Libra

Facebook’s Libra to reportedly launch in January 2021 as USD stablecoin

The long-awaited digital currency Libra could finally see the light of day as soon as January 2021, according to a new report. Following more than a year of scrutiny from global financial regulators, Libra will launch in a form of a United States dollar-backed digital currency, the Financial Times reported on Nov. 27. Citing three people …

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Libra Plans Dollar-Pegged Stablecoin Launch in January 2021: Report

Libra, the Facebook-initiated stablecoin project that’s been targeted continuously by lawmakers, might get off the ground as early as January 2021, albeit in a more limited format than the original multi-currency basket envisioned. According to a report by the Financial Times on Friday, instead, Libra may launch a single dollar-pegged stablecoin next year, according to “three people …

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BIS report suggests ‘embedded‘ monitoring tool for stablecoins

Facebook’s proposal for its digital currency, Libra, was a wake-up call for international regulatory agencies, finance ministries and central bankers. All these actors recognized that the company’s reach across its three platforms had the potential to accelerate adoption of a global stablecoin to an unprecedented extent. In a new paper from the Bank of International …

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Chasing the hottest trends in crypto, the EU works to rein in stablecoins and DeFi

In cryptoland, the fall tends to be regulators’ open season. As unprecedented as it’s been, 2020 is no exception to this trend. Tensions are high on both sides of the Atlantic: As markets were still processing the news of the United States Commodity Futures Trading Commission cracking down on derivatives exchange platform BitMEX, the Financial …

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FSB Report Says Stablecoins Promote Financial Inclusion: Urges Regulators to Tighten Laundering Controls

<div class=”featured_image_container”> </div> <div class=”td-a-rec td-a-rec-id-content_top “><a data-bid=”1″ href=”https://news.bitcoin.com/linkout/387399″ rel=”nofollow noopener noreferrer” target=”_blank”><img loading=”lazy” src=”http://scoreit.online/wp-content/uploads/2020/10/wb_728x180-24.jpg” alt width=”728″ height=”180″></a></div><strong>The Financial Stability Board (FSB) says stablecoins have the potential to enhance the efficiency of the provision of financial services. The body adds that the hybrid cryptocurrencies have the potential to bring efficiencies to payments (including cross-border payments) …

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Law Decoded: The rivalry between central banks and global stablecoins, Oct. 9–16

Editor’s note Blockchain technology has attracted regulatory attention since its inception. The security of the Bitcoin network despite the value of BTC in play has consistently proved the resilience of blockchain technology in maintaining records across a vast range of parties. However, many countries have determined that Bitcoin doesn’t behave as a currency at all, …

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European Union Seeks Strict Regulation of Crypto and Stablecoins in New Draft Law

The European Commission, the executive arm of the E.U., has drawn up regulation to tightly monitor cryptocurrencies it considers “significant”, including asset-backed stablecoins like Facebook’s libra. Euractiv, a European news outlet, first reported the news on Sept.10, citing a leaked 167-page draft crypto proposal. According to the report, the regulation will seek to tackle bitcoin’s …

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Libra replaces general counsel Robert Werner after 3 months

Stevan Bunnel, former general counsel for the U.S. Department of Homeland Security (DHS), has been revealed as the Libra Association’s new leading lawyer. Since leaving the Homeland Security Department in 2017, Bunnell co-chaired the data privacy-focused legal practice O’Melveny & Myers until joining the Libra Association this month. The association’s former general counsel, Robert Werner …

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Federal Reserve Is Rushing to Get Its Instant Payments Offering Ready

The Federal Reserve is bullish on technologies that aim to speed up payments and is now rushing to get its own platform, FedNow, up and running. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is …

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Dogecoin Surges, Coinbase Rumors, Brave Legal Threats: Hodler’s Digest, July 6–12

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bitcoin’s price has hardly moved an inch in the last …

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