the People’s Bank of China’s (PBoC) Digital Currency Research Lab is now developing the system in a closed-door environment, away from the PBoC’s downtown Beijing headquarters, according to a report from September 5, 2019. China’s central bank digital currency…

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Binance: Venus Project Will Court Regulators, Avoid Facebook’s Mistakes

Cryptocurrency exchange Binance has said that it will learn from the regulatory issues that have plagued Facebook’s proposed Libra digital currency.  In an interview, Aug 29, Binance co-founder He Yi claimed that the company will engage with regulators from day one regarding its Venus stablecoin project. He also confirmed previous rumors that Venus will be…

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Bank of England Governor: Libra-Like Currency Could Replace US Dollar

Mark Carney, the Governor of the Bank of England, has suggested a transformation of the global financial system by replacing the United States dollar with a digital currency similar Facebook’s Libra. Delivering his speech at the U.S. Federal Reserve’s annual symposium in Jackson Hole, Wyoming, Carney said that a Libra-like digital currency could replace the…

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