Tag Archives: cryptocurrency

The US Federal Reserve System has added its voice to the chorus of doubts raised by lawmakers, politicians and others worldwide about Facebook’s newly announced cryptocurrency, Libra. While speaking to House lawmakers Wednesday, Federal Reserve Chairman Jerome Powell said the US central bank has “serious concerns” about Libra, The Wall Street Journal reported. Facebook last month unveiled …

Facebook’s newly announced cryptocurrency Libra is facing more pushback, this time reportedly from the Indian government. India, the third-largest economy in Asia, is considering not allowing the currency to be traded at all, according to a Bloomberg report Monday. In April 2018, all entities regulated by the Reserve Bank of India were banned from dealing in cryptocurrencies and virtual coins, although …

Facebook’s plans to launch a new cryptocurrency called Libra in 2020 has faced pushback from lawmakers and nonprofits concerned about the social network’s seemingly endless list of scandals tied to privacy and security. On Wednesday, Facebook’s blockchain boss, David Marcus, tried to soothe those worries, reiterating in a post that the company won’t have direct control of the cryptocurrency. The …

Facebook’s recently unveiled Libra cryptocurrency is facing pushback from groups concerned by unanswered questions about the digital coin. In an open letter Tuesday, more than 30 groups — including the Economic Policy Institute and US PIRG — urged Congress and regulators to impose a moratorium on Libra until the “profound questions” raised by Facebook’s proposal are addressed. Facebook is working …

Facebook co-founder Chris Hughes has called the possibility of success for the social network’s newly unveiled cryptocurrency “frightening.” Libra will shift power from central banks to corporations, he wrote in a Financial Times op-ed Friday. Facebook earlier this week unveiled the global digital coin, which will be managed by a governing body called the Libra Association and through a wallet named Calibra. Facebook …

Current, an online banking company, has accused Facebook of borrowing its logo for the social network’s newly unveiled cryptocurrency play. The Calibra logo bears a resemblance to Current’s logo, the company tweeted Thursday, as reported earlier by CNBC. Facebook earlier this week unveiled a global digital coin called Libra, to be managed by a governing body called the Libra Association. Calibra is the name …

Facebook changed the way we communicate. Now the social media giant wants to change how its roughly 2.4 billion users think about using a cryptocurrency to make everyday purchases. Earlier this week, the social network and its partners unveiled a global digital coin called Libra, confirming details of a project that had been leaking out in dribs and drabs for months. …

Reports of Facebook’s upcoming cryptocurrency have been circulating for weeks, and an announcement from the social network is expected within days. The coin, supposedly called Libra, has a list of financial backers including Visa, Mastercard, PayPal and Uber, according to a report in The Wall Street Journal on Friday. Each company will reportedly invest around $10 million into a consortium, which …

Facebook might be making its cryptocurrency plans public with the release of a whitepaper on June 18. As early as 2020, the social network could then be launching its own Facebook cryptocurrency, which would potentially provide users with an online payments system without fees or international transactions. The June whitepaper would explain its crypto play, according to TechCrunch citing several investors …

Facebook plans to release its own cryptocurrency in early 2020, according to a report Friday from the BBC. Facebook CEO Mark Zuckerberg reportedly met with Bank of England Governor Mark Carney in April to discuss the cryptocurrency. The social media platform will lay out plans for its coin, internally called GlobalCoin, later this summer and begin tests by the end …